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Property Mortgage Loan

Property Mortgage Loan

Eligibility Criteria for Property Mortgage Loan:

  • Individuals who are resident of India.
  • NRIs holding an Indian passport.
  • Minimum age Limit: 21 years.
  • Income:

    Resident Indian:

    • Salaried Persons: Minimum gross monthly salary ₹10,000/-
    • Others: Minimum Annual gross income ₹1,20,000/-


    • Salaried Person: Minimum gross monthly salary ₹1 lakh.
    • Others: Minimum Annual gross income of ₹12 lakh.

Purpose of Property Mortgage Loan:

  • For meeting business/professional needs, House repair, House renovation, development of property and also for consumption purpose.
  • In case of NRIs, the purpose should be as permitted under FEMA guidelines.

Amount of Finance:

  • Three times of the average annual income of last two years/36 times of the latest take home salary/50% of the market value of the property.
  • Subjected to a minimum of ₹10 lakh and maximum of ₹500 lakh.

Maximum period of Loan:

  • Up to 120 months.

Security for Property Mortgage Loan:

  • Mortgage of properties.
  • Guarantee of the spouse wherever feasible in the absence of which third party solvent guarantor

Repayment of Property Loan:

  • General: In equal / equated monthly installments (EMIs).
  • Agriculturist: Yearly basis including yearly interest.

Margin of Property Loan:

  • Up to 67%

Rate of Interest for Loan Against Property:

The above information is subject to terms and conditions.For more details, please contact the nearest Branch