Loan Up to
₹25 Crore
Interest Rate
Starting at 9.5% onwards
Repayment Tenure
3-15 Years

Get a Loan Against Property in Chennai

Chennai, a city rich in culture and heritage, is also known for its tourist destination and premium medical facilities and is thriving to develop in every way possible. With our Loan Against Property, you can get the best value for your property and fulfil your dreams without any hassle. Enjoy higher loan amounts, flexible repayment tenure, and no hidden charges. Apply now!

Why Choose Poonawalla Fincorp

Fair Loan-to-Value (LTV)
Competitive Interest Rate
Online Application
Quick
Approval
Flexible
EMIs
Minimal
Documentation

Loan Against Property EMI Calculator

Plan your loan repayment effortlessly with our EMI calculator. Enter the loan amount, interest rate, and tenure to get an accurate result. Calculate 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

Rupees one lakh

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 Details for a Loan Against Property in Chennai

The eligibility criteria for a Loan Against Property may differ depending on whether you are a salaried individual, self-employed or a firm/company and aspects like:

  • Age
  • Occupation
  • Experience/Vintage
  • Citizenship

Click to know more about eligibility criteria in detail

Documents Required for a Loan Against Property in Chennai

Furnish a few documents to avail of a loan from Poonawalla Fincorp:

  • Property Documents
  • Identity Proof
  • Address Proof
  • Income Proof
  • Bank Account Statement

Click to know more about documentation in detail

Interest Rate and Charges for a Loan Against Property in Chennai

Get a loan against your property at competitive interest rate and charges:

INTEREST RATE
Strating from
9.5
%p.a.

PROCESSING FEE
Up to
2
% + applicable taxes

FORECLOSURE CHARGES
5
% on principal outstanding + applicable taxes

Interest Rate and Other Charges for a Loan Against Property in Chennai

Interest Rate
9.5%* p.a. onwards
Loan Amount
From ₹51 Lakh to ₹25 Crore
Processing Fees
2% 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
5% on principle outstanding plus applicable taxes

5% on principle partly paid amount plus applicable taxes
Default Charges
24% per annum plus taxes
Cheque Bounce Charges
₹500 per bounce plus applicable taxes
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 a Property Mortgage Loan in Chennai

  •  Business expansion
  •  Property renovation
  •  Medical emergencies
  •  Higher education
  •  Debt consolidation
  •  Wedding expenses

Tips for Successful Property Mortgage Loan in Chennai Application

  • Check eligibility criteria beforehand.
  • Ensure the property has no legal issues.
  • Maintain a low debt-to-income ratio.
  • Maintain a high credit score.
  • Keep the necessary documents handy.
  • Provide accurate information in the application.
     

Poonawalla Fincorp Branch address in Chennai

Poonawalla Fincorp Limited
Address:2nd Floor, The Oval Tower, Venkatanarayana Road, T.Nagar, Chennai Tamil Nadu-600017
Contact Number: 1800-266-3201 (Toll Free)
Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays)

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

How much can I borrow with a Loan Against Property in Chennai?

You can avail of a loan amount of up to ₹25 Crore with Poonawalla Fincorp. However, the loan amount depends on the value of your property and loan application.

Can I use a Loan Against Property for any purpose?

Yes, Poonawalla Fincorp's Loan Against Property has no fund usage restrictions. You can use it for business expansion, home renovation, education, debt consolidation, or other purposes.

Is there a prepayment penalty on a Loan Against Property?

Yes, Poonawalla Fincrop allows you to prepay your Loan Against Property. However, you must pay a nominal prepayment charge of 5% on principle partly paid amount plus applicable taxes.

4. What happens if I default on my Loan Against Property payments?

Defaulting on payments could result in penalties and increase the risk of losing your property. Therefore, it is crucial to make timely repayments.