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What is a Loan Against Property ?


A Loan Against Property or LAP helps you to purchase or maintain a home, land, or other types of real estate. Being secured in nature, LAP demands collateral against the loaned amount.

LAP offerings against your commercial or residential property put you in a position to use the value locked up in your property to meet any expenses of any nature.

You may select a high-value loan depending on the value of your property collateral for your borrowing.


Characteristics of LAP

Low-Interest Rates
Low EMIs
Faster Approvals
Minimal or Low Prepayment Charges
Funds for Multiple Uses
No End-Usage Restrictions
Residential and Commercial accepted as Collateral
Own your Mortgaged Property

Why Choose Ruloans for your Loan Against Property

Here are a host of reasons you must choose Ruloans for online or offline Loan Against Property.

  • Easy Availability

    Ruloans along with significant 100+ partner Banks across India spread over 1000+ locations extend Loan Against Property to all eligible individuals across India.

  • High-Speed Process

    At Ruloans, Aadhaar based e-KYC speeds up the documentation process by eliminating physical paperwork. You can obtain a LAP as soon as the inspection is done and approved.

  • Ruloans Digital Resources Advantage

    You can think about loan costs, offers, and online services on our digital platform. Our online resources will direct you to settle on the right decision, and pick the right bank for your advance according to your financial plan and assumptions.

  • Professional Guidance and Advice

    Experts at Ruloans know the ins and outs of the business. Our committed group of individual specialists will guide you to pick the right lender.

  • Profit from Best Offers

    We esteem our clients and are consistently on our toes to give them advantages of our abilities. Applying for Loan Against Property through us gives you an opportunity to benefit from the best offers and agreements our Partner Banks and NBFCs have on offer.

Application Process

How To Apply For A LAP



Check your eligibility




Click on apply now




Fill in personal and financial details




Submit application

Getting Started

Frequently Asked Questions

A Loan Against Property may be termed as a loan availed from a bank, housing finance company, or NBFC against property. The collateral property may be a piece of land, house, or a commercial or industrial property. Your asset remains as security with the lender concerned until you pay back the entire amount of the loan. Lenders generally offer such unsecured loans at lower rates of interest for a reasonable period.

Loans against property may be availed by salaried as well as self-employed people. Self-Employed persons or businesspersons take such a loan to meet cash flow needs, since such a collateral helps raised a large sum of money for lower rates. Salaried individuals may use such a loan to meet large expenses such as a wedding in the family, or education of a child.

Being a secured loan, such an arrangement may unlock the value of your property to put to use the money for various personal as well as business purposes, which could vary from expanding business to sudden and emergency expenses. Easy availability makes this product popular, as some lenders are ready lend you up to 70 percent of your property value. The terms and conditions offered in terms of interest and repayment are also better compared to other loans. Additionally, you can avail tax benefits on this type of loan, and if you plan to pay back the loan earlier than the loan tenure, some lenders don't even charge you a prepayment penalty.

Loans against Property feature benefits such as below
  • Any type of Property accepted as Collateral

    You may avail a LAP against any type property. The property may be a house, a piece of land, a commercial property, or an industrial property.

  • Low Rates of Interest

    Rates of Interest are comparatively low on LAPs as such loans are secured loans against property.

  • Transfer of Existing Loan

    Most lenders offer you a facility to transfer your existing loan against your property, and such offers allow you to save money.

  • Quick and Transparent Process

    The LAP process happens to be a streamlined and transparent process, which gives you the benefit of quick approval.

The following are the stages involved in taking a loan against property
  • Application
  • Document Verification
  • Background Check
  • Payment of Processing Fee
  • Loan Approval
  • Property Documents Processing
  • Loan Disbursal

  • Loan against Residential or Commercial Property
  • Loan against Property for Self Employed Persons
  • Loan against Property for Salaried Employees
  • Loan against Property for Home Renovation
  • Loan against Property for Education
  • Loan against Property for Wedding
  • Loan against Property for Debt Consolidation
  • Loan against Property for Property Balance Transfer
  • Lease Rental Discounting
  • Loan against Property for Chartered Accountants
  • Loan against Property for Doctors

The term Amortization Schedule refers to a complete table of periodic loan payments showing the principal amount and the interest amount comprising each payment until the complete repayment of the loan at the end of the term.

The term Negative Amortization on the other hand refers to an increase in the principal balance of a loan caused by the failure to cover interest due on the loan.

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Eligibility Criteria & Calculator

Frequently Asked Questions

The following are the general eligibility criteria for a Loan against Property
  • Age
    • Salaried: 21 to 60 years
    • Self Employed: 25 to 65 years
  • Nature of work
    • Salaried employee in an MNC, a Private Company, or Public Sector
    • Self-Employed individual with a steady source of income
  • Nationality
    • Resident citizen of India
  • Credit Score
    • 700+

For more details check Loan Against Property Eligibility Criteria & Calculator

The eligibility criteria for your to be kept as collateral with the Bank or NBFC are as follow
  • Property should not be involved in any legal tangles.
  • The registration of the property should be in the name of the applicant with clear titles.
  • Market value should be higher than the loan amount.
  • Property must not be mortgaged with any other financial institution.
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EMI Calculator

Frequently Asked Questions

Lenders calculate a Loan against Property based on the following criteria
  • Age

    Age plays an important role in determining the calculation of a LAP; an applicant should be maximum 65 years of age at the time of maturity of the loan.

  • Income

    Income reflects the applicant's income stability and repayment capacity of a loan.

  • Value of Property

    A lender decides the value of a LAP, generally a percentage of the value of the property mortgaged. The maximum value can be 90% of the property value.

  • Credit score

    Credit score reflect your creditworthiness in terms of repayment capacity based on past records.

  • Work Experience

    The job stability of a salaried or self-employed applicant plays an important role in determining the calculation of a LAP.

Your mortgage Loan EMI depends on three factors.

  • Loan Amount or Loan Value
  • Rate of Interest
  • Loan Tenure or Period of Loan

Use the following mathematical formula to calculate you EMI.

EMI = P x r x ( 1 + r ) n / [ ( 1 + r ) n - 1 ]


  • P = Loan Amount
  • R = Rate of Interest
  • N = Loan Tenure in Months

The Ruloans Loan Against Property EMI Calculator specalizes in computing you equated monthly instalment without effort and with ease. The following form fields are marked into the calculator.
  • Loan Against Property Amount
  • Interest Rate
  • Loan Tenure (In Months)

The slider method does not need you to key in the preferred numerical figures. Moving the slider to the required range from a given range gives you results simultaneously. The results are displayed as follows.

  • Loan EMI
  • Total Interest Payable
  • Total Payment (Principal + Interest)

For more details check Loan Against Property EMI Calculator

Interest Rate & Processing Fees

Frequently Asked Questions

When you decide to opt for a fixed rate of interest on your loan against property, the interest rate remains constant throughout the period of the loan. Depending on your lender, you may be charged an interest rate of 8.50% to 12% per year. On the other hand, when you opt for a variable rate of interest, you pay an interest charge that varies according to market conditions.
Documents Required

Frequently Asked Questions

To prove your eligibility for a Loan Against Property, you will have to furnish documents with regards each eligibility criteria. Documents required are listed below
  • Filled Application Form
  • 3 Passport Size Photograph
  • Photo Identity Proof
  • Proof of Age
  • Address Proof
  • Income Proof
  • Income Tax
  • Employment Proof
  • Mortgage Property Documents
  • Existing Loans Documents
For more details also check additional documents required for Self-Employed, Non-Salaried, MSMEs, and SMEs [linl]
Balance Taransfer & Topup

Frequently Asked Questions

A Loan Against Property Balance Transfer allows you to transfer your outstanding principal on your existing loan against property to another Bank or NBFC at lower interest rates. A well-planned loan balance transfer helps you reduce your EMIs, save on interest outgoings, and reduce your debt burden.
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