Loan Against Property -

Unlock the Value of Your Property

Need large funds for personal or business needs? Mitra Loans offers loans against property, allowing you to leverage the value of your property to get high-value loans with lower interest rates and longer tenures.

Loan Against Property

A Loan Against Property (LAP) is a secured loan where you pledge your residential, commercial, or industrial property as collateral to borrow funds. This type of loan is versatile and can be used for various purposes, including business expansion, education, medical expenses, or debt consolidation. The loan amount is determined based on the value of the property, and it typically offers lower interest rates compared to unsecured loans.
Mitra Loans offers Loan Against Property solutions with attractive interest rates, flexible repayment terms, and quick processing to help you unlock the value of your property and meet your financial goals.

Find Your Related Loan

Residential Property LAP

o Purpose: Leverage your self-occupied or rented residential property to secure a loan. o Features: High loan amounts up to 60-70% of the property's market value. o Benefits: Lower interest rates and longer repayment tenures make it an affordable financing option.

Commercial Property LAP

Industrial Property LAP

o Purpose: Secure a loan against your industrial property, such as a factory or manufacturing unit. o Features: Financing up to 40-50% of the industrial property's market value. o Benefits: Helps in funding business operations, purchasing machinery, or expanding production capacity.

Plot LAP

o Purpose: Borrow funds by pledging a plot of land you own. o Features: Loan amounts up to 40-50% of the plot's market value. o Benefits: Suitable for landowners who wish to unlock the value of their property for various needs.

Lease Rental Discounting (LRD)

o Purpose: A loan based on the rental income of your leased property. o Features: Loan amount is determined based on the discounted value of future rental income. o Benefits: Ideal for property owners with long-term tenants looking to access immediate funds

Balance Transfer LAP

o Purpose: Transfer your existing LAP to Mitra Loans to benefit from lower interest rates and better terms. o Features: Refinancing option with the potential to increase the loan amount. o Benefits: Reduces your EMI burden and offers the option for a top-up loan.

Why Choose Us

At Mitra Loans, we believe in empowering you with the best financial solutions.
Here’s why our clients trust us

Wide Range of Loan Products

Whether you're looking for a home loan, business loan, or personal loan, we've got you covered. We offer loans that are tailored to meet your specific needs

50+ Banks and NBFC Partnerships

We’ve partnered with over 50 banks and NBFCs to bring you the best interest rates and loan options, ensuring that you have the power to choose the most competitive deals in the market.

Personalized Service

Our team works closely with you to understand your financial goals and customize solutions that best meet your needs, offering a personal touch throughout your loan journey.

Dedicated Customer Support

Our support team is always here for you, providing timely assistance and guidance whenever you need it. We are committed to making your loan experience smooth and convenient.

Simple and Transparent Process

We keep things clear and easy to understand. From eligibility checks to loan approval, our process is designed to be hassle-free and transparent, so you know exactly what to expect.

Age & Income

• Minimum Age: 21 years. • Maximum Age: 65 years at the time of loan maturity. • Salaried Individuals: Minimum monthly income of INR 20,000. • Self-Employed Individuals: Minimum annual income criteria based on the type of business or profession.

Property Ownership

• The property pledged must be free of any legal disputes and should be in the name of the loan applicant or co-applicant.

Credit Score

• Minimum Credit Score: A good credit score (typically 650 and above) improves eligibility and access to better interest rates.

Property Valuation

• The property’s current market value is assessed by an approved valuer to determine the loan amount.

Indentity Proof

Pan Aadhar Election Voter Id

Address Proof

• The property pledged must be free of any legal disputes and should be in the name of the loan applicant or co-applicant.

Aadhr Card Electricity Bill Latest LPG Gass Bill Ownership Document

Income Proof

• Minimum Credit Score: A good credit score (typically 650 and above) improves eligibility and access to better interest rates.

If Salaried Person Employee Id Payslips Form 16 Form 26As Offer Letter If Self Employeed Last 3 Years Income TAX Returns Business License Audit Cetificate

Property Documents

• The property’s current market value is assessed by an approved valuer to determine the loan amount.

Sale Deed Link Documents Property Tax Layout Nessesary Related To Property

Know Your EMI in Seconds!

Use our easy EMI calculator to estimate your monthly payments and explore the best loan options.

Ready to take the next step?

Apply online today and let Mitra Loans help you achieve your dreams!

Frequently Asked Quesions(FAQ's)

What is the maximum loan amount I can borrow under LAP?

• Mitra Loans offers up to 70% of the property’s market value as a loan, depending on the type and condition of the property.

How is the interest rate on a LAP determined?

• Interest rates are based on factors such as the loan amount, tenure, credit score, and the type of property pledged.

Can I use the loan amount for any purpose?

• Yes, Loan Against Property is a multipurpose loan, meaning you can use the funds for any personal or business-related expenses.

What happens if I fail to repay the LAP?

• If you default on the loan, the lender has the right to take possession of the property and sell it to recover the outstanding amount. It’s important to communicate with the lender if you’re facing financial difficulties to explore possible solutions.

Is it possible to get a top-up loan on my existing LAP?

• Yes, Mitra Loans offers the option of a top-up loan on your existing LAP, subject to eligibility and property valuation.

What is the tenure for Loan Against Property?

• Repayment tenures typically range from 5 to 15 years, giving you the flexibility to choose a term that fits your financial plans.

Can I prepay my LAP?

• Yes, you can prepay your loan. Mitra Loans offers flexible prepayment options with minimal or no penalties, depending on the loan terms.

Are there any tax benefits on Loan Against Property?

• You may be eligible for tax benefits on the interest paid if the loan is used for business purposes or for acquiring/construction of a house. It is advisable to consult a tax advisor for specific details.

What documents are required for a LAP application?

• You’ll need identity proof, address proof, income proof, and property-related documents such as the title deed and property tax receipts.

How long does it take to get a LAP approved?

• The approval process is usually quick, typically taking 1-2 weeks, depending on the verification of the property and documents.

Our Lending Partners

At Mitra Loans, we’ve partnered with leading banks and NBFCs
to offer you the best loan options at competitive rates, ensuring a wide range of financial solutions tailored to your needs.

Check Your Loan Eligibility

In just a few clicks,
find out how much you can borrow with Mitra Loans.

Mitra Loans is a trusted brand under Ecomitra Consultancy Services India Pvt Ltd. With a strong foundation in the financial services sector, we have established ourselves as a reliable partner for thousands of customers across India.

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