Loan Against Property

Chola’s Loan Against Property (LAP) unlocks your property's value to fuel your dreams. It is a secured loan with flexible repayment option that allows you to borrow funds by pledging your property as collateral.

Why Chola Loan against property?

Business growth:

Get Loan Against Property for business to access funds for business expansion, be it expanding your capacity, securing working capital, or stocking up on inventory.

Fast approval on loan process:

Get quick approval to meet your urgent requirements on Chola's loan against property

Flexible Tenure:

Repayment tenure up to 15 years and easy eligibility for salaried professionals and self-employed

Flexible Repayment:

Choose a repayment tenure that suits your budget, with options extending up to 15 years.

Simplified Process:

Enjoy easy eligibility for salaried professionals and self-employed individuals, with minimal documentation required.

Key Highlights

  • Secured long term loans
  • Exclusive products for the self-employed

Features & Benefits

Fast track approval process Fast track approval process
Part Payment and Prepayment facility Part Payment and Prepayment facility
Balance Transfer with better interest rates Balance Transfer with better interest rates
Loan from 5 Lakhs to 7.5 Crores Loan from 5 Lakhs to 7.5 Crores
Floating rate of interest Floating rate of interest
Tenure of upto 15 Years Tenure of upto 15 Years

Quick Financial Support

Frequently Asked Questions

  • What is loan against property?

    Any loan taken using property as collateral is called loan against property.

  • For what purpose can you avail Loan against Property?

    You can avail Loan against Property against Residential & Commercial Properties for business purposes.

  • What types of properties would be considered as collaterals?

    Self-occupied residential property, commercial property (offices, shops etc.) and alternate property (industrial property, schools, hospitals, hotels, etc.) can be considered as collaterals.

  • Who can avail loan against property?

    Any Resident Indian Individual (salaried/ business owners) partnership firms or companies can apply.

  • What are the documents required to avail a loan against property?

    Along with application form, following documents are required to be submitted: • Proof of residence • Proof of identity • Certified/latest financial documents • Copies of all property documents

  • How long will it take for loan approval?

    It would take minimum of 5 working days after submission of required documents.

  • What is the maximum loan tenure?

    We offer loan against property for maximum tenure of 15 years.

  • What is the maximum loan amount?

    The maximum loan amount that you can get from our Loan Against Property is customizable to suit your requirements and depends on your property valuation.

  • What is LTV?

    Loan to Value (LTV) is a term that is used to express the ratio of a loan to the value of the asset mortgaged.

  • What is Pre-EMI Interest?

    Pre-EMI interest is the interest calculated on the portion of disbursed loan amount, up to the date of commencement of full EMI.

  • Can I Pre-close my loan?

    Yes. You can pre-close your loan post completion of 12 months. An individual availing loan against property at floating interest rate enjoys nil foreclosure charges.

  • Who can be co-applicant to the loan?

    You can include your spouse/close relatives/ property owners as a co-applicant for the Loan. The co-applicant’s income will be considered for the purpose of assessment of repayment capacity.

  • Is a guarantor needed?

    Normally a guarantor is not required; however, this would also depend upon the loan facility and financial strength of the customer.

  • Will the property need to be insured?

    You will have to ensure that the property is duly and properly insured for fire and other appropriate hazards during the tenure of the loan and evidence for the same needs to be produced thereof each year and/or whenever required.

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