loan against property interest rates

Loan Against Property Interest Rate

Starting @ 9.5%

Flexible Loan Terms | Tenure Up to 180 Months | No Hidden Charges

Smart borrowing begins with availing a loan at affordable terms. At Poonawalla Fincorp, we understand this and have designed our Loan Against Property to offer a seamless experience to our customers. Offered at attractive interest rates starting from just 9.5% per annum, our loan is a cost-effective solution that meets your financial needs. We guarantee 100% transparency, ensuring there are no hidden charges whatsoever. Go ahead and achieve your financial goals today. Apply now!

Applicable Fees and Charges

Interest Rate Logo Interest Rate
  • Keep your EMIs affordable with our competitive interest rates, starting at just 9.5%* p.a.
Loan Fees Logo Processing Fee
  • We levy a nominal processing fee of up to 2% of the sanction amount plus taxes to handle loan processing.
Payment Logo Foreclosure Charges
  • Foreclose your loan by paying 4% + taxes.
Late Replayment Logo Other Fees and Charges

Other charges for Loan Against Property as applicable as given below:

  • Initial Commitment Fee (Initial application fee is non-refundable) - ₹10,000/-.

Kindly check our tariff sheet document to get more details about other applicable charges.

Interest Rate 9.5% p.a. onwards
Loan Amount From ₹51 Lakh to ₹25 Crore
Loan Processing Fees Up to 2%
Lowest EMI per month 1044* per Lakh for 180 months
Maximum Tenure 3-15 years (12 years for Industrial/Warehouse)
Foreclosure/Prepayment Charges 4% + taxes
Default Charges 24% per annum
Repayment Instrument Dishonour Charges ₹500 per bounce plus applicable taxes
Stamp Duty At actuals (as per state)
No Other Hidden Charges

Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.

Foreclosure refers to the process of paying off the remaining outstanding loan principal amount in a single payment. When done correctly, foreclosure can help you save on interest payments. However, it is essential to plan carefully before considering foreclosure as a viable option, as a large payment amount can have a significant impact on your financial health. Hence, to avoid any negative implications, follow these tips:

  • Check the foreclosure charges.
  • Do a cost-benefit analysis to know your true savings.
  • Use an online foreclosure calculator for a more detailed analysis.
  • Plan to foreclose as early as possible for maximum savings.
What is the starting rate of interest on a Loan Against Property?

Poonawalla Fincorp offers LAP at competitive interest rates. This makes our loan one of the most cost-effective financing options that you can avail of to fulfil any kind of big-ticket expense.

How can I get the lowest mortgage loan interest rates?

To enjoy the lowest LAP interest rate and ensure maximum affordability, follow these simple tips:

  • Apply with a strong financial profile.
  • Pledge a property with a high market value.
  • Maintain a good credit score.
  • Meet all the loan eligibility criteria.
Is there a way to reduce the mortgage loan interest payable?

Yes. Some of the best ways to reduce the interest on Loan Against Property are as follows:

  • Negotiate for a lower interest rate.
  • Even though you might be eligible for a higher amount, borrow only the amount you require.
  • Opt for a shorter tenure.

Note : It is important to consider your existing financial condition carefully before opting for the above-mentioned tips to reduce the interest payable on your property mortgage loan.

What is the processing fee chargeable on the Poonawalla Fincorp Loan Against Property?

We ensure an affordable experience and only levy nominal charges on our LAP loan. You will be required to pay a processing fee upto 2%.

Can I foreclose the Loan Against Property before the tenure ends?

Yes. You can foreclose your loan before tenure ends. You may need to pay a foreclosure charge of 4% + taxes.

*Terms & Conditions Apply

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