Get The Loan Against Property Of Your Choice With Andromeda
Get complete access to our in-house CRM to avail instant Loan Against Property approvals for your customers.
Widest Choice For Best Deals
With over 125 lending partners, get the widest choice of Loan Against Property for your customers.
Ensure maximum protection for your data, as well as your customers’, from online theft.
Easy Mobile Tracking
Track your customer’s Loan Against Property status efficiently, using our digital platform and in-house CRM.
Loan Against Property Features and Benefits
Starting at 8% p.a.
Avail Loans Against Property for low EMIs, as interest is calculated on a reducing balance method.
Get a Loan Against Property without any hassle by submitting just the basic paperwork.
Pay interest on Business Loans only on the principal amount outstanding.
Loans Against Property are provided against the security of a property, hence they get processed and disbursed quickly.
Avail a Loan Against Property for tenures as long as 15 years.
Calculate Your Loan Against Property EMI
Calculate your Loan Against Property EMI for different interest rates, loan amounts and tenures, using Andromeda’s Loan Against Property EMI Calculator.
Total Payable Amount
Loan Against Property Rates
Compare Loan Against Property features of banks across key categories.
21 years and above.
700 and above
Indian Residents / Non Resident Indians (NRIs) / Persons of Indian Origin (PIOs).
Salaried Professionals must have been employed at their current workplace for at least 6 to 12 months. Self-employed Individuals should have had a business tenure of at least 3 years (continuous).
Get the best deals on Loans Against Property on Andromeda, and apply for one in an easy and hassle free manner.
1. Personal details
Fill up your personal details such as occupation, city, monthly income, phone number, etc. Then, click Proceed.
2. Loan Offers
Browse through the various offers on Loans Against Property and select the one that’s best suited to your needs.
3. Additional details
Fill out any additional details that may be required.
Your selected lender will send you an instant e-approval. Following which, a representative from your selected lender will get in touch with you to guide you through the documentation process.
Frequently Asked Questions
The value of the property put on mortgage to avail the loan is calculated based on its Fair Market Value(FMV). FMV is the price that a property would fetch in the open market under the current conditions.
The tenure for Loan Against Property is longer than that for a personal loan. It’s usually up to 15 years.
Loans Against Property can be taken against self-occupied/rented residential properties, commercial spaces such as office buildings, malls, shopping complexes, etc, and/or against a plot of land owned by the borrower.
Yes. You can prepay your entire Loan Against Property or a portion of it in advance. Prepayment reduces the Principal amount, thereby reducing the monthly EMI. According to the RBI, no lender can levy prepayment penalties or foreclosure charges on Loans Against Property that have been taken on floating rates of interest. That said, some lenders may continue to levy such penalties on fixed rate LAPs.
- Self-employed individuals can claim tax exemption from a LAP if the loan has been utilised for business purposes. The benefits can only be claimed against the total amount paid as interest and other associated fees and charges. These can be claimed as business expenses under Section 37(1) of the Indian Income Tax Act.
- Salaried individuals can claim benefits of up to Rs.2 Lakhs, under Section 24(B) of the Income Tax Act, if the LAP has been used to purchase another residential property.
Get Instant Approval On Loans Against Property.
With interest rates as low as 8% p.a., and a repayment tenure of up to 15 years.
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