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Loan Against Property

A better way to manage your cash flows

Loan Against Property

If you are a growing business and often face cash flow issues, you can use our Loan Against Property to resolve these issues for good. Whether it’s to pay suppliers or salaries, stock inventory to meet growing demand or cover running expenses, our Loan Against Property is ideal for businesses of all sizes.

The advantage is that you can leverage a passive asset like property to ensure the smooth running of your business. You can get a business loan against all kinds of property – residential, commercial and industrial.

Based on the value of our property, you can get a loan of up to ₹ 3 crore at competitive rates and with easy repayment options.

A dedicated relationship manager will guide you through the formalities to make sure that you get the best deal and that the processes don't take too much of your valuable time.

To make the process smoother for business owners like you, we offer doorstep services and hassle-free documentation.

Quick Apply

Key Features of Business Loan

Business Loans funding across a wide range of collaterals and different types of properties
Quick sanctions and smooth processes: You run your business, we will take care of the formalities
Higher eligibility, maximum loan amount: Our comprehensive assessment allows us to give you the maximum loan possible

Eligibility

  • Salaried

    Age

    • Minimum Age- Minimum Age- 21 years
    • Maximum Age- Income contributor (Govt employee) - 70 yrs (if pension considered)
      Income contributor (Others) - 62 yrs (or restricted to retirement age)

    Employment Type

    Working in a
    • Govt. institution
    • Public Sector Undertaking
    • Private Sector Companies such as Limited Companies / Private Limited companies
    • MNC
    • Partnership firm / LLP
    • Proprietorship concern (Individual / HUF)
    • Institutions run by Trust / NGO / Society / others

    Documents needed

    • Income Tax Returns for the latest 2 years
    • KYC Documents
    • Form 16
    • Bank statements for the last 6 months and salary slips
    • Documentation pertaining to the property offered as collateral.
  • Self-employed

    Age

    • Minimum Age- 23 years
    • Maximum Age- 70 years

    Employment Type

    • Self Employed Professionals: Qualified doctor (MBBS/MD/MS), CA and Architect.
    • Self Employed Non-Professionals, Business Owners, Proprietorship, Partners of Partnership Firm and Promoter/Director of closely held private and public limited companies.

    However, Director of listed Public companies will be treated as Salaried

    Documents needed

    • Last 2 Years ITR With Compitation / CA Audited Financials Where Ever Applicable
    • KYC Documents
    • Form 16
    • Bank statements for the last 6 months.
    • Documentation pertaining to the property offered as collateral.

Interest Rate

Interest Rate
Customer Type Rates
Salaried / Self Employed Interest Rates starting from 11.5%* p.a
Fees & Charges
Fees & Other Charges as applicable on application/ during the term of Loan are as under. These are subject to modifications from time to time as decided by Lender as per its internal policy and any such modification shall be notified by the Lender through its website or its branches or such other medium as Lender may consider appropriate
Schedule of Fees & Other Charges Details
Processing Fees
  • Non-home Loan: Processing Fees up to 4 % of Loan amount + applicable taxes (payable before disbursement of Loan)
  • On cancellation or withdrawal or rejection of loan application (prior to handing over of loan cheque) minimum of ₹ 5000/- + applicable taxes or the initial processing fee, whichever is lower, will be held back.
Part Payment/Pre-closure charges
  • Non Home Loan (for the purpose other than business) availed by Individual/s at Floating Rate of Interest: No charges.
  • Non home loan for business purposes availed by individual/s at floating rate of interest: 4% of principal amount of Loan being prepaid + applicable taxes.
  • Non Home Loan availed by Non Individual as a borrower at Floating/Fixed Rate of Interest: 4% of principal amount of Loan being prepaid + applicable taxes.
Loan repayment instrument dishonour charges ₹ 500/- + applicable taxes
CERSAI charges ₹ 500/- + applicable taxes
Loan Pre-closure Statement ₹ 1000/- + applicable taxes
List of documents deposited with the Lender ₹ 500/- + applicable taxes
Loan Repayment Schedule ₹ 500/- + applicable taxes
"Re-scheduling Loan terms (e.g. EMI Date change / EMI increase /Lowering of Tenor" ₹ 5000/- + applicable taxes
No Due Certificate issuance charges 1st time free; subsequently ₹ 500/- + applicable taxes
Statement of Account Free once a year; subsequently ₹ 500 + applicable taxes
Photocopy of documents ₹ 1000/- + applicable taxes
Retrieval of original property documents ₹ 2000 + applicable taxes
Additional Charges 2% p.m. on Outstanding Amount for the non-compliance of any terms and conditions of the Transaction Documents by the Borrower, for the period beginning the date of such noncompliance until the same is cured to the satisfaction of the Lender + applicable taxes
For detailed fees & charges and other Terms & Conditions click here

Documents

  • Salaried

    Applcation Form

    Application form with a recent photograph

    Proof of Identity

    • Passport
    • Driving License
    • Aadhaar
    • Voter's Identity Card
    • Job card issued by NREGA
    • Letter issued by the National Population Register containing details of photo / name

    Proof of Income

    • Last 3 Months Salary Slips
    • 2 Years Form 16.
    • 6 Months Bank Statement With Salary Credit
    • Bank statements for the last 6 months and salary slips
    • Documentation pertaining to the property offered as collateral.

    Proof of Residence

    • Passport
    • Driving License
    • Aadhaar Card
    • Voter's Identity Card
    • Utility bills like Telephone Bill /Electricity Bill etc.
    • Job card issued by NREGA
    • Letter issued by the National Population Register containing details of photo / name and address.

    Co-applicant

    Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases

    • spouse or any first blood relative like parents, siblings, children who have attained age of maturity (s.t. income-ownership grid)
    • All co-owners of property should be on loan structure
    • Friends cannot be co‐applicants (allowed only if they are coming in the capacity of Partners/Directors/Shareholder)
  • Self-employed

    Applcation Form

    Application form with a recent photograph

    Proof of Identity

    • Passport
    • Driving License
    • Aadhaar
    • Voter's Identity Card

    Proof of Income

    • Last 2 Years ITR With Computation.
    • CA Audited Financials Where Ever Applicable
    • 6 Months Primary Bank Statement

    Proof of Residence

    • Passport
    • Driving License
    • Aadhaar Card
    • Voter's Identity Card
    • Utility bills like Telephone Bill /Electricity Bill etc.

    Co-applicant

    Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases

    • Co‐applicant can be spouse or any first blood relative like parents, siblings, children who have attained age of maturity (s.t. income-ownership grid)
    • All co-owners of property should be on loan structure
    • Friends cannot be co‐applicants (allowed only if they are coming in the capacity of Partners/Directors/Shareholder)

Frequently Asked Questions

  • What is a Loan Against Property?

    The loan you take by keeping a self-owned property as collateral is called a Loan Against Property (LAP) or a secured loan. The value of the property determines the amount of loan that can be sanctioned. The property will be owned by the lenders if you are unable to pay the loan.

  • How does a lender decide the amount given as a Loan Against Property?

    Lenders look at your repayment capability and asses your eligibility based on your income, age, employment stability, and other assets and liabilities. The loan doesn’t exceed more than 60% of the property market value. With a co-applicant, a higher amount can be lent.

  • What can a Loan Against Property be used for?

    With a loan on property, you can use it for any purpose, similar to a personal loan. From renovating your home, starting a business, funding medical expenses or even going on a long vacation, you can take a loan to fulfil all your needs.

  • On what types of properties can you avail a loan against property?

    You can avail loan on property using

    • Self-owned residential properties
    • Self-owned and self-occupied residential properties
    • Self-owned but rented residential properties
    • Self-owned commercial properties
    • Self-owned but rented commercial properties
    • Self-owned plots
  • What are the documents necessary to avail a Loan Against Property?

    The necessary documents for a Loan Against Property are (may vary for salaried and self-employed professionals):

    • Identity Proof (PAN card is mandatory)
    • Address Proof
    • Proof of income
    • Property documents

From homeowner’s heart

We are in the business of financial planning but the day I finalised my property, I needed to get a loan and I found Piramal to be the best option. They cater to all the requirements of the customers and helped me at every single step along the way.

Nirmal Dand,Financial Planner

I have availed Loan From PCHF for Business Expansion. I was attended with utmost professional attitude and perfection. PCHF very patiently answered all my queries and resolved all doubts. Once again, thanks a lot for serving my needs with such warmth.

Mohd Irshad Ansari,VT Engineering. Indore

I was very much delighted with the way the loan was disbursed. I would like to also thank for the quickest response by PCHF executive. The loan was disbursed in a week’s time in a hassle free manner.

CH Maruthi Prasad,Digital Age, Hyderabad

Appreciate the efforts of PCHF for quick and smooth processing of my Loan Against Property. PCHF team understood my requirements and explained the process, product details and required document list. PCHF was helpful in every step and gave me quick loan sanction. Thank you PCHF.

Dileep S,Peenya