As per the RBI guidelines, you can avail up to 90% of the loan amount provided it is below Rs. 30 Lakh. Lenders will end money based on the market value of your property.
The tenure for such loan amount can be of twenty years making the EMIs affordable.
Your KYC is the mandatory document which you need to provide at any cost along with your address proof, Bank account statement for the past three months, the documents related to the property to be mortgaged and salaried individuals will have to provide their latest salary slip and their income tax returns.
You can use loan against property as there are no restrictions on it.
You can choose between two types of rate of interest like the fixed rate or the floating rate of interest.
You have to bear the minimum charges that come along with the loan amount such as Processing Charge, Penal Interest, EMI bounce Charges, Statement Charges, Foreclosure Charges, Part- pre-payment Charges.