Get up to 65% of the current value of your property or asset as a loan to fund planned needs – home renovation, wedding in the family, children’s education, investment in business and so on. Our loan against property application will reach the best lenders and they definitely offered attractive interest rates.

Borrow against commercial property or rental property and choose between a drop-line (OD) overdraft mortgage loan or a monthly EMI-based term loan.

Maximum Loan Amounts

Get a loan against your property worth up to 65% of the current market value of the particular property. Our registered lender banks will provide high loan amounts and also come with longer repayment EMI tenures, all at attractive best and lowest interest rates.

Where you have a Need just fulfil it

Both commercial and residential* are accepted in lender banks as collateral for your mortgage loan, and the money from the lender bank’s Loan Against Property can be used for a variety of business or personal requirements or needs.
*Conditions Apply

Easiest Monthly EMI repayment options

With the lowest competitive interest rates given by our 99banks registered lender banks, borrowers can easily repay loans in low EMIs, or you can choose a lender’s Dropline Overdraft Facility.

Processing is transparent

All our lender bank’s charges are communicated up front, at the time of the initial processing of the loan against property. No hidden charges or fees were added.

Fast, best and most Efficient Servicing by our registered lenders

With 99banks AI automated online loan registration service, your application for Loan Against Property will be processed quickly and easily by the best lenders.

Self employed benefits while borrowing Mortgage loan

A self-employed individual can get benefit from customized loan options and specially designed programs given by our registered banks and private lender banks.

Easy Debt Consolidation

Remember, the 99banks online loan portal’s registered banks providing a Loan Against Property is an excellent debt consolidation tool.

Loan against property eligibility as usual like all other loans depends upon the borrowers credit ratings along with some major factors like income, age, number of dependents, qualification, spouse’s income (if married and have income), liabilities, mortgage assets or any other own assets, and continuity of the current occupation also checked previous work history. Once the mortgage loan is approved, the approved loan is disbursed either in full payment or in instalments as instructed or requested by the loan borrower. The loan borrower has given the option to choose from floating and fixed rate of interest, and in general there is an option for part prepayment or full prepayment of the loan against the property before the date of completion of the loan EMI tenure chosen by the borrower at the time of loan received.

The loan against commercial or home which is extended to the loan borrower on behalf of the bank or private lender usually takes place based on the market price of the property pledged also the loan is disbursed up to 65% of the market value of the property. It is very important to keep in mind and follow by the borrower that lender banks always hold in their account some amount of margin money based on the market value of the property pledged for the loan by the borrower. This helps and ensures that the lender banks are always aware and protected against some changes in the real estate market and any kind of cyclical fluctuations in the same real estate industry and drop in prices in the particular area of the property pledged for the loan.

As 99banks online loan portal provides loan services from more than 45+ banks and private lenders. So, the exact list of documents required to get a loan against a property usually varies from one bank to another lender, the following we have given is a short list of some of the key and major documents applicant need to keep handy when applying for a mortgage loan:

Identity proof issued by the government

Address proof that is acceptable by the lender bank

For salaried – last 6 months Salary Slip / Certificate and last 1 year bank account statement either salary account or any savings account.

For self-employed – Form 16, IT returns, last 1 year bank statement of current account, savings account. And certified GST financial statement for the past 3 years.

Relevant original documents of the property that is to be used as collateral or pledge for the mortgage loan against the property.

Passport : the validity of which has not expired, Driving license, Election /Voters identification card, Proof of possession of Aadhaar Number,

Property : Title Deeds or bonds including the previous history of the mortgage required property documents, Proof of no encumbrances (EC up to date) on the property, Approved plan of the property has to be pledged if applicable

The list mentioned above is not exhaustive and may be there will be other documents that specific banks or lenders require in order to grant a mortgage loan against your property.

A Loan against property is a type of secured loan that a borrower or applicant (registered applicant and applying through 99banks online portal) can avail by keeping an immovable asset as a mortgage with the lender banks or private lender. The asset or property can be a residential property or commercial property or other immovable properties like heavy machinery used in any government approved and registered factory.

This loan type is secured on the borrower’s property as per the process done by the lender bank which is called mortgage origination. Such loans are long-term advances with EMI repayment tenures ranging from 18 years (it may vary based on the eligibility of the borrower or applicant) and interest rates much lower compared to unsecured loans. You can utilize the mortgage loan amount to meet diverse funding needs involving higher ticket expenditures.

Applying for a loan against property, or a mortgage loan, is almost broadly matching across all available avenues. One borrower before starting the process of a mortgage loan, you should make sure that it is the right option for you or not. Different lender banks will offer different repayment tenures, different types of interest, and more. Researching and finalizing your options beforehand is very much essential and it gives the best fine option while repaying the amount.

Once you finalize and shortlist the particular banks you can apply to, check their eligibility criteria, documents required, processing and application requirements. If you are eligible and have all the required documents then proceed further through 99banks online loan registration against property or mortgage loan. It usually includes your income, proof of identity, and address, as well as come property-related documents like an encumbrances certificate as of date.

The mortgage loan application applied through 99banks may take anywhere from 3 to 10 days, depending on your eligibility, documents submitted, location, etc.

Loan against property is a reliable and best financial solution for applicant’s who require ample funding. These all come with ample funding, less and nominal interest rates and lengthy tenures (these tenures should be calculated by the applicant and in the way that your regular routine expenses amount should not be affected) to facilitate comfortable repayment. Unlike other secured loans like jewel loan or car loan, mortgage loan have no spending restrictions in a particular way. A borrower can use the loan funds for any financial obligation, medical expense, educational expense or personal expense or buying any asset, etc.

This offering can be applied by both salaried and self-employed individuals or business personal.

• If a new user register and fill the application form or an already registered user just fill the form
  The first step is to fill out the mortgage loan application form in the 99banks user panel. Depending on the lender banks, one may have to do this at a branch. 99 banks Online provisions are generally very very easier and a lot more convenient to carry out and apply.
  Generally, 99banks mortgage loan applicants will have to fill in the following information:

1. Personal details
2. Income information
3. Employment details
4. Loan requirements

• Await mortgage loan processing
  After the applicant submits the application form for a mortgage loan, the lender bank will assess the application and check the eligibility for the loan against the property. Based on the eligibility calculated using your credit score, property value, etc., you will be offered terms or the lender may ask you to add a co-applicant to increase your eligibility.

• Arrange and submit all the required documents
  Upon completing initial loan processing from the online portal user login, an applicant must submit the required documentation which is mentioned in the 99banks user panel. Here is a general list of documents required to process the loan.

1. Property documents
2. KYC
3. Income documents

• Await loan against property verification
  Once all the documents and requirements are submitted by the applicant, lender banks will initiate a technical and legal verification of the same. At this cool period stage, a property evaluation will be conducted based on the area, land value, building value, life, etc., and the lender bank will check the authenticity of the property title. Based on these assessments and verification, the lender will then confirm eligibility and proceed with approval.
  At the final stage of the process, the lender bank will issue a sanction letter and the applicant of the loan will be able to authorize disbursal based on the approved terms either part payment or full payment option. Do note, an applicant will have to submit all the original property documents to the lender bank and these documents will be held until repayment is complete by the borrower.