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Frequently Asked Questions

How is loan against property eligibility criteria decided?

Your LAP eligibility depends on your current and future prospects, both financially as well as physically. Lenders tend to issue loans to those who are most likely to repay them successfully.

How do they assess this?

Your credit score, previous debts, income proof, and work record: all of these are helpful documents deemed necessary during the loan assessment.

How much LAP amount am I eligible for?

While the amount depends on the bank you apply with, Kotak Mahindra Bank gives up to 80% of your property’s market value as a loan.

How to improve eligibility for a loan against property?

For improving eligibility, you can improve your credit score as those with a CIBIL score of 750 and above receive cheaper loans with longer durations. 

You could also try supplementing your income and applying for more stable and lucratively paying jobs to improve the chances of obtaining a loan.

How much LAP loan amount am I eligible for based on my salary?

 The market standard is a loan amount that is well within 50-60 times your salary.

Loan Against Property

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