Special Offers
×
notifications

Check Credit Score for FREE

Get your Credit Score for Free.

Click to Check Now
notifications

Refer & Earn

Now earn much higher than before with DHANOTSAV. Hurry! Valid only for Oct & Nov'21.

Click to Refer Now
notifications

Home Loan

Loan for your dream home is just a click away!

APPLY NOW
notifications

MSME Business Loan

Take your business to greater heights with customised MSME Loans

APPLY NOW
notifications

Loan Against Property

Use your property to fulfil your financial needs.

Apply Now
notifications

Construction Loan

Build your home the way you want.

APPLY NOW

Avail Loan Against Your Property

Need Money? Use your property to fulfil your financial needs and desires! Home Equity Loan from Aavas in nothing but Loan Against Residential property (LAP)

Loan against property is one of the best ways to take a loan for all your financial needs. Whether you need funds for higher education, marriage in the family or any medical expenses property mortgage loan is one of the fastest ways to secure a quick loan for fulfilling your immediate monetary needs. Explore this guide on how to get an easy Loan against property.

Features of Aavas Home Equity Loan

  • Attractive interest rates
  • Integrated branch network that facilitates loan servicing at a branch convenient to you.
  • You can use this loan for a marriage, medical expenses or any other personal need

Benefits of loan against property

  • Continuous ownership of property
  • Competitive rate of interest
  • Less documentation

Eligibility Criteria for Loan against Property

AGE 18-70 Years
LOAN TENURE Up to 15 years

Documents Required for Loan Against Property

Identity Proof

Your PAN Card is mandatory, and any one of these:

  • Passport
  • Voter ID
  • Aadhar Card
  • Driving License
Address Proof
  • Passport
  • Voter ID
  • Aadhar Card
  • Electricity bill/ water bill/ telephone bill
  • Driving License
Proof of Income
  • Salary Slips/Bank Statement/Form 16
  • Salary Certificate
Other Documents
  • Signed Application Form with Picture
  • Cheque For Processing Fee
  • Bank Statement of Last 6 Months
Property Documents
  • Title Deeds of the Property
  • Proof of No Encumbrances on the property
Identity Proof

Your PAN Card is mandatory, and any one of these:

  • Passport
  • Voter ID
  • Aadhar Card
  • Driving License
Address Proof
  • Passport
  • Voter ID
  • Aadhar Card
  • Electricity bill/ water bill/ telephone bill
  • Driving License
Proof of Income
  • IT Returns and/or Financial Statements of last 3 years And/or
  • Informal Income Documents
Other Documents
  • Signed Application Form With Picture
  • Cheque For Processing Fee
  • Proof of business existence
Property Documents
  • Title Deeds of the Property
  • Proof of No Encumbrances on the property

Note 1: For a full list of KYC documents, visit your nearest Aavas Financiers’ Branch.
Note 2: Make sure all your documents are valid (not past expiry date in case of Driving License and Passport)

To get more details about the Documents Required for Loan Against Property Click Here

Some interesting facts on Loan against Property

  • As many as 21.35 % of applicants applied for a loan against property with Aavas in the last 30 days, to generate some liquidity.
  • Jaipur has witnessed an upward trend in the number of people seeking a loan against their property.
  • People with an average age of 42 years were looking to expand their business with the help of MSME loans.
  • 14.48 % of loan against property applications were men and 6.88% of applicants were female, who wanted to have some funds for their various needs.
Need Assistance?
callicon

Toll Free
1800-20-888-20

Apply For Loan Against Property Apply For Loan Against Property
Loan Amount, i.e=1000000

Loan Against Property FAQs

Loan against property is another word for a mortgage loan and is availed by the salaried and the self-employed to meet their personal and business requirements.

Loan against property, also known as LAP, can be availed to meet the fund requirements for business needs, medical emergencies, a child-s education, or for any other personal loan requirement.

A person aged between 18-70 years is eligible for a loan against property. Please note that factors like age, the value of the property and income of the applicant etc., also affect the eligibility for the loan against property.

The applicant must follow the following steps to apply for the Loan against property

  • Fill up the application form
  • Submit the required documents such as land documents, age and residence proof and income details.
  • On successful submission of the application, deposit the processing fee
  • After loan approval, you will get the required home loan.

The maximum funding that a borrower can get depends on the market value of the property. The amount of the loan is usually equal to 55% of the market value of the property against which the loan is being taken.

The property against which the loan is being taken is the actual security that needs to be provided to avail the said loan option.

Self-occupied residential property can be considered as collaterals for Loan against Property.

Blog