Loan Against Property

You will need to repay the loan in Equated Monthly Instalments (EMI). The amount can be paid through CTS compliant Post Dated Cheques (PDC) or the Electronic Clearance System (ECS). For more information on EMIs and loan repayment options, get in touch with our in-house team.

The security for the loan will be the first mortgage of the property to be financed - generally by way of deposit of Title Deeds and/ or such other collateral security. The title to the property has to be clear, marketable, and free from encumbrance. In other words, there should not be any existing mortgage, loan, or litigation, which is likely to affect the title to the property adversely.

The loan amount will be disbursed directly to your operating bank account - post approval from the company. The approval process includes a verification procedure for the loan agreement and other legal formalities. The loan amount is disbursed after the property has been technically and legally appraised.

The LAP can be availed for a maximum tenure of 15 years. You can take up the loan until a maximum age of 65 years (at the maturity of the loan). You can repay your loan amount at any time during the tenure.

Note: Loans are at the sole discretion of Fullerton India and are subject to guidelines of the Reserve Bank of India. Fullerton India may engage the services of marketing agents for sourcing loan assets in certain locations.

The loan against property eligibility is usually calculated on the basis of the repayment capacity of the borrower. The repayment capacity will be ascertained based on factors such as your income, age, qualifications, spouse's income, and others. It is recommended that you speak with a customer service representative via phone and email or at the nearest branch to know more.

Loan against property is available to:

1. Salaried residents of India between the ages 21 years and 60 years
2. Self-employed residents of India between the ages 25 years and 65 years
3. All Indian SMEs
4. The applicant must own residential or commercial property.

You may visit our loan against property eligibility page for more details.

Loan to value ratio, or LTV in short, is the key factor in determining the maximum loan that you can raise against your pledged property. Higher the LTV offered by the financial institution, greater the approved loan amount. For example, if the LTV ratio offered by the financial institution is 60% and the current value of your pledged property is estimated to be of INR 60 lakhs, then depending on the lender’s evaluation of your property, you can get a maximum of 60% of your property’s value, that is INR 36 lakhs as the loan amount. The LTV ratios offered in a loan against property is subject to change as per each lender’s policy and might have some further terms and conditions.

The loan against property that you can get depends on the LTV ratio offered by the financial institution. At Fullerton India, we offer up to 70% of the pledged property’s value in case of a mortgaged residential property and up to 60% in case of a mortgaged commercial property. . We offer mortgage loans upto a maximum of INR 12.5 Crores*. To know the exact value of the loan amount that you can raise out of your property, please contact us.

If you have an uninsured property, and would like to avail a loan against property with Fullerton India, you can apply online or contact us. Our representative will get in touch with you for a detailed discussion. However, it is a good practice to get your property insured before you can pledge it as collateral in a loan against property loan scheme. The insurance policy would cover for any damages that may happen to the pledged property and will be valid throughout the loan tenure.

You do not get any tax deduction for a loan against property. Also, GST will be charged as applicable on your loan against property as per the regulations. To know more, please visit our policies page.

At the moment, we offer loans only against residential or commercial properties but not plots.