Can I Get a 100%
Loan Against Property or Not?

A loan against property is a popular financial product when you need to raise funds for both personal and business expenditures. Simply put, the loan is approved when the individual submits an immovable asset such as a commercial or residential property or a piece of land owned by the borrower as security or collateral.  

SMFG India Credit offers a range of options if you are looking to avail a loan against property. However, the maximum loan amount is never equal to a 100 percent loan against property. The same principle is applicable for home loans too. Even if the borrower is looking to avail 100 percent home loan from the lender, the bank or NBFC will not be able to grant the request. 

Generally, most lending institutions including SMFG India Credit will be able to offer you up to a specified percentage of the present market value of the property as the loan amount. The percentage is variable. For instance, SMFG India Credit offers up to 70% of the market value of residential properties or 60% of the market value of commercial premises. These percentages may vary depending on the eligibility & repayment capacity of the borrower, as well as the nature, location and value of the property.

Eligibility

You can apply for SMFG India Credit’s loan against property online, from the convenience of your home or office. Simply meet the loan against property minimum eligibility criteria to make your application today.

For Salaried and Self-Employed Individuals:

• The applicant should be an Indian resident
• The age limit for salaried applicants is 21years at the time of putting in the request for the loan against property. For self-employed individuals, it is 22 years. Applicants must not be more than 65 years old by the time of loan maturity.
• Salaried individuals must be employed in a public or private sector enterprise. Evidence of a regular source of income must be provided by self-employed professionals.
• Both salaried and self-employed applicants must have at least a 700 CIBIL score.

You can use our free Loan against property LTV calculator to get an estimate of the maximum loan amount you can get for your property based on LTV and your repayment capacity. Do note that the final eligibility will also depend on a number of other factors such as creditworthiness, income, nature of employment, etc. .

Documents Required

If you meet the eligibility parameters, you will need to submit documentation in support of your loan application. The general list of documents include:

For Salaried and Self-Employed Individuals:

• All KYC documents including ID proof, address proof and age proof. PAN is mandatory.
• Salaried individuals must submit salary slips and bank statements for the last 6 months. Self-employed individuals must submit the last 6 months of bank statements along with any profit and loss statements over the past 2 years that has been audited by a chartered accountant
• Salaried individuals and self-employed professions must submit income tax returns.
• Salaried employees will be required to submit copies of their Form 16 
• Complete documentation for the property against which you wish to take out a mortgage 

Please note that depending on your individual profile, requirement and SMFG India Credit’s policy at the time of loan application, additional documents may be requested. 

You use the loan against property calculator to estimate your EMI for a given interest rate, loan amount and tenure to anticipate the approximate monthly EMI, and then choose a tenure accordingly. 

Interest Rates

SMFG India Credit offers up to Rs. 5 crores or 60%-70% of the value of the property (subject to eligibility)as the maximum loan against property. The loan against property interest rates provided are very competitive and attractive. The type of property, property documentation, net income, employment or business stability, credit score, repayment capacity, etc.  are some of the key factors that SMFG India Credit considers when determining the applicable interest rate for a borrower. 

You will be liable to pay a processing fee which can be up to 3% of the loan amount sanctioned.

How to Apply

The application for a loan against property can be made by visiting the nearest SMFG India Credit branch. Alternatively, you can take advantage of the contactless online process to apply for a loan from anywhere in the country and at any time. 

If going the online route, you just need to follow these easy steps. 

1. Fill in Your Application: Click on the “Apply now” button on this page, and select “Loan against Property''. Next, fill in the required details and submit. . Ensure that you share all relevant personal, professional and financial details accurately.

2. Application Review & Verification: Our representative will get in touch with you within 1-2 working days of submitting the application. . You will have the opportunity to discuss your requirements and understand the process. Next, you will be asked to submit all the requisite documents. SMFG India Credit will then conduct verification checks on your information, the property documents which will also include a valuation of the property.

4. Loan Disbursal: Post successful verification checks, you will be contacted to discuss the terms of the loan and then  we will share the loan agreement document with you that states all relevant terms and conditions of the loan. 

If you have any questions about applying for your loan against property online, simply call our customer service team on our toll free number (1800 103 6001) - available everyday between 9:00 AM - 7:00 PM except Sundays, 4th saturday of the month and public holidays) or email us at   to schedule an appointment.