About Company

AI Saif Power Private Limited, a leading provider in power transmission and distribution erection and maintenance. With a commitment to excellence and innovation, we deliver high-quality solutions that ensure the reliability and efficiency of power systems. Our team of experienced professionals is dedicated to meeting the evolving needs of the industry, providing end-to-end services from planning to execution.

Loan Against Property

  • Home
  • Loan Against Property

Turn Your Property
into Capital with Ease

Get the best Loan Against Property deals at a Lower Interest Rate

Apply Now
Home Loan

Eligibility Criteria for Loan against Property

The eligibility criteria for personal loans are minimal, with the requirement to meet the following.

  • Nationality: You need to be a Citizen of India with documents to prove your claim.
  • Occupation and Income: Your lender will require you to furnish details regarding your occupation and income to prove your professional and financial stability to determine your creditworthiness.
  • Credit History: Your three-digit Credit Score, indicative of your track record in respect of repayment of loans, and other forms of credit will be a deciding factor to prove your eligibility for a LAP.
  • Banking Relationship: Should you have a healthy relationship with your lender, you will not be disapproved for a LAP. Additionally, your lender will offer you better terms and conditions in respect of loan value, interest rates, period of the loan, hidden charges, and processing fees.
  • Market Value of Property: Your lender retains the right to decide the loan amount and terms and conditions of your mortgage loan based on the market value of your collateral property. Besides, the market value of the mortgaged property must be higher than the loan amount calculated on the current value of your property.
  • Title of Property: Your lender will require you to be the current existent owner of the property, and in case of a co-application, you will require to prove multiple ownership clear title. Besides, the property must not be mortgaged with any other financial institution.

Documents required for Loan Against

The documents that are necessary for the identification of the applicant, his place of residence, income, and repayment capabilities are the following:

  • Proof of Identity: Aadhar Card, Voter ID, Passport, PAN Card (Anyone)
  • Proof of Address: Utility bill-Electricity bill, Gas bill, Telephone bill, Identity proof (Any one)
  • Proof of Business Existence: Partnership Deed Copy, Trade License, Certificate of Practice, GST Certificate, UDYAM Certificate
  • Evidence of Earnings: Income Tax Returns for the past three years, Statement of Income, Balance Sheet for Profit and Loss, Statement of Assets and Liabilities, Statements from Bank Accounts for the last six months
  • Documents Related to Property: All necessary documents concerning the property being discussed

Key Benefits of a Loan Against Property

Lower Interest Rates

As LAP is a secured loan, the interest rates are lower than unsecured loans like personal loans. For example, instead of paying high interest on a personal loan for a wedding, you can save significantly by opting for a LAP.

Large Loan Amount:

You can avail high loan amounts, depending on the value of your property, allowing you to meet financial needs such as business expansion, education, or debt consolidation. Use a LAP to fund your child's overseas education or to set up a new factory for your growing business.

Use for Multiple Purposes

Pay for a major surgery, invest in a new venture, or renovate your home using the same loan. Whether it's for personal needs, business growth, medical expenses, or education, there are no restrictions to its use.

Tax Benefits

In some cases, especially when used for business or property-related investments, LAP can provide tax benefits under certain sections of Income Tax. You can claim deductions if the loan is utilized for constructing another property or financing business expansion.

Easy Online Application

You can apply for a loan against property online, making the process fast and convenient with less paperwork. For example: Complete your loan application from home in minutes without the hassle of repeated bank visits.

Features and Benefits of our Loan Against Property

Fast approval personal loans offer solutions to a variety of monetary needs. It includes:

  • Secured Loan: The loan is secured against the value of your property. The property acts as collateral, reducing the risk for the lender. This generally leads to lower interest rates compared to unsecured loans.
  • Loan Amount: The loan amount is determined based on the value of the property you pledge. Generally, you can get a higher loan amount compared to personal loans or other unsecured loans.
  • Flexible Tenure: The tenure (repayment period) for a Loan Against Property is usually longer compared to other types of loans, often ranging from 5 to 20 years. This allows for lower monthly installments.
  • Multipurpose: The loan amount can be used for a wide range of purposes, giving you the flexibility to address various financial needs without any restrictions. Improves Credit Scores: Successfully repaying a Loan Against Property can positively impact your credit score, as it demonstrates responsible borrowing behavior.