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Eligibility For Loan Against Property - Check Eligibility For Loan Against Property

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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