Loan Against Property Eligibility
Resident Indian individuals (salaried/ self-employed) can apply with IIFL Home Loan for Loan Against Property. Applicants can have close relatives, partnership firms, or even a Private Limited Company as co-applicant to increase maximum loan amount and avail best rate of interest. For cases where income is considered, minimum age at loan inception should be 21 years and 65 years at loan maturity. In cases where income is not considered, minimum age at loan inception should be 18 years.
Given below are the eligibility parameters under each variant
Any Resident Indian Individual (salaried/ self-employed) can apply. The co-applicants can be close relatives, partnership firms, or even a Private Limited Company.
In case where income is considered, minimum age at loan inception is 21 years and loan maturity is 65 years. If income is not considered, minimum age at loan inception is 18 years.
| Product Type | Regular LAP |
|---|---|
| Minimum Loan Amount (non metro) (INR) | 25 lakhs |
| Minimum Loan Amount (metro) (INR) | 35 lakhs |
| Maximum Loan Amount (non metro) (INR) | 10 crore |
| Maximum Loan Amount (metro) (INR) | 10 crore |
| Maximum Tenure (Years) | 10 |