Insta Loan Services

Insta Loan Services is your one-stop destination to search for the best Home Loans, Personal Loans and Credit Cards in India.
Insta Loan Services is your one-stop destination to search for the best Home Loans, Personal Loans and Credit Cards in India.
Insta Loan Services

Loan Against Property

A mortgage or secured loan obtained by offering a property as collateral is known as a Insta Loan Services against property or LAP. The interest rate ranges from 7.25% to 8.00%. You can borrow up to 70% of the value of your home for a maximum of 15 years with a LAP.


Loan Against Property

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Affordable EMI plans

A loan against property has an interest rate that starts at (Add accordingly) percent per annum. You get a big loan amount with lower EMIs. Unlike personal loans, property loans are less expensive and provide greater repayment flexibility and the option of a longer payback term

Easy approval & sanction:-​

The loan against property is a secured loan with simple eligibility requirements.

Flexible tenure & EMI:-

A loan against property provides you with the most liquidity for your property. (Financing is available for up to 15 years.) You can get a cheaper EMI and easier repayment by choosing a long-term property loan.

Query Related to Loan Against Property:-

Each lender has its own set of eligibility requirements for taking out a loan. The following are some of the common requirements for obtaining a mortgage loan:

  • Profession:- A Loan Against Property is available to self-employed and salaried individuals with a consistent source of income.
  • Age:- Minimum age to be eligible for a property loan is 21, and the maximum age is 65.
  • Joint applications:- Co-applicants are allowed. Lenders may consider the income of co-applicants when determining eligibility.
  • Margin:- The margin needed for a Loan Against Property might range from 10% to 50% of the property’s market value.
  • Ownership:- 
  • The applicant should be the owner of the freehold property. It could be a residential, commercial, or industrial property.
  • Agricultural land is not eligible as loan collateral.
  • Many lenders need the property to be either unoccupied or self-occupied.
  • Some banks will not consider a property that is rented or leased to a third party.
  • Vacant residential plots are used as collateral by some lending organizations.
  • Current Obligations:- The take-home income standards are implemented. After accounting for all EMIs, including the proposed one for the loan against property, one should have a take-home pay of 50%. As a result, borrowers must disclose their present commitments.
  • Credit History:- CIBIL (Credit Information Bureau (India) Limited) members are lending banks. They can access your CIBIL information to determine your credit score. A credit score of 600 or higher is usually considered adequate.
  • Explain your earnings to the lender.
  • Maintain a good savings account balance on a monthly basis.
  • Choose a loan-to-value ratio that is lower (LTV).
  • Peer-to-peer lending is another option to examine.
  • Apply with a co-applicant.

Document Type

Documents Acceptable

Identity Proof

  • Voter ID Card
  • Aadhar Card
  • PAN Card
  • Passport
  • Driving License

Address Proof

  • Lease Agreement
  • Aadhar Card
  • Registered Rent Agreement
  • Driving License
  • Passport
  • Latest Gas/Electricity Bill

Financial/Income Documents

  • For salaried employees, payslips for the last six months are required.
  • IT returns for self-employed people over the last three years.
  • A statement of your account for the previous year showing where your salary has been credited (in the case of salaried people).
  • In the case of self-employed people, a profit and loss statement and a balance sheet for the last two years are required.
  • If applicable, sales tax and GST registration certificates.
  • In the case of partnership firms, the partnership deed is required (if the applicant is one of the firm’s partners).
  • Limited-Liability Company Certificate of Incorporation is required (if the applicant is one of the directors of the company itself).

Property Documents

  • Copies of any property records dating back 30 years that can prove the line of ownership.
  • Certificate of encumbrance for 30 years.
  • Receipt for property taxes paid.

Other Documents

  • Application form of a loan.
  • Processing fee cheque.

You can apply for a mortgage loan through Instaloanservices via our website, nearest branch, or by calling our customer service experts.

  • Fill out the application form and attach the relevant documents to it.
  • Lenders will double-check all of the information.
  • The lender will assess the property that will be mortgaged.
  • If you are eligible, your application will be approved after examination and eligibility verification.