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About SIMFINN Loan Against Property / Equity Loan

SIMFINN’s Loan Against Property (LAP), also known as an Equity Loan, provides individuals and businesses with a unique opportunity to unlock the value of their property to access funds for various purposes. Whether you’re looking to finance a personal project, expand your business, or cover unforeseen expenses, a loan against property gives you access to a higher loan amount by using your residential, commercial, or industrial property as collateral. With competitive interest rates, flexible repayment terms, and a hassle-free process, SIMFINN makes it easier to convert your property’s equity into cash when needed.

Our Loan Against Property is ideal for those who own property but need funds for medical expenses, education, home renovations, or working capital for a business. Unlike personal loans, which come with lower borrowing limits, a loan against property offers larger loan amounts based on the property’s value. Additionally, SIMFINN provides customized solutions, offering both short-term and long-term repayment plans. With minimal documentation, fast approval, and no prepayment penalties, SIMFINN ensures a seamless experience for all applicants seeking to leverage their property’s equity.

Features & Benefits of Loan Against Property / Equity Loan

High Loan Amount

Borrow a significant loan amount, typically ranging from 60% to 80% of the property’s market value, depending on the property type and applicant's eligibility.

Low Interest Rates

Enjoy competitive interest rates, which are generally lower than unsecured loans, making it a more affordable option for accessing funds.

Long Repayment Tenure

Choose a flexible repayment period ranging from 5 to 15 years, allowing for manageable monthly EMIs based on your financial comfort.

Quick Approval & Disbursal

SIMFINN ensures a fast approval process with minimal documentation, and once approved, funds are disbursed quickly, often within a few days.

No End-Use Restrictions

Use the loan amount for various purposes such as business expansion, home renovations, education, medical expenses, or debt consolidation, with no specific end-use restrictions.

Retain Ownership of Property

You can continue to own and live in the property while it serves as collateral, making it a practical way to access funds without selling or parting with your property.

Loan Against Property / Equity Loan Eligibility Criteria

Age Requirement

The applicant must be between 23 and 65 years old at the time of loan application to ensure a reasonable repayment period and financial stability.

Property Ownership

The property offered as collateral must be legally owned by the applicant, and it can be residential, commercial, or industrial property.

Minimum Income Requirement

The applicant must have a stable income (salaried or self-employed) with a minimum monthly income of ₹25,000 (for salaried individuals) or a consistent annual income for self-employed individuals to demonstrate repayment capacity.

Credit Score

A CIBIL score of 650 or above is required for better approval chances and to qualify for favorable interest rates. A strong credit history helps improve eligibility.

Property Value

The value of the property being offered as collateral must be sufficient to cover the loan amount, typically 60% to 80% of the market value of the property, depending on the property type and location.

Business Stability

For self-employed individuals, the business should be operational for at least 2–3 years, with stable financial performance, ensuring the ability to repay the loan.

Loan EMI: 0 INR

Total Interest: 0 INR

Total Payment: 0 INR

Our Clients

Our home loan clients trust us to provide tailored financial solutions that make homeownership more accessible and affordable. With competitive interest rates, flexible repayment options, and a seamless application process, we help individuals and families achieve their dream of owning a home. Our commitment to customer satisfaction ensures personalized service and expert guidance at every step.

98%

Satisfied Customers

84%

Home Loans Disbursed

88%

Loan Approval Rate

Documents Required For Loan Against Property / Equity Loan

  • Aadhaar Card
  • PAN Card
  • Voter ID
  • Passport
  • Driving License
  • Title deed of the property
  • Sale deed or Gift deed (to prove ownership)
  • Property tax receipts or Municipal Corporation receipts
  • Encumbrance Certificate (EC) showing that the property is free from any legal disputes
  • Property Valuation Report from a certified evaluator

For Salaried Individuals:

  • Last 3 months’ salary slips
  • Latest Form 16 or Income Tax Return (ITR)
  • Last 6 months’ bank statements showing salary credits

 

For Self-Employed Individuals:

  • Profit & Loss Statement and Balance Sheet for the last 2–3 years (audited if applicable)
  • Income Tax Returns (ITR) for the last 2–3 years
  • Last 6–12 months’ bank statements
  • GST Registration Certificate, Trade License, or Partnership Deed
  • Certificate of Incorporation (for companies)
Duly filled and signed SIMFINN Loan Against Property application form

Take Next Step & Manage Your Immediate Financial Needs Now. Turn Your Dream Business into Reality with SIMFINN!
Affordable Loan Against Property / Equity Loan with Easy Approvals & Flexible EMIs

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FAQs About Loan Against Property / Equity Loan

A Loan Against Property (LAP) is a type of secured loan where you pledge your property (residential, commercial, or industrial) as collateral to get a loan amount based on the property's value. It provides access to higher loan amounts with lower interest rates compared to unsecured loans.
The loan amount you can borrow is typically up to 60% to 80% of the market value of the property you pledge, depending on the property type, location, and your financial profile.
After loan approval, the disbursal can be made as a lump sum or in installments, depending on the type of loan and your needs. The funds are transferred directly to your account or used for specific purposes like business expansion or property renovation.
The repayment tenure for LAP can range from 5 years to 15 years, providing you with flexible repayment options. The tenure will depend on your eligibility, loan amount, and repayment capacity.
Yes, the property you offer as collateral must be fully owned by you, and you must provide clear title documents to prove ownership. If the property is mortgaged, you can only apply if the existing mortgage is cleared or refinanced.
Yes, you can prepay your Loan Against Property without any penalty, though some lenders may charge a prepayment fee or foreclosure charges if the loan is paid off early. It’s advisable to check the loan agreement for specific terms related to prepayment.