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Loan Against Property
- Quick Sanction and Easy application
- Borrow up to 75% of the property’s market value at attractive interest rates
- Flexible repayment period with doorstep services
Reasons To Get Loan Against Property
High loan-to-value ratio (LTV)
You can borrow up to 75% of the market value of your property, which can provide you with a significant amount of funding.
Flexibility in usage
Utilise the funds for a variety of purposes such as home improvement and renovations, debt consolidation, medical emergencies, education expenses, business expansion, etc.
Customised repayment terms
Choose from a variety of repayment tenures that align with your financial standing and preferences.
Quick processing times
Experience quick and efficient loan processing to access funds promptly.
Dedicated customer service:
Receive exceptional customer service throughout the loan process, from application to post-disbursement.
Get Instant Digital Sanction
Get Instant Digital Sanction for your top-up home loan applying at your convenience anytime anywhere on ABCD app.
Our Offerings
Check out the different options available with us under Loan Against Property
Compare Our Loan Against Property Products
A quick glance at how different Loan Against Property options differ from each other
| Product Type | Commercial | Industrial | Loan Against Plot Residential | Residential |
|---|---|---|---|---|
| Best For | SMEs, entrepreneurs, business owners | Manufacturers, warehouses, import and export companies | Homebuyers, property developers, individual plot owners | Retirees, pensioners, debt consolidators |
| Tenure | Upto 15 years | Upto 15 years | Up to 10 years |
Up to 15 years |
| Interest rate | 9.50% -17.5% | 10.00% - 12.60 % | 9.00% - 16.5% |
9.00% - 16.5% |
| Credit Score Required | >=650 & NTC | >=650 & NTC | >=650 & NTC | >=650 & NTC |
| Balance Transfer Facility | Yes | Yes | Yes |
Yes |
| Tax Benefits | NO | NO | NO |
NO |
Disclaimer: The interest rate constitute the rack rate for all customers. Actual interest rate for any customer and will be as communicated at the time of loan sanction and disbursal. It will be subject to changes from time to time and is at sole discretion of ABHFL
5 Things To Consider Before Taking A LAP
Loan Against Property Eligibility
Are you eligible for a loan against property? Check whether you meet the criteria.
Eligibility criteria
- Property typeResidential or commercial
- NationalityIndian citizen
- Minimum age for applying21 years
- Maximum age at loan maturity60 years for Salaried & 70 years for Self-employed
- Good credit history Credit score to 650 or above, new to credit
- EmploymentSalaried or self-employed
Suggests who should get this policy. Remember, it’s only a suggestion.
Fees & Charges
| TRANSACTIONS | CHARGES |
|---|---|
| Loan Processing/Administration Fee | Home Loans : Up-To 1% Of The Loan Amount Other Loans : Up-To 2% Of The Loan Amount |
| Part Payment/Pre-Closure Charges: |
• Floating rate loans given to individuals, where all applicants and co-applicants are individuals: Nil.
• Home Loans (other than floating rate Home Loans to individuals): 2% of principal outstanding. |
| Other Charges:
Default Penal Interest Rate / Non Conformance With Any Covenants / Stipulated Conditions |
24% P.A. I.E. 2% Per Month |
Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.
| TRANSACTIONS | CHARGES |
|---|---|
| NACH Failure Charges | ₹750/- per instance |
| Accrued Interest |
As applicable based on actual delayed status or as communicated by the lender from time to time |
| CERSAI Charges |
• When the facility amount is equal to ₹5 Lakh or lesser – ₹50 per property
• When the facility amount is greater than ₹5 Lakh – ₹100 per property |
| Pre-closure Quotes | ₹1,000/- per instance |
| Request for Any Copies of Any Collateral | ₹750/- per instance |
| Duplicate Statement/Repayment Schedule | ₹200/- per instance |
Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.
| Name of Fee/Charge levied | Transactions & Charges in Rupees |
|---|---|
| • Stamp Duty • Legal and other statutory charges • Insurance Premium • Creation charge with ROC • MOE/MOD/Registration |
As per state laws, where applicable |
Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.
| TRANSACTIONS | CHARGES |
|---|---|
| Cheque Return Charges | ₹750/- per instance |
| CIBIL Report Retrieval Fee |
• ₹50/- per instance for Consumer and
• ₹500/- for Commercial CIBIL |
| Loan Re-Schedulement (at the discretion of ABHFL) Charges | 0.50% |
| NOC Issuance Charges | ₹500/- |
| Cancellation Charges (if any) | 4.00% of the loan amount disbursed |
| Swap Charges (Fixed or semi-fixed rate to floating and vice-versa) |
2% of the loan outstanding |
| Fees and Other Charges | Applicable GST @ 18% will be levied |
Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.
Documents Needed
Proof of Identity and Address
Passport/ Aadhaar Card/ Voter's ID/ Driving License/ Job Card issued by NREGA/ Registration certificate/ PAN card (PAN Card only as identity proof)
Proof of Income
Salary slip for the last 3 months showing all deductions and Form 16
Bank statement showing salary
Latest 6 months
Proof of Other Income:
Rental receipts or documents showing receipt of income
Property Documents:
Copy of Title documents and approved sanction plan
Proof of Identity and Address
Passport/ Aadhaar Card/ Voter's ID/ Driving License/ Job Card issued by NREGA/ Registration certificate/ PAN card (PAN Card only as identity proof)
Proof of Income
IT Returns or financial documents for the last 2 years and computation of income certified by a CA for the last 2 years
Bank statement where income is credited
Latest 6 months
Proof of Other Income:
Rental receipts or documents showing receipt of income
Property Documents:
Copy of Title documents and approved sanction plan
Customer Satisfaction Stories
Don’t just take our word for it. Hear from our customers about their successful financial journey with us
Aditya Birla Finance Customer
The digital platform and whatsapp service of ABHFL gives me a quick access to my basic loan details such as statement of accounts, loan account details, interest certificate, and repayment schedule.
Aditya Birla Finance Customer
Gurgaon, India
Aditya Birla Finance Customer
Highly appreciate the speed of work at ABHFL, my overall experience in the home loan journey was good.
Aditya Birla Finance Customer
Meerut, India
Aditya Birla Finance Customer
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FAQs on Loan Against Property
Loan Against Property (LAP) is a secured loan that allows you to borrow money by pledging your residential or commercial property as collateral. This means that the lender will have a legal claim to your property if you are unable to repay the loan.
ABHFL typically accepts the following types of properties as collateral for LAP:
• Residential properties (apartments, bungalows, houses)
• Commercial properties (shops, offices, warehouses)
• High loan-to-value ratio (LTV): You can borrow up to 75% of the market value of your property, which can provide you with a significant amount of funding.
• Flexible repayment options: You can choose a repayment tenure that suits your financial situation.
• Competitive interest rates: ABHFL offers competitive interest rates on LAP, making it an affordable option for borrowers.
• Quick processing times: ABHFL strives to process LAP applications quickly, so you can access the funds you need as soon as possible.
LAP can be used for various purposes, including:
• Home improvement and renovations: You can use LAP to finance home improvements, such as renovations, extensions, or upgrades.
• Debt consolidation: You can consolidate multiple debts into a single LAP, potentially reducing your overall interest payments and simplifying debt management.
• Medical expenses and emergencies: LAP can serve as a financial backup in case of unexpected medical expenses or emergencies.
• Education expenses: LAP can be used to fund education expenses for yourself, your children, or other family members.
• Business expansion: LAP can be used to finance business expansion plans, such as purchasing equipment, hiring new employees, or expanding operations.
You can avail of LAP for any personal or business purposes, provided the end use is not for any speculative or prohibitive reasons.
Loans can be availed with a tenure of up to a maximum of 20 years. Repayment will not ordinarily be extended beyond the age of retirement (if you are employed) or on your reaching 60 years of age, whichever is earlier. However, our endeavour will be to determine the repayment period to suit your convenience.
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*ABHFL reserves the rights to call upon additional documents at its discretion. The documents will be collected by ABHFL.