Loan Amount
Up to ₹25 Crore
Interest Rate
Starting at 9.5%* p.a.
Loan Tenure
36-180 Months

Get a Loan Against Property in Salem Instantly

Situated in Tamil Nadu, Salem is a city known for its temples, forts, and manufacturing industries, such as textiles, steel, silver jewellery, etc. Leverage the value of your residential or commercial property to meet your funding needs with a Loan Against Property. Get a loan of up to ₹25 Crore with minimal paperwork.

Choose a trusted financial lender like Poonawalla Fincorp to avail of a Loan Against Property with competitive interest rates, no hidden charges and quick approval. Apply now!

Why Choose Poonawalla Fincorp

Fair
Loan-to-Value (LTV) Ratio
Online
Application
Quick
Approval
No Hidden
Charges
Minimal
Documentation
Competitive
Interest Rate

Loan Against Property EMI Calculator

Plan your monthly repayments effortlessly with our EMI calculator. Enter the loan amount, interest rate, and tenure to know your EMIs instantly. Try now!

Optimize Your Loan Against Property Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹5100000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
9 %
15 %

Tenure

Months
36Months
180Months

Apply for a Loan Against Property in Just 3 Steps

Click on "Apply Now”

Tap the Apply Now button to initiate your application.

Enter Details

Enter your contact, personal, occupation, and property ownership details.

Upload Documents

Upload the necessary documents for quicker approval.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for Loan Against Property in Salem

Although our eligibility criteria differ based on whether you are salaried, self-employed or an established firm/company, here are some of the main details:

  • Age 
  • Citizenship
  • Experience/Vintage
  • Occupation

 Click to know more about the eligibility criteria in detail.

Documents Required for Loan Against Property in Salem

Submit the required documents, depending on whether you are salaried, self-employed or an established firm/company, to avail of this loan:

  • KYC Documents
  • Income Proof
  • Property Papers
  • Bank Account Statement
  • Address Proof

Click to know more about documentation in detail.

Interest Rate and Charges for Loan Against Property in Salem

Get a loan against your property at competitive interest rate and nominal 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
Loan Tenure
3-15 years (12 years for Industrial/Warehouse)
Foreclosure/Prepayment Charges
5% on principle outstanding plus applicable taxes

5% on principle partly paid amount plus applicable taxes
Default Charges
24% per annum plus taxes
Repayment Instrument Dishonour Charges
₹500 per bounce
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

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

*T&C Apply

Different Uses of Loan Against Property in Salem

● Paying for medical emergencies

● Financing higher education

● Covering travel costs

● Renovating home

● Consolidating high-interest debts

● Expanding your business

Who Can Get a Loan Against Property in Salem

● Salaried Individuals

● Self-employed Professionals

● Companies/Firms

Tips for a Successful Loan Against Property Application

● Decide your objectives for availing of the loan

● Check the eligibility criteria

● Finalise the loan amount as per your requirements

● Check your credit score

● Arrange the necessary documents

● Avoid multiple loan applications

Poonawalla Fincorp Branch Address in Salem

Poonawalla Fincorp Limited

Address: No 258/2,2/91, 2nd Floor, Sri Vaari Shopping Mall, New Bus Stand Main Road, Meyyanur, Salem, Tamil Nadu-636004

Contact Number: 1800-266-3201 (Toll Free)

Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays.)

*T&C Apply

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

1. When should I apply for a Loan Against Property in Salem from Poonawalla Fincorp?

You can apply for our mortgage loan in Salem by pledging your residential or commercial property when you need funds urgently to cover your personal or business expenses. You can avail of a loan of up to ₹25 Crore with attractive interest rates, no hidden charges and quick loan approval.

2. Can I take a Loan Against Property in Salem for a longer duration?

Yes, Poonawalla Fincorp offers a Loan Against Property with an extended tenure of up to 180 months. This gives you ample time to clear your dues comfortably.

3. Can you transfer your existing Loan Against Property to Poonawalla Fincorp?

Yes, we offer a balance transfer facility for Loan Against Property, wherein you can transfer your existing mortgage loan to us at lower interest rates, no hidden charges and longer tenure.