Property Loan for Pensioners: Eligibility, Interest Rates and Benefits

• A property loan for pensioners allows eligible senior citizens to borrow against an eligible property
• Funds can be used for various personal or financial requirements, subject to lender terms
• The loan amount depends on factors such as property value, income, age, and repayment capacity
• Interest rates and repayment tenure vary by lender and applicant profile
• Applicants need to meet the lender’s eligibility criteria and provide the required documents

A property loan for pensioners is a secured loan designed for eligible senior citizens who own a residential or commercial property. The property is offered as collateral to the lender, allowing the borrower to access funds based on the property’s value and repayment capacity.

Pensioners may consider this financing option for requirements such as:

• Medical and healthcare expenses
• Home renovation or repairs
• Family-related financial commitments
• Education expenses
• Business or professional requirements
• Other eligible personal or financial needs

• Nationality: You must be an Indian citizen residing in India with property in a city we operate in.

• Age: Minimum age: 21 years* (18 years for non-financial property owners)

           Maximum age: 85 years (including non-financial property owners)

  *Age of the individual applicant/ co-applicant at the time of loan maturity.

  *Higher age of co-applicant may be considered up to 95 years basis 2nd generation (legal heir) meeting age norms and to be taken as co-applicant on loan structure.

• 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 650 or higher.
• Occupation: Salaried, self-employed professionals like doctors, and self-employed non-professionals are eligible to apply.

• Proof of identity/ residence - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
• Proof of income
• Property-related documents
• Proof of business (for self-employed applicants), and
• Account statements for the last 6 months

A loan against property for pensioners provides financial stability after retirement by unlocking the property's value, ensuring affordable borrowing, and supporting diverse personal and family needs without disrupting regular income.

• Easy access to funds: Enables pensioners to raise sizeable funds quickly by leveraging owned property, making it useful for noticing medical needs, home maintenance, or other urgent expenses.

• Low interest rates

  Our loan against property comes with affordable interest rates starting from 8% to 14% (fixed or floating rate of interest) p.a.

• Disbursal in 72 hours*

  Get money in your bank account within 72 hours*- of the approval & subject to receipt of all applicable documents and basis risk policy.

• Tenure of up to 15 years*

  You can repay your loan amount conveniently with a repayment tenure ranging up to 15 years*.

• Multiple end-use options

  With no end-use restrictions, use the loan amount for an emergency or pay for wedding expenses, higher education or business expansion.

Apply online for loan against property for pensioners with just a few steps.

1. Click on “CHECK ELIGIBILITY” button on loan against property page.

2. Enter your 10-digit mobile number and OTP.

3. Fill in the application form with your Personal Details, Business/Employment/Professional details, Property details and proceed.

4. Enter your loan amount that you need, choose from our three loan variants- Flexi Dropline Loan, Flexi Hybrid Loan, and Term loan.

5. Choose the repayment tenure - You can select tenure option of 12 months to 180 months and click on proceed.