A loan for all your goals
Features and benefits of our loan against property
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All you need to know about our Loan Against Property
Watch this video to know everything about our loan against property: Features and benefits, fees and charges, eligibility criteria, and more.
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Loan of up to Rs. 10.50 crore*
Manage your financial urgencies with a substantial loan amount of up to Rs. 10.50 crore* sanctioned based on your mortgaged property.
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Low interest rates
Doctors can get a loan against property at an affordable interest rate starting from 9% to 12% (Floating rate of Interest) p.a.
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Disbursal in 72 hours*
Your loan amount will be credited to your bank account within 72 hours* of approval or even earlier in some cases.
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Tenure of up to 15 years
Our repayment tenure of up to 15 years makes it convenient for you to manage the loan.
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Multiple end-use options
Use the loan amount to manage significant life events like weddings, higher education, or even pay for a medical emergency.
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No foreclosure 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
Link your loan to an external benchmark, such as the Repo Rate and benefit during favourable market trends.
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*Terms and conditions apply
Eligibility criteria and documents required
A self-employed doctor can apply for our loan against property after meeting the criteria mentioned below.
Eligibility criteria
- Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
- Age: Minimum age: 25 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.
- CIBIL Score: A CIBIL Score of 700 or higher is ideal to get an approved loan against property.
- Employment status: As a self-employed doctor, you must hold an MBBS or subsequent higher degree. You should also have a business continuity of over 5 years in your current practice.
Documents required
- Proof of identity/ residence - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- Proof of income (P&L statement and ITR)
- Proof of medical practice existence, and
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
How to apply for a loan against property
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Did you know?
You can lower your EMI amount by choosing a longer repayment tenure
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Did you know?
A higher CIBIL score could get you better interest rates on your loan
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Did you know?
You can use the loan amount for multiple uses without any limitations
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Did you know?
You can use the loan to start a new business and avail of tax exemption
Applicable fees and charges
We advise you to read about our fees and charges thoroughly before applying.
Type of fee |
Applicable charges |
Rate of interest (floating rate of interest) |
9% to 12% per annum |
Processing fee |
Up to 3.54% of the loan amount (inclusive of applicable taxes) |
| Documentation charges | Up to Rs. 2,360/- (inclusive of applicable taxes) |
Flexi facility charge |
Term Loan – Not applicable Flexi term loan (Flexi dropline) Flexi Hybrid loan – The above Flexi facility charges will be deducted upfront from the loan amount. *Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges. |
Prepayment charges |
Full prepayment
Part-prepayment
Note: 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. |
Annual maintenance charges |
Term Loan: Not applicable |
Bounce charges |
Rs. 1,500/- per bounce. “Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason |
Penal charge |
Penal Charge is applicable in the following scenarios: a. Penal Charge: b. Covenant Perfection Charge: |
Stamp duty (as per respective state) |
Payable as per state laws |
Broken period interest/ pre-EMI interest |
Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows: Scenario 1: If Loan is disbursed on 1st or post 10th of the month: For Term Loan: BPI amount will be capitalised, i.e. added to Principal amount on Due date / Deducted from disbursement For Flexi Loans: BPI amount will be capitalised, i.e. added to Principal amount on Due date / Added to first instalment For Quick disbursal process and disbursement mode is cheque: BPI amount will be capitalised, i.e. added to Principal amount on Due date / Added to first instalment Scenario 2: If Loan is disbursed between 3rd and 10th of the month: First instalment will consist of interest for actual number of days. |
Mortgage origination fees |
Up to Rs. 6,000/- per property (inclusive of applicable taxes) charged upfront. Note - In case of re-valuation of the property then MOF will be levied again and shall be deducted from loan disbursement amount. |
Conversion fee (floating to fixed)** |
For Term Loan: Up to 1.18% (inclusive of applicable taxes) of principal outstanding + undisbursed amount (if any) For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any) Note: a) The company would charge additional interest rate risk premium of 200 bps over the applicable rate of interest on the borrower's loan account as on that date. b) Three conversions are permissible throughout the entire tenure. c) This is applicable to all Floating Interest Rate equated instalment based personal loans of different periodicities; Personal loans is defined in the RBI circular on “XBRL Returns- Harmonization of Banking Statistics” vide No. DBR.No.BP.BC.99/08.13.100/2017-18 dated January 04, 2018. |
Conversion fee (fixed to floating)** |
For Term Loan: Up to 1.18% (inclusive of applicable taxes) of principal outstanding + undisbursed amount (if any) For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any) Note: a) Three conversions are permissible throughout the entire tenure. |
Switch fee for ROI change |
Up to 2.36% (inclusive of applicable taxes) of principal outstanding |
| Commitment fee | Maximum up to total PF amount. |
| Legal Charges | Recovery of charges |
| Repossession & Incidental charges | Recovery of charges |
| Principal Holiday Facility Fees | Principal Holiday (as applicable below) - Up to Rs. 5,999 (Inclusive of applicable taxes) for loan amount less than Rs. 50,00,000. Up to Rs. 11,999 (Inclusive of applicable taxes) for loan amount between Rs. 50,00,000 and 74,99,999. Up to Rs. 14,999 (Inclusive of applicable taxes) for loan amount between Rs. 75,00,000 and Rs. 99,99,999. Up to Rs. 19,999 (Inclusive of applicable taxes) for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999. Up to Rs. 21,999 (Inclusive of applicable taxes) for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999. Up to Rs. 25,999 (Inclusive of applicable taxes) for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999. Up to Rs. 29,999 (Inclusive of applicable taxes) for loan amount Rs. 7,50,00,000 and above. The above principal holiday facility fees will be deducted upfront from loan amount. The Loan amount includes approved loan amount, Insurance Premium, VAS Charges and Documentation charges. |
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**The option of switching from floating to fixed rate of interest and vice versa would be applicable only to Borrowers whose loan qualify as personal loan as per RBI circular on Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans- RBI/2023-24/55-DOR.MCS.REC.32/01.01.003/2023-24.
Personal loans refers to loans given to individuals and consist of (a) consumer credit, (b) education loan, (c) loans given for creation/ enhancement of immovable assets (e.g., housing, etc.), and (d) loans given for investment in financial assets (shares, debentures, etc.).
Further, Consumer credit refers to the loans given to individuals, which consists of (a) loans for consumer durables, (b) credit card receivables, (c) auto loans (other than loans for commercial use), (d) personal loans secured by gold, gold jewellery, immovable property, fixed deposits (including FCNR(B)), shares and bonds, etc., (other than for business / commercial purposes), (e) personal loans to professionals (excluding loans for business purposes), and (f) loans given for other consumptions purposes (e.g., social ceremonies, etc.). However, it excludes (a) education loans, (b) loans given for creation/ enhancement of immovable assets (e.g., housing, etc.), (c) loans given for investment in financial assets (shares, debentures, etc.), and (d) consumption loans given to farmers under KCC. For risk weighting purposes under the Capital Adequacy Framework, the extant regulatory guidelines will be applicable. (as defined in XBRL Returns – Harmonization of Banking Statistics-RBI/2017-18/117-DBR.No.BP.BC.99/08.13.100/2017-18)
Frequently asked questions
A salaried or self-employed doctor can apply for a loan against property as long as you meet our eligibility criteria. Your age, employment status, and city of residence are some of the key criteria.
A self-employed doctor residing in India between 25 years to 85 years is eligible for the loan against property. Other criteria like your income profile, CIBIL Score, and more are also considered during the approval process.
*Terms and conditions apply
A loan against property is a secured loan for which you mortgage your property to a lender in exchange for a substantial loan. 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.
