VISA AND FLIGHTS
In addition to the expense of applying to college, the cost of a visa, insurance, and a flight ticket can add up to much money. Because there are no end-use limitations, you can use a loan against property to pay for similar costs.
ELECTIVE COURSES
Most likely, education loans will only cover the cost of tuition. But you should not worry about the extra money if your child wants to take an elective course for extra credits.
LIVING EXPENSES
Besides rent, you must pay for things like food, transportation, phone bills, and internet. These can cost you a huge amount of money. Most of the time, a student loan will not cover these large costs, so you will need to obtain additional finance options.
COURSE MATERIAL
During your course, you may need study materials, equipment, gadgets, special software, and other similar things. Most of the time, these costs are not planned for and can happen at any time. So, if you want to give your child the best education, you should opt for a loan against property that has no end-use restrictions.
Features and benefits of our loan against property
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Different ways to use your loan against property
Be it covering your wedding expense, funding your child's higher education, medical expenses, or taking care of your home expenses. Avail of loan against property and cover all your miscellaneous expenses.
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Loan amount of up to Rs. 10.50 crore*
Manage your big financial needs with a loan of up to Rs. 10.50 crore*. The loan amount will depend on some criteria like your property value.
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Low interest rates
Our loan against property for salaried individuals comes with affordable interest rates ranging from 9% to 12% per annum.
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Loan disbursal in 72 hours*
Your loan amount will be disbursed within 72 hours* of the approval. In some cases, it can be credited even earlier.
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Tenure of up to 15 years
You can manage your loan easily with a long repayment tenure ranging up to 15 years.
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Multiple end-use options
Use the loan to manage your wedding expenses, higher education, or even pay for a medical emergency as it comes with no end-use limitation.
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No foreclose charges*
If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part-prepayment charges.
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Externally benchmarked interest rates
You have the option to link your loan to an external benchmark, such as the Repo Rate. Benefit during favourable market conditions.
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*Terms and conditions apply.
Loan against property EMI calculator
Enter a few details and check your loan against property EMIs.
Check your loan against property eligibility
Find out how much loan amount you can get.
How to apply for a loan against property
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Frequently asked questions
If you are a salaried individual, you can apply for a loan against property, if you meet our eligibility criteria. Your age, employment status and city of residence are some of the key criteria taken into consideration.
A salaried Indian citizen between the age group of 25 years to 85 years, years is eligible to apply. Other factors like your income profile, your CIBIL Score, etc. are also considered during the approval process.
*Terms and conditions apply.
Loan against property is a secured loan in which you mortgage your property to a lender in exchange for an amount to cover your expenses. Several factors influence the final loan amount, including the individual's profile and repayment capacity, the property's valuation, and the lender's loan-to-value ratio.
You can repay the borrowed sum over a convenient repayment tenure of up to 15 years.
The CIBIL Score is an important indicator of your creditworthiness. To get a loan against property, it is preferable to maintain a CIBIL Score of 700 or higher.
