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Loan Against Property for Salaried – Updated Guide for 2025
It is a secured loan where the property is pledged to borrow the amount from the bank. The loan can be availed against property owned by the borrower for residential, commercial or the industrial purposes. In comparison to personal loans, loan against property for Salaried is a better option for salaried income individual who wants to meet any personal requirements with a bigger amount. Such a loan enables more repayment time along with lesser interest rates. Loan is provided by the banks which is usually 50%-80% of market value of the property mortgaged.
Why should one opt for Loan against property for Salaried?
Both personal loan and loan against property for Salaried are good options for the borrower coming from a salaried background. Loan against property for Salaried offers wider benefits to the customers.
The leading banks including the traditional lenders offer the loan against property for Salaried making it conveniently available. Loan against property for Salaried has better tenures and a larger amount is sanctioned against property in comparison to personal loans. Also, interest rates are much lower to personal loans and hence lower EMI. Hence, this makes it a suitable option for a salaried person to utilize their salary to the maximum potential.
Why Should I Go with LoansJagat?
We take pride in having the expertise to cater to the requirement seamlessly since our inception in the year 2002. Our dedicated loan expert provide you with an excellent customer experience. Our efforts have been recognized by various institutions and we have an association with 40 banks and NBFCs which gives customers multiple loan options to choose from. We are a process oriented and digitised company safeguarding the interests of customers and their confidential personal data.
Going to take Loan against Property for Salaried. Refrain from making these Mistakes!
Loan against property for Salaried is one of the most popular products offered by the banks. It is a secured loan and one should be clear about the details of the product before taking it.
Let us take an example of Raghu, he earns Rs.60 thousand every month. He needs Rs.15 lakh to meet his expenses for future investments or emergency. Given his income level he should be careful about the following:
Property Being Pledged - Clear Valuation papers of the property should be in place. Along with the knowledge that not the entire amount basis valuation can be expected as a loan from the bank. Hence, it's better to have loan amount lesser than the property amount.
Rates - Personal loan interest rates are more than loan against property for Salaried. In case the bank is charging you more or equivalent to personal loan rates then it's better to check with other financial institution.
Ownership - In case property has co-owners, better to have their documents in place as well along with their consent without which documentation can be on hold.
Custody - Be very clear to read the terms and conditions like ownership and charges in case of late payments or inability to repay back the loan. The borrower has the right to utilize the pledged property, but the bank has the right to take it when one defaults.
Be Clear from all Aspects before it is too Late and use LoansJagat to compare the best loan against property for salaried!
Features & Benefits
Eligibility
Who can apply:
- Minimum ₹ 25000 monthly income in metro cities and ₹ 20,000 in other cities
- Salaried individual
- A credit score above 650
- Total work experience of atleast 1 year
Age:
- Above 23 years and below 58 years
Required Documents
Identity Proof
- Passport
- Voter ID
- Driving License
- Aadhar Card (Mandatory)
- Pan card (Mandatory)
Any of the following
Address Proof
- Passport
- Utility Bill
- Aadhar Card
- Driving License
Any of the following
Other Docs
Mandatory
- Salary Slips ( Last 3 months)
- Salary A/c Bank statement ( Last 3 months)
Calculator
Calculate your Loan EMI in 3 easy steps. Use the slider to set your loan amount, interest rate and tenure to understand your loan summary
Loan Summary
Loan Amount
₹ 100,000
Interest Payable
₹ 17,397
Monthly EMI
₹ 1,957
How to Apply
LoansJagat is a platform to offer loan against property for salaried quickly and efficiently without having a difficult application process. Our aim is to offer a hassle-free process so that no one has to wait for their dream to become a possibility. Apply for a loan right away!
- Scroll Up. Fill in the basic details about your name, number, and work profile.
- Fill in your personal details. For example, your email, company name, and DOB.
- Mention your credit score, PAN number, and salary-related information.
- Compare the offers from 20+ banks and NBFCs before applying for loans.
- Organise all the documents, like the Aadhaar Card, PAN Card, residential proof, KYC details, and past 3 months' bank account statement. Submit these documents when needed.
- After successful document verification, your loan will be approved and money will be credited to your bank account.
Tips to Avoid Loan Rejection
The following guidelines assist in improving the chances of loan approval to avoid the possibility of rejection of loan against property for salaried.
1. CIBIL Score Above 650
You have a high chance of loan approval if your CIBIL score is more than 650. So, try to increase your credit score to match this number. You have a high chance of loan approval if your CIBIL score is more than 650. So, try to increase your credit score to match this number.
2. Lower Debt-To-Income Ratio
If you majorly depend on your credit card, even after spending your monthly income, then the chances of loan approval are low.
3. Clear Existing Debts
Try to stay clear of all the outstanding debt. If you repay your loans timely, then banks will prefer to lend more loans to you.
4. Provide Verified Information
Don’t lie about your information over the tele-verification process. If found not true with supporting documents, the chances of rejection increase.
5. Stable Employment
Try to have a stable job for at least 1 year before applying for a loan. This will help you have more chances of loan application approval.
6. Credit Report of Last 6 Months
When you are planning to apply for a loan, make sure that your credit history of the last 6 months is up to the mark.
7. Timely EMI Repayments
If you pay your loan EMI on the due date/month. Then your credit score will boost instantly. This will guarantee instant loan approval.
8. Don’t Engage in Paid Fantasy Gaming Apps
Avoid getting addicted to betting on paid fantasy gaming apps like Dream 11, Ludo, Poker, etc. Remember, there is no shortcut to long-term wealth.
9. Clean Salary Bank Account Statement
Do not engage in external transactions on major stockbroking platforms. Try to keep a clean transaction history of your salary bank account.
10. Average Bank Balance
Investing in derivative products like Future and Options (F&O) trading is a very risky scenario if you are planning to avoid loan rejection.
11. Multiple F&O Transactions in the Stock Market
If you can retain 25% of your monthly income as savings in your bank account, then banks will prefer to approve your loan application.