Get a Loan Against Property Today!
Unlock the true value of your home or commercial space with Poonawalla Fincorp's Loan Against Property. Whether you need funds for personal or business needs, you can use your property as collateral to get a loan amount of up to ₹25 Crore.
With our quick and simple online application process, you can easily get a property mortgage loan without any hassle. Additionally, our loan comes with a flexible tenure that makes loan repayment convenient.
You can avail of this secured loan for any purpose, be it debt consolidation, funding higher education abroad, or covering medical expenses. Furthermore, with minimal documentation, you can experience a seamless loan journey - from application to disbursal. Apply now!
Reasons to Get a Loan Against Property
Some of the common ways to utilize these funds are to:
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Expand an existing business
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Consolidate high-interest debt
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Pay for a medical emergency
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Renovate business infrastructure or a home
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Fund overseas higher education
Calculate your Monthly EMI For LAP
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EMI Amount = *
Loan Against Property Charges and Fees
| 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.
Apply for a Loan Against Property in Just a Few Easy Steps
Apply
Online
Apply Online
Click on ‘Apply Now’ and enter your contact details along with loan amount, tenure, and property type.
Enter
Property
Details
Enter Property Details
Enter your DOB and property ownership details.
Enter
Occupation
Details
Enter Occupation Details
Enter your occupation and employment details.
Verification
Verification
The application will then proceed for verification and assessment.
Interest Rate & Fees
9.5% p.a. onwards | One-time processing fee of up to 2% of sanction amount plus taxes.
Repayment
Flexible repayment tenure of up to 180 months
Example
Loan Amount: ₹51 Lakh, Interest Rate: 9.5%, Tenure: 180 months, equates to EMI of ₹51,728* per month.
* T&C Apply
LAP Features and Benefits
Experience the best-in-class Loan Against Property offered by Poonawalla Fincorp. Here are the top features and benefits:
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Minimal documentation
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Quick & easy approval process
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A wide range of properties accepted as collateral
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High LTV for ample funding ranging up to ₹25* Crore
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Competitive interest rate & charges
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Flexible repayment tenure of up to 180 months
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No hidden costs
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Doorstep services
We Offer Loan Against Property To
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Salaried individuals
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Self-employed professionals
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Firms/ Companies
Eligibility Criteria For LAP
The Loan Against Property offered by Poonawalla Fincorp is available for salaried individuals, self-employed professionals, and firms/companies. It has basic eligibility requirements that help speed up the process, allowing you to easily apply for a loan, even in an emergency.
To qualify for funding and get quick approval, you need to meet the eligibility criteria related to the following factors:
Age
Work Experience/
Business Vintage
Income
Business Profile
Statutory Compliances (wherever applicable*)
Note: The above-mentioned eligibility criteria are indicative. Additional prerequisites may be required during loan processing by Poonawalla Fincorp.
Documents Required
Our online application process eliminates lengthy paperwork and provides timely funding. We only require essential documents, which fall into 5 categories:
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KYC Documents
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Income and Financial Documents
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Property Documents
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Bank Statement
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Sanction letter and SOA of Existing Loans (if any)
You can also check the specific list of documents required for different borrowers!
Note: The above-mentioned list of documents are indicative. Additional documents may be required during loan processing.
Loan Against Property Balance Transfer
A LAP Balance Transfer refers to the process of transferring your existing mortgage loan from the existing lender to your new lender. You can opt for the balance transfer of your property mortgage loan to Poonawalla Fincorp for any of the following reasons:
- Lower interest rate
- Longer and more flexible loan tenure
- Higher loan amount
- Higher LTV on the market value of the asset
- Best-in-class customer service and query resolution
How to Transfer Your Balance?
We realize that time is of the essence and, hence, have kept the Loan Against Property balance transfer process simple and hassle-free. Following are the steps for balance transfer:
- Click on “Apply Now”.
- Fill in the required personal, professional, and financial details in the form.
- Submit all the necessary documents.
A representative from Poonawalla Fincorp will get in touch with you for further processing. After your assessment and verification, you will receive a loan sanction. Once you authorize the disbursal, the loan amount will be credited to your bank account.
Frequently Asked Questions
*Terms & Conditions Apply
