Loan against property is a great way to liquidate your fixed asset without having to sell it or auction it. Loan against property is a secured loan option which provides affordable loan at an affordable rate of interest for mortgage loan.



To make sure your loan application gets approved here are things you must pay attention to while applying -

  • Prior to signing up for the loan make sure to research about various loan providers online. Compare loan offers and gauge the credibility of various loan providers in the market.
  • Know the eligibility criteria of the lender in detail. You can either log on to their online website or get in touch with their Relationship Manager to know what conditions are expected to be met by you.
  • Be aware of the paperwork that would be required to support your loan application. Be it the the papers of your pledged property, identity proofs or a passport size photograph make sure to have them arranged.
  • You may use the EMI calculator available online to know how much are you eligible for and whether you can afford to pay it back. Knowing the monthly instalments for the loan beforehand helps to pitch for an amount you can easily get approved for.
  • When you pledge a property make sure it is free from any litigation and does not have any existing loan on it. This way you can aim to acquire the maximum loan amount which is up to 60% to 70% of the loan amount.

To ensure instant approval on the loan you can choose to apply online. The process does requires you to fill up an e-form and submit relevant paperwork. Ideally, having all documents submitted and verified will let you enjoy quick approval and disbursement on the loan.