Get a Loan Against Residential Property With Minimal Paperwork
To manage financial emergencies or fund large expenses, access to convenient credit with favourable terms is important. A Loan Against Residential Property allows you to leverage the value of your residential property to meet your financial needs.
You can tap into the value of your property and avail a loan of up to ₹25 Crore for personal or business purposes, with flexible EMIs and minimal paperwork. Choose a trusted financial lender such as Poonawalla Fincorp to benefit from competitive interest rates, no end-use restrictions, and quick approval. Apply now!
Loan Against Property EMI Calculator
Calculate your monthly EMI using the LAP EMI Calculator from Poonawalla Fincorp. Enter the loan amount, applicable interest rate, and loan tenure to instantly view your estimated monthly EMI, along with the principal and total interest payable.
Why Choose Poonawalla Fincorp
Fair Loan-to-Value (LTV) Ratio
Flexible Repayment Tenure
Zero HiddenCharges
Quick Approval
Online Application Process
Competitive Interest Rate
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.
Check your eligibility to apply for a loan against residential property:
- Age: 21 years to 60 years (salaried); 18 years to 75 years (self-employed and firms) at the maturity of the loan.
- Experience/Vintage: 3 years of total work experience (salaried) or 3 years in the same line of business (self-employed/firms).
- Credit Score: A CIBIL score of 750 and above is likely to get a good interest rate on a property.
- Occupation: The professionals have to be self-employed, owners, partners, companies, or directors who have a fixed salary.
Know more about the Loan Against Property eligibility criteria in detail.
Add a couple of documents to secure your loan using your house:
- Identity Proof: PAN Card, Aadhaar Card, Driving Licence, Voter ID, or Passport.
- Address Proof: Electricity bill (owned premises), rent agreement (rented), Passport, or Udyam/GST Certificate.
- Income Proof: 3-month salary slips (salaried) or ITR with P&L and balance sheet for 2 years (self-employed/firms).
- Bank Statement: 6 months (salaried) or 12 months (self-employed/firms).
- Property Documents: Relevant documents of the residential property being pledged as collateral.
Know more about the documents required for a Loan Against Property in detail.
Poonawalla Fincorp is lending by mortgage of residential properties at affordable interest rates and nominal charges:
Upto 5% on principle partly paid amount plus applicable taxes
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
A loan secured by residential property can be utilised for several purposes without end-use restrictions:
- Higher Education: Pay tuition fees or other expenses for overseas education.
- Medical Emergencies: Cover unforeseen hospitalisation or treatment expenses.
- Home Renovation: Renovate, upgrade, or refurbish an existing residential property.
- Debt Consolidation: Combine multiple high-interest debts into a single loan at a lower interest rate.
- Business Expansion: Expand operations, purchase equipment, or invest in new facilities.
- Wedding Expenses: Manage wedding-related expenses without exhausting your savings.
There is a broad range of applicants who can apply for a Loan Against Property, depending on their profile:
- Salaried Individuals: Working professionals with a fixed income who are Indian citizens.
- Self-Employed Professionals: Business owners, CAs, doctors, and freelancers with stable and regular income.
- Companies/Firms: Partnership firms or private limited companies engaged in manufacturing, services, or trading.
To improve your chances of approval and secure a better property interest rate, follow these tips:
- Maintain a credit score of 750 or above to qualify for competitive loans against property interest rates.
- Ensure that all property documents are clear, undisputed, and legally verified.
- Borrow only the required amount so that EMIs remain manageable within your monthly budget.
- Compare property interest rates across different lenders before finalising the loan.
- Keep income proof, bank statements, and KYC documents ready for verification.
- Avoid applying for multiple loans at the same time, as it may negatively affect your credit score.
Happy Customers, Happy Us
I am incredibly grateful for the outstanding support I received throughout my loan process. The guidance provided made every step feel manageable and stress-free. What stood out most was the humility and genuine willingness to help at every stage, qualities that made a significant difference in my experience. Without this support, the journey would have been far more challenging. I truly appreciate the dedication and helpful nature that was consistently demonstrated. The efforts put forth were invaluable, and I feel fortunate to have worked with someone so committed and supportive.
Throughout my loan journey, the Poonawalla Fincorp team showcased exceptional dedication, in-depth product knowledge, and a truly customer-centric approach. At every stage, they guided me with patience and clarity, making the entire process seamless, transparent, and timely. Their proactive communication and unwavering willingness to go the extra mile are a testament to the organization’s high standards of service excellence. Such professionalism not only fosters strong customer trust but also reinforces Poonawalla Fincorp’s reputation as a leading, customer-focused financial institution. I extend my heartfelt thanks to the entire team for their commendable efforts and wish them continued success in all their endeavors.
It was really great working with Poonawalla Fincorp. Thanks to the support and coordination by the team. I was able to get a significant portion of my requirements despite having a bit of a mess in my financial records. The loan processing and disbursement process at Poonawalla Fincorp was super smooth. They were incredibly cooperative and helpful. I’m looking forward to building a healthy relationship with them in the future. Thank you.
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Frequently Asked Questions
It is a secured mortgage loan in which you pledge the residential house as collateral to obtain funds for any financial requirement.
Poonawalla Fincorp offers Loan Against Property interest rates starting from around 9.5% p.a., depending on the applicant’s profile and loan eligibility.
Visit the Poonawalla Fincorp website, click “Apply Now”, fill in your details, upload the required documents, and complete the verification process for quick approval.
You can take a Loan against residential property of up to ₹25 Crore, based on the property's market value.
Home loan interest rates usually start lower because they are used specifically for property purchase, while Loan Against Property interest rates are typically slightly higher as the funds can be used for multiple purposes.
Yes, self-employed individuals such as business owners and professionals can apply, provided they have a stable income and typically at least 2–3 years of business continuity.
Yes, foreclosure or prepayment may be allowed depending on the loan terms. Charges, if applicable, vary based on the loan type and lender policy.
Collateral is accepted in terms of independent houses, flats, apartments and builder floor units with clear legal titles.
A CIBIL score of 750 and above would be suggested to obtain a competitive Loan Against Property interest rate.
Poonawalla Fincorp maintains transparent pricing. However, borrowers should review the applicable processing fees, documentation charges, and other terms mentioned in the loan agreement.