OVERVIEW- Loan against Property

A loan against property, also known as mortgage loan is the fund you can get against your property. If you have a property and you want to make a productive use of it, you can definitely go for this type of loan.

A Loan against Property, comes under the category of Secured loans wherein you keep your property with the lender as a collateral. The lender (Bank or NBFC) then finances you after evaluating the market value of your assets.

So, whether its for financing your child’s education or managing wedding expenses, expanding business or meeting a medical emergency, this product is a great way to raise funds  quickly to meet your needs.

While some lenders offer loan amount equivalent to 70%-80% of the residential property and 60%-70% amount of commercial property, others do vice-versa. 

At Mantra, we will provide you a host of options of lenders where you can avail this product at the best and most affordable interest rates. Compare and then choose.


Here’s all you need to know about Loan against Property:

  • Flexible Loan Tenure: Most lenders offer repayment tenure up to 20 years.
  • Loan Amount: Analyzing the market value of the property, the creditworthiness of the customer, his job profile, his paying capacity and other factors lenders can offer loan amount up to 80% of the property value.
  • Lowest Interest Rate: If you go through Mantra, we can help you get the lowest interest rates and the best deal available in the market.
  • Multipurpose loan: Loan against property can be taken for any of the following purpose:
  • For business expansion
  • Purchase of some assets.
  • Medical contingency.
  • For marriage expense.
  • Funding vacation.
  • For educations.
  • Higher Loan amount with low EMIs.
  • To avail a loan against property, the property to be mortgaged should be owned by the applicant only and if owned jointly, then title holders should join as co-applicant.
  • Various Property Types: Loan against property can be 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.