Loans Against Property

Loans against property (LAP) in India is a type of secured Loans where borrowers can pledge their property as collateral to avail a loan.

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Loan Against Property

Low Interest Rates | Loans up to 10.50 Crores | Tenure of up to 15 years

Whether you own a residential, commercial, or special use property, it is an asset that can be used as collateral against a loan, when you have a financial requirement. Monetary problems pertaining to business expansion, a child’s higher studies, a wedding, or a medical emergency can strike anytime, but they can be settled conveniently if you own a property. You can easily secure a loan by mortgaging your property. A Loan Against Property or LAP is a secured loan obtained by any individual or entity that owns a property in his/her name.

Features Of A Cashdash Loan Against Property

  • Loans Amount : Banks generally offer up to 60% to 70% of the property's market value as a Loans amount.
  • Tenure : The tenure of the Loans can range from 5 to 15 years, depending on the borrower's age and income.
  • Interest Rate : The interest rate on LAP in India is generally lower than that of personal loans or credit cards.
  • Repayment Options : Banks offer various repayment options such as equated monthly installments (EMIs), step-up or step-down EMIs, and flexible Loans repayment options.
  • End Use : LAP can be used for various purposes such as business expansion, education, marriage, medical emergencies, and debt consolidation.

7 Reasons To Choose Our Loan Against Property

  • Low Interest Rates.
  • Loans up to 10.50 Crores.
  • Tenure of up to 15 years.
  • Disbursal in 72 hours.
  • Multiple End-use options.
  • No Foreclosure Fee
  • Tax benefit

How Can You Use Cashdash Loans Against Property

  • Higher Education.
  • Medical Expenses.
  • Home Expenses.
  • Wedding.
  • Travel.

All You Need To Know About Our Loan Against Property

  • High Loans Amount : Borrowers can avail a higher Loans amount as compared to personal loans or credit cards.
  • Lower Interest rates : The interest rates on LAP are generally lower than those of unsecured loans.
  • Quick Processing : Get money in your bank account within 72 hours* of the approval, in some cases, even earlier.
  • Flexible Repayment / Options : Banks offer various repayment options, such as EMI and overdraft facilities, to suit borrowers' needs.
  • Tenure 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.
  • No Foreclosure Charges : An individual borrower who opts for a floating interest rate can pre-prepay a part or close the entire loan without an additional fee or a penalty.

** Terms & conditions apply

Eligibility Criteria & Documents Required

Anyone can apply for our loan against shares online, as long as they meet the four basic criteria mentioned below. Also, keep a few documents handy while applying for Loan against shares.

Eligibility Criteria

  • Nationality : You must be an Indian citizen residing in India with property in a city we operate in.
  • Age : The minimum age of the applicant must be 25 years* (18 years for non-financial property owners).
  • Age at the loan application of the individual applicant/Co-applicant. The maximum age of the applicant must be 70 years* (80 years for non-financial property owners).
  • Age at the loan maturity of the individual applicant/ Co-applicant.
  • Cibil Score : A Cibil Score of 700 or higher is ideal to get an approved loan against property.
  • Occupation : Salaried, self-employed professionals like doctors, and self-employed non-professionals are eligible to apply.

Required Documents

  • Proof Of Identity / Residence
  • Proof Of Income
  • Property-Related Documents
  • Proof Of Business (For Self-Employed Applicants)
  • Account Statements (Last 6 Months)

Step-By-Step Guide To Apply For Loan Against Property

  • Step 1 : Click on ‘Apply’ button on this page.
  • Step 2 : Enter your pin code and click Proceed.
  • Step 3 : Provide basic details like your full name and mobile number.
  • Step 4 : Now select the type of loan that you wish to apply for, your net monthly income, your area pin code, and the required loan amount.
  • Step 5 : Generate and submit your OTP to verify your phone number.
  • Step 6 : Enter further details like your property location, your current EMI amount/ monthly obligation, and your PAN number.
  • Step 7 : Click on the 'Submit' button.

Applicable Fees & Charges

Type Of Fee Applicable Charges
Rate Of Interest (ROI) Salaried Self-Employed Doctors
9% to 14% (Floating rate of Interest) p.a. 9% to 14% (Floating rate of Interest) p.a. 9% to 14% (Floating rate of Interest) p.a.
Processing Fees Up to 3.54% of the loan amount (inclusive of applicable taxes).
Document Processing Charges Up to Rs. 2,360/- (inclusive of applicable taxes)
Flexi Fee
  • Term Loan : Not Applicable
  • Flexi Variant : Not Applicable
Part-Prepayment Charges
  • Full Pre-Payment Term Loan : Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.
  • Flexi Term Loan (Flexi Dropline) : Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan : Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Part Pre-Payment : Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part Pre-Payment. Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi Foreclosure charges/ pre-payment penalties are not applicable on any floating rate term loan sanctioned, for purposes other than business, to individual borrowers with or without co-applicant(s).
Annual Maintenance Charges
  • Term Loan : Not Applicable
  • Flexi Term Loan (Flexi Dropline) : Not Applicable
  • Flexi Hybrid Loan : Up to 0.295% (inclusive of applicable taxes) of the Total Withdrawable Amount during Initial Loan Tenure. Not applicable for subsequent Loan Tenure.
Bounce Charges Rs. 1500 per bounce
Penal Interest Any delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the date of default until the receipt of monthly instalment.
Stamp Duty Payable as per state laws and deducted upfront from the loan amount.
Mandate Rejection Charges Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered.
Broken Period Interest/ Pre-EMI Interest "Broken Period Interest/ Pre-EMI Interest" shall mean the amount of interest on loan for the number of day(s) which is(are):

Scenario 1 : Over and above the period of 30 (thirty) days from the date of disbursement of the loan Method of recovery of Broken Period Interest/ Pre-EMI Interest:
  • For Term Loan : Deduct from disbursement
  • For Flexi Term Loan : Added to first installment amount
  • For Hybrid Flexi Loan : Added to first installment amount
Scenario 2 : Less than period of 30 (thirty) days from the date of disbursement of the loan, Interest on first installment will be charged for actual number of days.
Mortgage Origination Fees Rs. 3000/-
Property Insight (if availed) Rs. 6999/- (inclusive of applicable taxes)

Frequently Asked Questions

Any salaried or self-employed individual can apply for a Loan Against Property with Cash Dash as long as you meet our eligibility criteria. Your age, employment status and city of residence are other key criteria.

If you are a salaried Indian citizen residing in India, between the age group of 25 years to 70 years, or a 25 years to 70 years old self-employed Indian, you are eligible. Other factors like your income profile, your Cibil Score, etc. are also considered when you apply for a Loan Against Property.

* Terms & conditions apply

Loan Against Property is a secured loan in which you mortgage your property to a lender in exchange for a substantial sanction to cover your expenses. Several factors influence the final loan amount, including the individual's profile and repayment capacity, the property's market valuation, and the lender's loan to value ratio.

You can repay the total sum borrowed 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.

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