Loan Against Residential Property

Loan Against Residential Property

Minimal Documentation | Quick Loan Processing | Flexible Tenure

In today's dynamic financial landscape, individuals often find themselves in need of substantial funds for various purposes, be it education, business expansion, or debt consolidation. One financing option that has gained considerable popularity in recent years is a Loan Against Property. This financial tool allows homeowners to utilise the value of their homes to secure loans for various needs. Let's delve deeper into the world of Loan Against Residential Property.


Poonawalla Fincorp offers a Loan Against Property at attractive interest rates, starting from just 9% per annum. Please see below for more details:

Loan Against Property Interest Rates 9% p.a. Onwards
Loan Amount From ₹51 Lakhs to ₹5 Cr
Loan Processing Fees Up to 1% Plus applicable taxes
Lowest EMI per month 1044* Per Lakh for 180 Months
Maximum Tenure 3-15 years (12 years for Industrial/Warehouse).
Foreclosure/Prepayment Charges 4% on the outstanding loan plus applicable taxes
Late Payment Charges 3% per month
Cheque Bounce Charges ₹1000 per bounce plus applicable taxes
IMD Charges - Initial application fee ₹10,000 - Non-Refundable
Stamp Duty At actuals (as per state)
No Other Hidden Charges

India's real estate market offers diverse residential property types to suit various lifestyles and preferences. Some of the types of residential properties In India are:

  • Apartments: Residential units in multi-story buildings that offer various configurations and shared amenities.
  • Independent Houses: Single-unit properties with more privacy and customization options.
  • Villas: Luxurious standalone properties with private amenities and custom features.
  • Gated Communities: Controlled-access complexes with apartments, villas, or row houses, with shared facilities.
  • Builder Floors: Independent units in low-rise buildings with shared infrastructure.
Property Ownership:


Age Requirement

Property Ownership

Monthly Salary Required


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Credit Score

Employment Required

Property Type

  • Income: Lenders evaluate your income to gauge your loan repayment capacity.
  • Property Ownership: You must be the legal owner of the residential property.
  • Age: Your age should be between 18 and 60 years of age.
  • Credit Score: A favourable credit score (700 and above) increases your chances of loan approval.
  • Property Type: The property must be residential, with clear ownership.

Obtaining a Loan Against Residential Property offers several advantages, such as:

  • Address proof

    Attractive Interest Rates

  • Address proof

    Higher Loan Amounts

  • Identity Proof

    Flexible Repayment Tenure

  • Income Proof

    Quick Approval

  • Attractive Interest Rates: These loans often come with competitive interest rates, making them an excellent financing option.
  • Higher Loan Amounts: The value of your property can determine a higher loan amount, enabling you to meet significant financial needs.
  • Flexible Repayment Tenure: Borrowers can choose from a range of repayment tenures of up to 15 years.
  • Quick Approval: If you meet the eligibility criteria and have all the required documents, the loan approval process can be relatively quick and hassle-free.
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Apply Online

Click on ‘Apply Now’ and enter your contact details along with loan amount, tenure, and property type.

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Enter Property Details

Enter your DOB and property ownership details.

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Enter Occupation Details

Enter your occupation and employment details.

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The application will then proceed for verification and assessment.

Can I get a loan against a plot that is already mortgaged?
What happens if I can't repay the loan against my residential property?
How is the loan amount determined?

*Terms & Conditions Apply

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