9999 6636 04
LoanUncle services are free for all our customers

Loan Against Property Must Read

Important Information / Must Read on Loan Against Property

  • The interest rate is usually more than 6.5%, but may vary from person to person
  • The maximum loan tenure is 15 years
  • A maximum loan amount of up to
    – 50% of property value for commercial setups
    – Up to 60% for residential properties.
  • Either security, collateral or guarantors is required to obtain a Loan against Property.
  • Properties on lease or based on power of attorney are not accepted by most banks
  • One can choose either Fixed or Floating interest rate.
  • Always ask for  0% processing fee. If that is not feasible then at-least negotiate the processing fees.
  • One can prepay the entire loan outstanding after 180 days of availing the loan. The charges of Pre-payment will be billed accordingly. Usually the bank charges 2% of the principal pre-paid.