Loan Against Property

Low interest rates I Loan of up to Rs. 10.50 Crore* I Tenure of up to 15 years

4 reasons to choose our loan against Property

Loan of up to RS. 10.50 crore*

Tenure of up to 15 Years

Low interest rates

Multiple end-use Options

A loan for all your goals






Eligibility criteria and documents required

Anyone can apply for our loan against property as long as they meet the criteria mentioned below.

Eligibility criteria

• Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
• Interest Rate: Ranges from 10.50% – 24.00%: At least 1 year
• CIBIL Score: 700 or higher
• Work status: Salaried/ Self Employed Non-Professionals/Self Employed Professionals.
• Age: 21 years- 60 years for Salaried and 23 years- 65 years for Self Employed
*Higher age limit is applicable at the time of loan maturity.


• Ration Card/Telephone bill/ Electricity Bill/Rental agreement/Passport Copy/Bank Passbook or statement/Driving License
• Pan Card/Passport/Birth Certificate.
• Last 3 years Income tax return. Bank statements for the last 6 months. Business continuity proof.
• Minimum 3-6 months bank statement (of salary account).
• Copy of the Allotment letter/Buyer agreement/Sale deed. Title deeds with all the previous chains of property documents/agreements. Occupancy certificate or CC and approved plan. Latest property tax receipt/Utility bill. Proof of no encumbrances on the property. .

Frequently asked questions

When you keep your property as a collateral to the lender and ask for funds against that property, such type of loan is called a mortgage loan or a loan against property. Since you pledge your asset or mortgage your property as a security, therefore this loan falls under the category of secured loans.

In loan against property, once your loan application comes under process, the lender would evaluate the market value of the property you keep as a collateral. The lender will then provide you loan which will be a certain percentage of your property value. It usually falls between 50%-75%. Some lenders may also offer loans up to 90% of the property value. The funds will be given in advance. You can then use this amount to meet your needs. But you should remember that this amount is repayable, wherein you will have to repay the amount to the lender with interest.

Loan against property is given on different types of property be it commercial or residential. Lenders offer loan on

  • Self occupied residential property.
  • Self occupied commercial property.
  • Leased residential property.
  • Leased commercial property.
  • Lease rental discounting against commercial property.
  • Loan is also given to purchase a commercial property. 

Following factors are taken into consideration while providing a loan against property:

  • Borrower’s Age.
  • The requirement and eligibility of the borrower.
  • Borrower’s Income and repayment capacity.
  • Whether salaried or self-employed.
  • Borrower’s CIBIL score
  • Property’s registration.
  • Property’s market value.

Yes, CIBIL score is an essential factor in determining your creditworthiness. A good credit score makes you reliable in the eyes of the lenders and it will enhance the chances of your loan approval. The minimum CIBIL required is 600 (but this varies as per the lender’s policies).

The interest rates is based on various factors such as cost of funds/capital, loan tenor, credit profile of borrower, net income, employment or business stability, existing monthly obligations, loan type, type and value of security, loan amount etc.

The interest rate starts from somewhere around 6.95%per annum and varies from lenders to lenders. Although the fixed rate of interest changes and varies from banks to banks, the interest rates is always between 8.50% – 12.00% per annum.

The loan repayment tenure is long which usually extends up to 15 years, but some lenders offer repayment tenure up to 20 years.

If everything falls in place, it will just take 7-10 business days. Some lenders may do the disbursement earlier than this period, depending upon fulfilling their criteria and their policies.

But delay in loan disbursal are often caused due to borrower’s inability to provide documents required by the lenders.

While not paying EMIs in the initial years will lead to penalty, continuance of irregular payment of EMIs will lead to severe consequences. Interest rates will start piling up, credit score rating will get reduced, finally it will lead to stringent action by the lenders that is seizure of property mortgaged.

At Mantra we will provide you a whole range of options of lenders to choose from regarding your loan against property requirement.

We can help you get the best deals in terms of loan amount at affordable interest rate, tenor suiting your repayment capacity, and amount that fulfills your needs.