• Loan amount range: 10 Lakhs to 5 Crores
• Minimum age of the Loan Against Property applicant should be 25 years
• The maximum age of the borrower can be their retirement age or 65 years
• Both salaried and self-employed persons are eligible for the Loan Against Property
• The maximum tenure of the loan is 15 years
• The maximum amount of loan is 70% of the value of the property
• The LAP has a ceiling of 5 Crores

• Salaried and self-employed individuals with a regular source of income are eligible
• The maximum loan amount is 60% to 65% of the market value of the property
• Loans available against both residential and commercial property
• Rented properties are also acceptable as collateral
• Loans available as Term loans or Dropline Overdraft
• The maximum term is 15 years

• Salaried Individuals

a) In permanent service in Government department or a reputed company

b) Should be above 24 years when applying for the loan

c) The maximum age can be the age of superannuation

• Self-employed individuals – Non-professionals

a) Should file Income Tax returns

b) The minimum age is 24 years at the time of application, whereas the maximum is 65 years at the maturity of the loan.

• Self-employed individuals – Professionals

a) Professionals include doctors, Chartered accountants, architects, and so on

b) Other eligibility norms are the same as that of self-employed non-professionals

Amount eligibility norms

• 5 Lakhs
• The maximum amount is 5 Crores
• Margin: 40% to 55% of the value of the property, residential or commercial

Axis Bank also offers a Lease Rental Discounting facility

• Funding is against commercial property alone
• The loan amount is the lower of

a) 85% of the present value of future rentals

b) 50% of the property value

• Individuals and non-individuals are eligible for a Loan Against Property
• Individuals can be salaried or self-employed persons
• Non-individuals include proprietorships, partnership concerns, LLPs, private limited companies, and limited companies

• Employees of Central and State Government, schools, colleges, PSUs, and reputed corporates, and IT assesses are eligible for a Loan Against Property for meeting personal requirements.
• Business entities maintaining a satisfactory track record of a minimum of three years (net profit in the immediately preceding year and cash profits during the last three years)
• Salaried persons: Minimum net income of 25,000
• Self-employed individuals: Minimum annual income of 3 Lakhs
• Business enterprises: Net profit of 3 Lakhs and above
• Quantum of loan

a) Personal needs: 1 Lakh to 25 Lakhs

b) Business requirements: 5 Lakhs to 5 Crores

Assessment of limit – to determine the eligibility of the loan amount

Lowest of the following parameters:

• 75% of the realisable value of the property
• Maximum of three times of Annual Gross Income/Gross Profit in the case of term loan
• Maximum of four times of Annual Gross Income/Gross profit in the case of overdraft

The limit also depends on the maximum permissible deduction:

• Maximum loan up to 60% of the value of the property subject to a ceiling of 8 Crores
• Loans available against lease rent receivables
• Salaried and self-employed persons are eligible for a Loan Against Property
• Property can be residential or commercial