Loan Against Property
Loan Against Property (LAP) lets you take out a big loan by using your home or commercial property as collateral. Compared to other loans, these have lower interest rates. Business expansion, education, medical, or personal needs? No worries! Loan Against Property is flexible in what you can use it for, and is one of the cheaper options for loans.
Maxima_Loanz offers quick approvals, simple terms, and flexible loans to help you meet your goals without losing your property.
How much loan can I get?
Most lenders offer between 50% to 75% of the property’s market value, depending on its condition, location, and your income profile. Some premium properties can get a higher percentage.
What is the interest rate for LAP?
Interest rates generally start from 8.75% to 12.5% per annum. The exact rate depends on the lender, loan amount, credit score, income capacity, and type of property mortgaged.
What documents are required to apply?
Basic requirements include address & ID proof, bank statements, income proof (salary slips/ITR), and property papers (ownership documents, tax receipts, approvals). Requirements may vary by lender.
Can I continue using the property after taking the loan?
Yes. You retain full ownership and can continue living in, using, or renting the property. It is only mortgaged and will be released after complete repayment.
What is Loan Against Property?
A loan against property is a secured loan, which means you are putting down your property as collateral to receive money from a lender. Even while you are paying the loan off in monthly payments, you still use and have ownership of the property.
Because the loan is secured, lenders tend to give out larger amounts of money and hlower interests compared to personal loans or unsecured business loans.
Purpose of LAP:
- To fund a medical emergency
- To fund the wedding event of your child
- To fund the much-awaited vacation
- To expand your business
- To fund your child’s education
Below are some of the benefits of a Loan Against Property
Long Repayment Tenure
A Loan Against Property (LAP) offers a repayment period of up to 15 years, enabling borrowers to spread their EMIs over time, maintain a stable cash flow, and reduce their monthly financial burden.
Lower Interest Rates
Compared to other unsecured products, such as personal loans, which typically have high interest rates, LAP (Loan against Property )has lower interest charges.
Lower EMIs
With a longer tenure (up to 15 years), Loan Against Property reduces EMIs, lowers the loan burden, and helps manage finances comfortably without affecting cash flow.
Easy to Avail
You can easily avail a LAP as it is a secured loan type and banks are willing to provide the credit. If you have a property, you can mortgage it with a reputed bank to get a loan for any business or personal needs.
How Can Our Team Help You to Reach Your Goals
Personalized Loan Guidance
We assess your financial profile and recommend the best loan options, interest rates, and lenders tailored to your needs.
Documentation & Application Support
Our team helps you prepare and submit all documents correctly to ensure a smooth and fast approval process.
Best Interest Rate Negotiation
We negotiate with banks and financial institutions to get you the most affordable interest rates and flexible repayment plans.
End-to-End Assistance Until Disbursement
From application to sanction to loan disbursement, we support you at every step so you get your home loan without stress.
Types of Loan Against Property
Residential And Commercial Property Loan
Use your house or apartment as collateral to access funds for personal or business purposes
Leverage your office, shop, or commercial property to secure a higher loan amount
Self-Occupied Property Loan
Suitable for properties you currently live in, allowing you to unlock funds without selling your home.
Lease Rental Discounting (LRD)
For property owners earning rental income. Loans are offered based on rental cash flow.
LAP for Business Needs
Ideal for business expansion, working capital, or investment opportunities using property as security.
Eligibility Criteria for Loan Against Property
It’s good to know about Left Loan Against Property (LAP) before applying. With Maxima Loanz, we look at your financials, plus property, and your ability to pay back to find the best loans to fit your needs. Other lenders may have different requirements, but generally, we look at these.
1. Age: To qualify, a person must be a minimum of 21 and a maximum of 65 when applying for a loan. Depending on their age, the lender assumes a person has certain remaining working years, which determines how long a loan he/she would be able to pay back.
2. Job & Income: Whether you work for a company (salaried) or run your own business (self-employed), you can get a loan. As long as you have proper and regular financial documentation, you may be able to qualify.
3. Your Credit Score: With a score of 700 or more, you will easily get approved for loans and can get better loan conditions.
4. Your Property: The property you are using for the loan must already be yours (no mortgages against it), and you must have your own original/legal documents to support your ownership of the property.
5. Your Ability to Pay Back (Instalments/EMI): The lender will look at your income (after taxes) plus any other loans you may have to see if you can afford the loan, and how much.
6. Property Value: How much the loan will be depends on the propertyis value in the current market. Usually, lenders lend a percentage of the property value.
7. Nationality & Residency: For now, only Indian citizens’ and residents’ applications are eligible. Depending on the policy, some lenders may grant LAP to NON-RESIDENT Indians.
Documents Required for a Loan Against Property
If you want a fast approval and easy processing of your loan, it’s best that you have all of your documents prepared ahead of time. Maxima Loanz simplifies the documentation process so you can have an easier time with your Loan Against Property application.
1 . Identity Proof
- Aadhaar Card
- PAN Card
- Passport
- Voter ID
- Driving License
2. Address Proof
- Aadhaar Card
- Passport
- Utility Bills (Electricity / Water / Gas)
- Rental Agreement (if applicable)
3. Income Proof
- For Salaried Applicants
Last 3–6 months’ salary slips - Bank statements (last 6 months)
- Form 16 or Income Tax Returns
- Employment ID or appointment letter
For Self-Employed Applicants - Income Tax Returns (last 2–3 years)
- Profit & Loss Statement
- Balance Sheet
Bank statements (6–12 months) - Business registration proof or GST certificate
4. Property Documents
- Original property title deed
- Sale agreement/purchase agreement
- Approved building plan
- Property tax receipts
- Occupancy certificate (if applicable)
- NOC from the builder or society
5. Additional Documents
- Passport-size photographs
- Loan application form
- Existing loan statements (if any)
- Processing fee cheque (if applicable)
