'Loan Against Property', is also known as mortgage loan. This is one of the types of a secured loan as collateral is involved. This means if you need this loan, you will have to hold your property as mortgage with the bank. Any property whether it is commercial or residential, can be used in order to get a loan against property. The main highlight of the loan against property is that you can get 40-65%* of the property's value as the loan amount. Hence if you happen to have more than one property under your name, you can keep the costlier property as collateral. This will help you get a higher loan amount. The lender will evaluate your property and finalize the market value for it. On the basis of that value, you will get the loan amount.
The maximum term of your home loan can be up to 30 years and it cannot extend beyond your retirement age or 60* years (whichever is earlier). *60 years for salaried individuals and 70 years for self-employed individuals.
You can get a home loan up to 90% of the cost of a chosen selected property for the loan requirement up to Rs. 30 Lakh*, depending upon the loan amount required.
Your home loan amount depends on your annual income and your ability to repay the loan. You can increase your home loan amount by adding an earning co-applicant.
Your home loan interest rate starts from 8.40%* p.a. Know more about fees and charges (*T&C Apply)
You can pay your home loan EMIs through:
Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank
Post Dated Cheques (PDCs) - Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available.)
*As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is Rs. 2,00,000/- for the interest amount paid in the financial year and up to Rs. 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.
Loan Term
Loan Amount
Interest Rate & Charges 
Modes of Repayment
Tax Benefits