The term 'loan against property' refers to a situation in which the borrower takes a loan from a bank or financial institution where the security for the loan is a property that is owned by the borrower. If you own a valuable asset in the form of house (self occupied, rented or vacant) or a commercial property you can go for a loan against property. Loan against property is a multi-purpose loan with longer tenure and lesser rate of interest. It would like to leverage your property without giving it on rent or selling it?

You can now take a loan against property against your residential or commercial property, to expand your business, plan a dream wedding, fund your child's education and much more. Loan against Property is to meet your business or personal needs.

Loan against Property solutions will help you to unlock the hidden value of your property. With Loan against property you can now fulfill any of your personal or business needs. What's more, this loan can be repaid comfortably over as many as 15 years. Loan against Property / Mortgage loan is obtained by the way of mortgaging the asset with the lending institute.

Loan against property is a very good borrowing option as there are several advantages of a property, which include possibility of appreciation in value, being in the nature of a fixed asset, income earning potential and so on. This allows the best use of the property that is owned and at the same time will enable the raising of funds required for various purposes.

Also, a loan against property comes with a low interest rate compared to that of a personal loan or home loan. Proper use of the funds will ensure that the maximum benefit is taken from the position. The value of an asset or property should be enough to qualify the sanction of the loan amount as needed by the borrower. Loan against Property (Mortgage loan) is opted for when the amount required is considerably more and cannot be raised by the means of unsecured loans and the repayment period is comparatively more than 5 years. Generally the properties having appreciating value in market are considered good for mortgage Loan like Residential or commercial premises etc.

Creative Finserve can arrange you Loan Against Property in following programs

1) Average Banking Program

In Loan Against Property Average Banking signifies that the client's banking should be healthy. Generally customers who does not have a strong financial (IT) return and who has a healthy bank statement can avail this programme This program works on the basis of average bank balance of last consecutive 12 month. In Loan Against Property calculation is done on the closing balance on respective days as per banks /NBFC. Whatever is the average bank balance the same amount is called average banking. For calculation one year banking is mandatory. Calculation method of the average bank balance on the closing balance amount on every 5th 10th 15th etc day on every month in the bank statement.(Dates may vary from bank to bank) Monthly three credit transactions required in the last 6 months. Every BANK/NBFC'S has their own multipliers as per customer requirements. These multipliers is multiplied by the average bank balance amount, the amount comes is taken as affordable property loan EMI as customers eligibility of the Loan Against Property. This programme is mainly beneficial to self employed. Multiple business accounts can be clubbed in this programme.

2) Banking Turnover Program

This is a unique programme formulated by few private banks. In this variants customers needs to concentrate on their credits transaction. Generally customers who does not have a strong financial (IT) return and who has a healthy bank statement can avail this programme In Loan Against Property banking turnover is a unique programme where customer can avail this with minimal documents. For more details contact Creative Management Team.

3) Mortgage Take over (RTR Surrogate)

Customers who has already taken mortage loan with good track record and already completed more than 12 EMI's are eligible under this programme to avail Loan Against Property.

4) LIP

Customers who does not have a strong financial papers instead have average banking transcations can avail this facility. Customers who carry out their business in more in cash are eligible for this product. Normally banks ask for minimal document in LIP (Liquid Income program)

5) Low LTV @ 35%

In this programme customers financial papers are not taken in to consideration while calculating the eligibility.In LAP programme customer can avail maximum 35% of the market value whatever may be his income.

6) Gross Turnover

Here customers sales turnover is taken in to consideration. He should be having a strong financial background and healthy bank statement. Customer should be having a steady business going with a good experience. Customer credit rating is the most imperative point.

7) Gross Profit

In this, calculation is derived from his business gross profit. Customer should be having a steady business going with a good experience. He should be having a strong financial background and healthy bank statement. Manufacturers and traders can take benefit from this programme. Customer who does not show healthy turn over can benefit from this programme.

8) Banking Turnover

In this product BANKS/NBFC'S calculate customer's eligibility by calculating your bank's turnover. Your bank statement should be healthy. Customers who are mostly in to cash business can take advantage of this programme.

9) Gross Receipt

This programme is mainly designed for self employed professionals. Calculation is done on your gross receipt and your financials plays a pivotal role. Customer who does not show healthy turn over can benefit from this programme.

• Our expertise to get u the right Banks / Institute to fulfill your requirement
• Provides you with instant liquidity when you require it the most without selling your property.
• Loan repayment in flexible tenures from 1 year up to 15 years
• Higher Loan amount with Lower EMI.
• Funds can be used for business as well as personal needs.
• Flexible repayment - Option to choose between Dropline Overdraft Facility or EMI based loan.
• Residential and commercial properties accepted as collateral.
• Excellent debt consolidation tool.

There are several steps in the Loan Against Property process. Here are the steps in brief:

• Application form & Document Submission
• Cibil report check
• Residence verfication
• Office
• Eligibility calculation
• Technical & Valuation
• Personal Discussion
• Credit decision
• Offer Letter
• Submission of Property documents & legal check
• Registration of property documents
• Signing of agreements and submitting post-dated cheque
• Disbursement

SELF EMPLOYED INDIVIDUAL

• An Indian Resident
• You should be in business for a minimum of 3 years.
• You should be self employed Minimum 24 to maximum 65 years of age.
• Your current place of residence should be occupied for a minimum of 3 years in the city.
• You should have residence or office owned

SELF EMPLOYED PROFESSIONAL

• An Indian Resident
• You should be in business for a minimum of 3 years.
• You should be self employed Minimum 24 to maximum 65 years of age.
• Your current place of residence should be occupied for a minimum of 3 years in the city.
• You should have residence or office owned

Salaried

• You should 3 years work Experience.
• You min age should be 24
• Your maximum age should be 58/60 at the time of closer of the loan.
• You should have Minimum Rs 20000/- Net Salary
• You should have Own residence

To qualify for a Loan Against Property, most of the lending institutions in India require you to be:

Documents	Salaried	Self Employed Properitorship Firm	Self Employed Partnership Firm	Self Employed Pvt Ltd / Ltd
Application Form With Photograph Duly Signed
Clear Pancard Copy, (Applicant & Co-Applicant)
Latest Residence proof (Applicant & Co-Applicant)
Latest Office Proof (Applicant & Co-Applicant)
Last 3 Months Salary-Slips
Last 12 Months Bank Statements
Processing Fee Cheque
GST Certificate & GST 3b Copy Last 1yrs
Form 16 / Income Tax Returns Of Last 3 Yrs
All Loan Sanction Letter If Any
Business Profile
Proof Of Business Existence ( Gumasta License , Sales Tax Certificate , Form 26AS , )
Last 3 Years ITR with CA Certified / Audited Balance Sheet And Profit & Loss Account
MOA /AOA
Partnership Deed
Company Pancard Clear Copy
Shareholding Pattern On Letterhead
Sundry Debtor & Creditor List Last 1year
Property Papers ( Chain Of Agreement, OC, CC, BMC Approved Plan & Share Certificate Front and back copy,Society NOC) / Draft Agreement, Cost Sheets.

Loan Against Property Eligibility Calculator lets you calculate the installments you will be paying every month depending on the Loan amount and its tenure. In Loan Against Property Calculator you can calculate your EMI each month till the loan is fully paid to back along with the interest to the Bank. In Loan Against Calculator you can monitor your repayments and can understand how much interest your are paying throughout the tenure. In Loan Against property Eligibility Calculator you can calculate your tentative eligibility by giving your income details. You can fill your income expenses and can roughly calculate your eligibility. If you have any EMI serving while applying loan you can calculate your eligibility by using our Loan Against Property Eligibility Calculator.

Loan Against Property Eligibility Calculator lets you calculate the installments you will be paying every month depending on the Loan amount and its tenure. In Loan Against Property Calculator you can calculate your EMI each month till the loan is fully paid to back along with the interest to the Bank. In Loan Against Calculator you can monitor your repayments and can understand how much interest your are paying throughout the tenure. In Loan Against property Eligibility Calculator you can calculate your tentative eligibility by giving your income details. You can fill your income expenses and can roughly calculate your eligibility. If you have any EMI serving while applying loan you can calculate your eligibility by using our Loan Against Property Eligibility Calculator.

A Loan Against Property (LAP) is exactly what the name implies - a loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property's market value, which may differ bank to bank. Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. You can use your house as collateral to take a loan from a bank. The latter will exercise due diligence as far as the property is concerned, appraise its value, and offer you certain percentage of its value as loan.

Loan Against Property Calculator lets you calculate the installments you will be paying every month depending on the Loan amount and its tenure. In Loan Against Property Calculator you can calculate your EMI each month till the loan is fully paid to back along with the interest to the Bank. In Loan Against Calculator you can monitor your repayments and can understand how much interest your are paying throughout the tenure. In Loan Against property Calculator you can calculate your tentative eligibility by giving your income details. You can fill your income expenses and can roughly calculate your eligibility. If you have any EMI serving while applying loan you can calculate your eligibility by using our Loan Against Property.

Equated Monthly Installment - EMI for short - is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid. The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to be paid monthly. The interest component of the EMI would be larger during the initial months and gradually reduce with each payment. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though your monthly EMI payment won't change, the proportion of principal and interest components will change with time. With each successive payment, you'll pay more towards the principal and less in interest.

In EMI calculator you will be able to analysis the total output of interest you will be paying. In this mechanism you will be able to know the total EMI paid and the interest payable. In EMI Calculator you can also come to know how much interest you will be paying throughout the tenure. To work effectively on EMI Calculator you must be aware of the Loan Amount and the rate of interest. In EMI calculator you will come to know the total interest paid at the end of the Loan tenure.

If you are not satisfied with the calculator output please call us for a personalized solution for your requirement.

Important information

All applications for credit are subject to Banks normal credit approval criteria. Terms and conditions are available on application of every bank in which loan will be applied.

This is an estimate and it is provided for illustrative purposes only and is based on the accuracy of information provided. It does not constitute a quote. To apply for a loan you must complete an application.

The repayment amount and total interest payable excludes Processing fees and Mortgage Insurance / Life Insurance.

If a Variable Rate Loan is selected, the interest rate will be subject to market change throughout the term of the Loan.

Results are based on amortised scheduled repayments and, once any discount or fixed rate period expires, the current variable rate or the variable rate is applied for the remainder of the loan term (unless another fixed rate period is taken).

Creative Finserve will not store the information provided in this calculator.