To qualify for the secured Loan Against Property (LAP), lenders assess your age, income, credit profile, property value, and repayment capacity. The minimum age of application for Loan against Property (LAP) is typically 21, and the maximum age at loan maturity is 70. You must be an Indian citizen (resident, NRI, or PIO may be approved depending on the lender). However, the actual criteria vary by bank or NBFC.
What are the Eligibility Requirements for LAP?
A Loan Against Property allows you to borrow funds for education or other emergencies by mortgaging your residential or commercial property as collateral. Some lenders allow up to 60 years to 70 years for salaried and 70 years to 80+ years for self-employed applicants at the time of loan maturity.
Eligibility also requires proof of a regular and stable income:
Salaried individuals should have consistent employment and salary slips/ITR.
Self-employed professionals or business owners must show business continuity (usually 2 to 3+ years) with audited financials or tax returns.
Banks look for a strong repayment capacity relative to your existing EMIs and obligations.
A good credit history and CIBIL score (often 650 to 700 or above) improves your chances of approval and favourable interest rates, though minimum score requirements vary by lender and loan amount.
You must own clear-title residential or commercial property that can be mortgaged.
Banks can also assess your debt-to-income ratio to ensure you can comfortably repay EMIs after accounting for living expenses and other obligations. A higher repayment capacity may result in a higher sanctioned loan amount.
Lenders typically offer loans up to 60% to 75% of the property’s market value, depending on property type and valuation. The property should be free from legal disputes and encumbrances. I hope you understood what is eligibility for loan against property.
Get Upto 10 Lakhs in Your Account Instantly through NB InstaCash.
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
What is Eligibility for Loan Against Property?
sia
7 Views
1
0 days
2025-12-30T19:15:02+00:00 2025-12-30T19:15:04+00:00Comment
Share