Who We Are
Loan Against Property for Self Employed Overview
Ownership
A Loan Against Property (LAP) lets you use your residential, commercial, or industrial property to secure funds while retaining ownership. The loan amount depends on the property’s market value and your eligibility.
Re-finance
Business owners can increase their loan amount by refinancing the same property for future expansion.
Partial Pre-closure
You can part-prepay your LAP without penalties. This helps reduce interest costs or loan tenure.
Processing
As the property already exists, LAP processing is quicker than a home loan.
Benefits & Features
Online account access
View and manage your loan account anytime through our Customer Portal using your login credentials.
Products Portfolio
- Loan Against commercial property
- Loan Against residential property
- Loan for purchase of commercial property
- Loan Against plot
- Lease Rental Discounting
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 access our online form. Complete the details and submit the application.
Step 2
A Nitstone representative will review your application and contact you to discuss the next steps.
Step 3
Provide the required documents for verification.
Step 4
Loan processing will proceed according to standard verification and approval procedures. T&C*
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