Eligibility For Loan Against Property - Loan Against Property
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The very first thing that you need to know before taking a loan against property is whether you are eligible for it. After all, if you are not eligible, or do not fulfill the eligibility criteria, you don’t get the loan.
There is another reason why you should be sure you have the eligibility before applying for not just this loan, but for any loan. Let’s say that you do apply, and if the bank determines that you don’t fulfill the criteria, your application is rejected. Additionally, your credit score takes a hit. That is not something you want to happen.
So what is the eligibility for loan against property? Let’s find out.
|
Age of the Applicant |
18 to 70 years |
|
Eligible Salary |
₹ 25,000 per month and above |
|
Work Experience for Salaried |
3 years and above |
|
Loan Against Property Rates |
7.90% |
|
Business Stability for Self Employed |
5 years and above |
|
Minimum CIBIL Score |
650 |
|
Loan Amount as percent of Property Value |
Up to 75% |
|
Co-applicants to increase eligibility |
Family members, business firms, companies owned by applicants may be added |
|
Eligible property |
Self occupied/ rented/ vacant residential, commercial and industrial properties |
These are the general eligibility factors.
But what are the criteria of the various banks? We’ll see that next too!
|
Bank |
Loan Amount Eligibility For Max Tenure |
Age Of Eligible Borrower |
Maximum Loan On Property Value |
|
SBI Loan Against Property Eligibility |
₹ 7.50 Cr for 15 years |
18 to 70 years |
Upto 65% |
|
HDFC Loan Against Property Eligibility |
₹ 5 Cr for 15 years |
24 to 60 years |
Upto 50% |
|
ICICI Bank Loan Against Property Eligibility |
₹ 7 Cr for 15 years |
21 to 60 years |
Upto 60% |
|
Axis Bank Loan Against Property Eligibility |
₹ 7 Cr for 15 years |
24 to 60 years |
Upto 60% |
|
Citibank Loan Against Property Eligibility |
₹ 5 Cr for 15 years |
23 to 60 years |
Upto 70% |
|
Indiabulls |
₹ 3 Cr for 10 years |
23 to 65 years |
Upto 65% |
|
PNB Housing Finance |
₹ 5 Cr for 20 years |
21 to 60 years |
Upto 60% |
|
Standard Chartered Bank |
₹ 5 Cr for 15 years |
21 to 60 years |
Upto 70% |
|
DBS Bank |
₹ 3 Cr for 10 years |
21 to 60 years |
Upto 65% |
|
LIC Housing Finance |
₹ 5 Cr for 15 years |
21 to 60 years |
Upto 70% |
|
PNB |
₹ 5 Cr for 10 years |
21 to 60 years |
Upto 50% |
|
Indian Overseas Bank |
₹ 1 Cr for 7 years |
21 to 60 years |
Upto 50% |
|
Karnataka Bank |
₹ 1 Cr for 15 years |
21 to 60 years |
Upto 50% |
|
Edelweiss |
₹ 5 Cr for 15 years |
21 to 60 years |
Upto 60% |
|
Bank of India |
₹ 5 Cr for 12 years |
21 to 60 years |
Upto 40% |
|
IDFC First Bank |
₹ 5 Cr for 15 years |
21 to 60 years |
Upto 60% |
|
United Bank of India |
₹ 5 Cr for 7 years |
21 to 60 years |
Upto 60% |
|
OBC |
₹ 10 Cr for 10 years |
21 to 60 years |
Upto 60% |
|
Indian Bank |
₹ 2 Cr for 7 years |
18 to 60 years |
Upto 50% |
|
Corporation Bank |
₹ 5 Cr for 10 years |
18 to 65 years |
Upto 50% |
|
Syndicate Bank |
₹ 5 Cr for 10 years |
21 to 60 years |
Upto 60% |
|
Karur Vysya Bank |
₹ 5 Cr for 9 years |
21 to 60 years |
Upto 40% |
|
Federal Bank |
₹ 5 Cr for 10 years |
21 to 60 years |
Upto 50% |
|
Canara Bank |
₹ 10 Cr for 7 years |
21 to 60 years |
Upto 50% |
|
Piramal Housing Finance |
₹ 5 Cr for 20 years |
23 to 60 years |
Upto 75% |
|
RBL Bank |
₹ 10 Cr for 15 years |
23 to 60 years |
Upto 65% |
|
Punjab and Sind Bank |
₹ 5 Cr for 12 years |
21 to 60 years |
Upto 50% |
|
IndusInd Bank |
₹ 5 Cr for 15 years |
21 to 60 years |
Upto 65% |
|
Allahabad Bank |
₹ 2 Cr for 9 years |
21 to 70 years |
Upto 50% |
|
Yes Bank |
₹ 5 Cr for 15 years |
21 to 60 years |
Upto 70% |
|
UCO Bank |
₹ 5 Cr for 12 years |
21 to 60 years |
Upto 50% |
|
Kotak Bank |
₹ 3 Cr for 12 years |
21 to 65 years |
Upto 55% |
|
HSBC Bank |
₹ 10 Cr for 15 years |
21 to 58 years |
Upto 65% |
|
Central Bank of India |
₹ 10 Cr for 10 years |
21 to 60 years |
Upto 50% |
|
Cholamandalam |
₹ 5 Cr for 15 years |
21 to 65 years |
Upto 70% |
|
HDFC Bank |
₹ 5 Cr for 15 years |
21 to 60 years |
Upto 65% |
|
DCB Bank |
₹ 10 Cr for 15 years |
21 to 60 years |
Upto 70% |
|
South Indian Bank |
₹ 15 Cr for 12 years |
21 to 60 years |
Upto 70% |
|
Jammu And Kashmir Bank |
₹ 1 Cr for 7 years |
21 to 60 years |
Upto 60% |
|
Dhan Laxmi Bank |
₹ 5 Cr for 15 years |
21 to 60 years |
Upto 65% |
|
Andhra Bank |
₹ 2 Cr for 10 years |
21 to 65 years |
Upto 50% |
|
Bajaj Finserv |
₹ 4 Cr for 20 years |
33 to 58 years |
Upto 75% |
|
Union Bank of India |
₹ 10 Cr for 12 years |
18 to 60 years |
Upto 50% |
|
Lakshmi Vilas Bank |
₹ 5 Cr for 10 years |
21 to 60 years |
Upto 60% |
|
IDBI Bank |
₹ 10 Cr for 15 years |
22 to 60 years |
Upto 65% |
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