Who We Are
Loan Against Property for Self Employed Overview
Ownership
A Loan Against Property (LAP) allows you to leverage your residential, commercial, or industrial property to secure funds. The property remains under your ownership, and the loan is provided based on the value of the property and your eligibility.
Re-finance
An opportunity to re-finance can be used to increase the loan amount for a businessman who is on a continuous expansion spree. They can use the same property to continuously build the business later as well.
Partial Pre-closure
Loan against Property allows the partial pre-closure without any penalties. This is perhaps an advantage as the overall interest burden or the tenure of the loan can be reduced by paying small additional amount.
Processing
The processing of a Loan Against Property is faster than a housing loan, as the property already exists.
Benefits & Features
Online account access
You can view all your loan account details and transact on your loan account on our Customer Portal. Log in with your User ID/ Mobile Number/Email and Password.
Products Portfolio
- Loan Against commercial property
- Loan Against residential property
- Loan for purchase of commercial property
- Loan Against plot
- Lease Rental Discounting
- FlexiSaver loan
Eligibility & Documents
A Loan against Property eligibility with Nitstone Finserv includes the following scenarios:
- Indian residents aged 25 years or above at the time of loan sanction.
- Individuals, proprietorships, partnerships, and companies with a verified source of income.
- Property ownership must be verifiable and free of legal disputes.
- Loan amount and approval are subject to property valuation and applicant eligibility.
Documents Required for Loan Against Property:
- Completed application form
- Applicant’s photograph and identity proof
- Address and signature proof
- Property ownership documents (sale deed/lease deed)
- Financial documents (IT returns, balance sheets, P&L statements)
- Partnership deed / MOA / AOA (if applicable)
- Bank statements for the last 6 months
- Additional documents may be required depending on the applicant type and loan purpose.
Ready to Apply
Apply NowHow to Apply
Step 1
Click on Apply to go to our online form. Fill in detail and submit the form.
Step 3
Our representative will get in touch to collect your documents.
Step 4
Amount will be credited to your account.
Step 2
Get an approval. Select your required loan amount and tenure.
Fees & Charges
| Types of fees | Charges applicable |
|---|---|
| Processing fees | Up to 2% of the loan amount |
| Loan statement charges | Nil |
| Interest and principle statement charges | Nil |
| PDC swap charges | Nil |
| EMI bounce charges | Rs.1000 for every bounce |
| Penal interest | 2% p. m. |
Foreclosure Charges
| Borrower Type: Interest Type | Time Period (Months) | Foreclosure charges |
|---|---|---|
| Individual: Floating rate | >1 | Nil |
| Non-individual: Floating rate & All borrowers: Fixed rate | >1 | 4% plus applicable taxes on amount paid |
- For Term Loan on Principal Outstanding
Part prepayment charges
| Borrower Type: Interest Type | Time Period (Months) | Part payment charges |
|---|---|---|
| Individual: Floating rate | >1 | Nil |
| Non-individual: Floating rate & All borrowers: Fixed rate | >1 | 2% plus applicable taxes on part payment amount paid |
- Part payment made should be more than 1 EMI