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LOAN AGAINST PROPERTY

A sudden requirement of funds is an unavoidable circumstance arising in professional or personal life. Whether a personal necessity (hospitalisation, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.

In this context, it is imperative to consider an invaluable source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinising the validity of the said property and its current market value.


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​​Is the Loan Against Property (LAP) facility for you?

If you are in immediate need of money for personal or business needs, LAP can transpire into an excellent financial decision. All the rights and accruements over the mortgaged property remain with you during the loan period. You can also take a property loan on the assets whose ownership is in your name but are leased out by you.

Simply for infusion into Business, or for a home restoration project or the purchase of a new commercial premises the LAP facility is a worthy financial product to explore.

​​Why Loan Against Property (LAP)?

We offer this facility is to enable the borrower to monetize his owned property without selling it. The necessary funds are raised in a short period of time, subject to valuation of the property and the submitted documents. The loan helps the borrower tide over a financial crisis with minimum risk.

Features of Loan Against Property

  • Collateral: Residential, Commercial, Industrial and Warehouse property
  • Tenure: Up to 15 years
  • Maximum loan amount: Up to Rs 75 crore
  • Attractive loan against property interest rates
  • No pre-payment charges upto a maximum of 25% of your outstanding loan,every financial year
  • Loan amount: Up to 60% of property value in case of commercial property, up to 70% in case of residential property

Please ask us for the required set of documents at the time of inquiry to know your loan against property eligibility.

STANDARD SCHEDULE OF CHARGES

The following standard schedule of charges that are applicable on your loan are mentioned in the table below.

It is subject to change from time to time on discretion of ABFL. Any GST as applicable on the Charges as per below schedule shall be payable by the Borrower.
Transaction Charges
Fore-Closure Charges: Standard: 4% of prevailing principal outstanding amount plus amount of principal part paid during preceding 12 months. Applicable GST/Govt. Taxes extra. For the subject loan application: Please refer page no. 1 and/or 2 of this sanction letter. Any foreclosure charge offered less than standard charges will be applicable only in case of NIL bounce in applicants’ any of the loans with ABFL during the currency of the loan granted vide this sanction letter; Standard charge mentioned here will be applicable otherwise.
Part Prepayment Charges Standard: 25% of the principal outstanding as on 1st April of the given financial year will be allowed to be part paid without any charges. 4% + GST/Govt. Taxes will be applicable on part payment in excess of 25% in given financial year. For the given application: Please refer page no. 1 and/or 2 of this sanction letter. Any part prepayment charge offered less than standard charges will be applicable only in case of NIL bounce in applicants’ any of the loans with ABFL during the currency of the loan granted vide this sanction letter; Standard charge mentioned here will be applicable otherwise.
All Individual loans (where all applicants and co-applicants on the loan structure are individuals only, i.e no entity is on loan structure) No foreclosure charges applicable
Other Charges: Default Penal Interest Rate / Non Conformance with any covenants / stipulated conditions (at the sole discretion of ABFL) 24% p.a. i.e. 2% per month
Cheque Return Charges/ECS/SI/NACH failure charges Rs 1000/- per instance
Accrued Interest As applicable based on actual delayed status or as communicated by the lender from time to time
Cancellation Charges if any 4.00% of loan amount sanctioned
Closure charges for OD/LOC (Standard charges) 4% of prevailing limit at the time of closure
Request for copies of documents of any collateral held with ABFL per instance Rs 2500/- per instance
Duplicate Statement/ Repayment Schedule / FC statement / any other document held with ABFL request FC Statement: Rs. 1500/- per instance
RTR: Rs 1000/- per instance
Other statements: Rs. 200/- per instance
GST extra as applicable
Charge For Exchanging PDCs, Security Cheques (Per Set) / ECS /NACH Rs 1000/- per instance
CIBIL/Credit report retrieval fee Rs 50/- per instance for Consumer and Rs. 500/- for Commercial CIBIL/Credit report
Loan Re-schedulement (on request from applicants, approval to be at sole discretion of ABFL) charges per instance 2% of the prevailing loan outstanding
NOC issuance charges per instance Rs 1000 + GST
Swap/Conversion Charges (Fixed rate to floating and vice-versa, at sole discretion of ABFL) (on request from applicants, approval to be at sole discretion of ABFL) per instance 3% of the prevailing loan outstanding
Property swap charges (on request from applicants, approval to be at sole discretion of ABFL) 3% of the prevailing loan outstanding
  • Stamp Duty
  • Legal and other statutory charges
  • Insurance Premium
  • Creation charge with ROC
As per actual, where applicable

Next steps...

Do you want complete product details? Download the brochure.

If you want to apply for Loan Against Property, download the application form.

Do you have questions?

Call 1800 270 7000 or write us at care.finance@adityabirlacapital.com. ​

Toll free (Within India):

1-800-270-7000

Email on:

care.finance@adityabirlacapital.com

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