Loan Against Property

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What is Loan Against Property


An, individual needs more cash at any given point of time. It can be needed for education, medical emergencies and even for wedding expenses. At these moments he/she can opt for either using their funds or to take a loan. But it is not possible to utilize your funds every time. Hence you can opt for a Loan against property. When a loan is given against a certain value of the mortgaged property, it is called as a Loan given against property. Such loans are given against a certain percentage of the property. The Bank/NBFC decides what should be the current market value of the property and accordingly will provide 40-60%* of it as loan amount to the borrower. Hyderabad is the famous pearl and diamond trading center in India. They are called as the “City of Pearls”. Here people can avail a Loan Against Property in Hyderabad by mortgaging their property. The process of taking a LAP in Hyderabad is simple. The lender will first analyze the value of your property. Once that is done, they will provide you with 40-60%* of the derived value of your property. You can then use this amount for your needs.

For what purposes you can use Loan Against Property funds?


There are many purposes why a person would want to take a Loan Against Property in Hyderabad. But he/she is under no obligation to mention that to the lender while applying for the loan. Yes, the lender doesn’t need to know why the loan is needed. These are multipurpose loans and hence an individual can use it for a variety of reasons.

What are the differences between Loan Against Property and Personal Loan?


A loan against property and personal loan have many differences. They have few similarities and hence people often get confused. Hence to clear this confusion we have mentioned key differences that show how different a LAP in Hyderabad is when compared to Personal Loan in Hyderabad.

1. A Personal Loan in Hyderabad is an unsecured loan and you don’t need to keep any collateral to get a loan from the Bank/NBFC. Loan Against Property in Hyderabad is a secured loan. Here you need to keep collateral with the Bank/NBFC either in the form of commercial or residential property.

2. A personal loan in Hyderabad is unsecured in nature and hence the rate of interest is always higher. This leads to the individual repaying higher EMI’s to the Bank/NBFC. LAP in Hyderabad is secured in nature and hence the rate of interest is lower than personal loans in Hyderabad. This leads to the individual repaying lower EMI’s to the Bank/NBFC.

3. A personal loan in Hyderabad is only approved by the Banks and NBFC after analyzing the applicant’s financial history. The tenure for a personal loan in Hyderabad is between 5-7 years*. LAP in Hyderabad is approved by the Banks and NBFC after analyzing the applicant’s financial history and after evaluating the current market price of the property. The tenure for a Loan against property in Hyderabad goes up to 15 years*.

What are the features of Loan Against Property?


  • Loan against property in Hyderabad is a type of secured loan. A borrower has to mortgage the residential or commercial property for loan against property.
  • This is a long tenure loan as the repayment period is as long as 15 years*. Banks and NBFCs in Hyderabad offer higher loan amount for longer tenure with enchanting interest rates as compared to other loan plans.
  • The process of obtaining LAP in Hyderabad is very quick and hassle free. Some banks approve the loan as quick as within three days*.
  • You can use your collateral property while repaying the LAP in Hyderabad, unlike gold where the gold ornaments remain with the banks or NBFCs and you don’t get them back until the loan is paid in full.
  • Borrower can avail loans from Rs. 5 lakh onwards against property, if they apply for Loan Against Property in Hyderabad. The minimum amount Rs. 10-15 lakh*.
  • You can get LAP in Hyderabad by keeping residential as well as commercial properties as mortgage.
  • The interest rates on this loan are decided considering various aspects of applicant’s profile. Like applicant’s monthly salary, income details of self employees or businessmen, amount taken as loan etc. As this is a type of secured loan, banks and NBFC’s offer lower rate of interest for LAP in Hyderabad.
  • The borrower is also supposed to pay all the hidden and extra charges such as processing fee and administrative fee for LAP in Hyderabad. The borrower also has to pay the bank for property valuation and its processing fee. Many banks ask to pay 1%-2% of loan amount sanctioned under LAP in Hyderabad.
  • Mortgage loans prove to be the best way to debt consolidation. That mean you can pay of your multiple debts by bringing them under a singular debt in Hyderabad.
  • If the property is owned by partners or directors of a company, it can be taken in the name of that firm.

What are the Eligibility Criteria to avail a Loan Against Property?


There is a certain criteria set by each lender if an individual wants to avail a LAP in Hyderabad. Once the individual can fulfill those criteria, they can get the loan from the lender. The criteria usually include certain general pointers for all the lenders;

    The criteria include

  • The individual must be a citizen of India
  • Individual’s professional stability and Income history.
  • Good credit history
  • Property must be under the applicant’s name.
  • Loan can be taken as co-applicants if the property is registered under multiple names.

The eligibly criteria for loan against property also changes based on applicant's profession. The details of the same are given below:

  • Salaried Applicant
  • The applicant should be a permanent employee with the government or a reputed company.
  • The applicant should be an employee with the existing company or government for minimum 3 months.
  • The minimum age to avail LAP transfer without top up for salaried applicant is around 24 to 25 years.
  • The applicant should currently be employed with existing organization.
  • The applicant should also have a good credit score.
  • Professional Applicant/ Self-Employed Applicant
  • This category is further divided into two:

    Self-Employed Professional: Doctor, architect, chartered accountant, etc.

    Self-Employed Non-Professional: Trader, commission agent, contractor etc.
  • The minimum age to avail LAP transfer without top up for professional applicant is 25 years and the maximum age has to be 65 years.
  • The applicant should be involved in his/her business for 3 years.
  • The applicant should be filing income tax returns regularly.
  • The property which is being mortgaged also has to be eligible to be kept as collateral in the bank or NBFCs. The property eligibility criteria are given below:
  • The property which will be kept as collateral should not be involved in any legal tangles.
  • The property should have clear titles registered in the name of the applicant.
  • The market value of the given property should be higher as the loan amount you'll get will totally depend on the current value of property.
  • The property which will be kept as collateral should not be involved in any legal matters.

What are the Documents Required to avail a Loan Against Property?


Loan Against Property in Hyderabad can be availed by an individual by submitting all the necessary documents with the application form. The list of documents is different as per the lender. But certain documents are needed in almost every bank. We have made a list mentioning these documents;

  • Documents Required for Salaried Applicant:
  • Neatly signed and filled loan against property application form.
  • Passport-size photographs.
  • Identity and signature proof - Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.
  • Address Proof - Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax.
  • Age Proof - Voter ID card, Secondary school leaving certificate (class 10), birth certificate, Passport, Aadhar Card, pension payment order or receipt of LIC policy.
  • Salary slips of last 3 months from application date.
  • Form-16 issued by current employer.
  • Bank statements of last 6 months from application date.
  • Copy of details of all existing loans.
  • A cheque covering the administrative costs/processing fees incurred by the bank in processing the application
  • Property papers with OC and CC.
  • Documents Required for Self-Employed Businesspersons:
  • Neatly signed and filled loan against property application form.
  • Passport-size photographs.
  • Identity and signature proof - Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.
  • Address Proof - Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax.
  • Age Proof - Voter ID card, Secondary school leaving certificate (class 10), birth certificate, Passport, Aadhar Card, pension payment order or receipt of LIC policy.
  • IT Returns of the three years preceding the one in which loan is applied for.
  • Copy of details of all existing loans.
  • Property papers with OC and CC.
  • Documents required for self-employed professionals:
  • Neatly signed and filled loan against property application form.
  • Passport-size photographs.
  • Identity and signature proof - Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.
  • Address Proof - Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax.
  • Proof of educational qualification which includes certificates, degrees, diplomas, and other academic credentials.
  • Business proof (registration of business)
  • Copy of challans proving that Advance Income Tax has been paid.
  • Copy of details of all existing loans.
  • Bank statements of last 6 months from application date.
  • Property papers with OC and CC.

Why Choose Ruloans To Apply For Loan Against Property?


Ruloans is India’s fastest growing financial distributor. We are into the loan business since a very long time. During this time we have partnered with over 50 private Banks and NBFC’s. Also over the years we have gained resourceful employees who are skilled and experienced in this industry. Using their knowledge and skills, we give our customers the best services possible. Our motto is to provide our customers services that are “much more than money”. We always help our customers borrow right.

Hassle free process

Our motto is to help our customers borrow right. Hence we have created an online portal which is easy to use and hassle free for the customer. With this, we aim to make the process simple for the average customer to understand.

Benefits of applying with us

Ruloans has been in the industry for a very long time. Hence with over 50 partnered Banks and NBFCs, you can expect the best services, deals and offers. This is a major benefit for every customer.

Compare your loan options

We have made our online process hassle free for the customer. They don’t have to log into different banks websites and check for quotes. All they have to do is log on to Ruloans web portal and they can find rates and deals from all our partnered lenders. Here they can compare the loan rates, tenure etc and choose the lender.

Free expert guidance and advice

Ruloans has gathered resourceful staff that has knowledge and skills related to the loan industry. We use these skills to help our customers borrow right. For all these guidance and expertise, we charge nothing. All the services are given to the customers free of cost.

Privacy policy

We at Ruloans believe in data security. Our customers data is highly protected. Only the lender of their choice and Ruloans has their documents. No one else gets access to this data.

How to Apply For a Loan Against Property on Ruloans?


  • Applying for a loan against property on Ruloans involves few easy steps:
  • Step 1:Go to the ‘LAP IN Hyderabad’ page on our website and click on ‘Check Your Eligibility’ box.
  • Step 2:Fill out the initial personal and financial information. Once completed, our loan calculator checks your eligibility with its highly efficient algorithm.
  • Step 3:Our loan calculator presents you a list of banks and NBFCs most suitable for you as per your eligibility criteria. The list will include the name of the financial institutions, interest rates, required document list etc.
  • Step 4:From the given list, you can choose the financial institute of your choice. You can start filling up the form and upload the required documents. Here, if needed, you can call or mail our experts for advice. The contact details are given on our website.
  • Step 5:Your application will be sent electronically to the bank you selected. You will be informed about the status of your application via SMS, email or you can track it via website too.

Frequently Ask Questions


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