Loan Against Property: Frequently Asked Questions

Q: What are the documents required for loan against property?

As we provide a loan for salaried individual, self employed individuals and companies, you can check the complete list of documents required as per your applicant category in our Eligibility and Documents section.

What is a Loan against Property (LAP)?

It is a secured loan that can be availed against existing residential/commercial property, to fulfil every personal need, business need or any unexpected financial expenditure. The property pledged acts as a collateral while you continue using it. As we understand your urgent need for funds; we provide a higher loan amount against your property with minimal documentation, competitive interest rates for longer tenure, and quick approvals with no hidden charges.

What are the benefits of availing Grihum Housing Finance Loan against Property?

Our customized features and offerings on Loan against Property are designed to help you address your financial needs with the benefits of:

Maximum loan amount of the property value at competitive interest rates.
Simple documentation for quick and easy loan processing.
Longer repayment tenure with zero foreclosure charges.
Top Up on loan and Balance transfer facility.
Doorstep service assistance.

Will I get a Loan against Property if I have joint ownership of the property?

Yes, you can avail a loan even if you jointly own the property. However, all the property owners should be co-applicants to the loan.

Can I take loan against my house?

Yes, you can avail the loan on your residential as well as commercial properties while you continue to enjoy using it as before.

What is the Grihum Housing Finance Loan against Property interest rate?

With Grihum Housing Finance, you enjoy competitive Loan against Property interest rate starting at 15.50% p.a.

What is the maximum tenure for which I can avail loan against property?

At Grihum Housing Finance, you can avail a flexible loan tenure ranging from 5 to 15 years, thus ensuring you enjoy affordable monthly instalments.

What is the maximum funding I can avail for a loan against property?

Our Loan against Property offering, helps you avail the best mortgage loan value from as low as ₹5 Lakhs to ₹25 Lakhs depending on your eligibility.

Can I foreclose / pre-pay my loan amount before the tenure?

Zero charges are applied when you choose to foreclosure or prepay your loan availed other than Business end Usage.

What types of property can I use to take Mortgage Loan?

The Loan against Property is a convenient option to finance your business as well as personal needs by pledging your property, be it self-occupied or rented as collaterals:

Apartment / Flat / House/ Villa, etc.
Commercial properties like office building / shops

What are the documents required for loan against property?

You can check the complete list of documents required as per your applicant category in our Eligibility and Documents section.

Who can avail for Loan against Property and what is the eligibility criteria?

Our affordable Loan against Property can be availed by individuals as well as non-individual entities / companies to meet every financial need, be it business or personal. To know and understand your eligibility criteria, please refer to our Eligibility and Documents.

Do I get any tax benefits on Loan Against Property Loan?

No. The tax benefits are limits only to Home loans and are not applicable for LAP.