• Enquiry Now

  • Karolbagh,
    New Delhi-110005

  • Our Working Hours
    Mon - Sat: 10 am - 7 pm

Loan Against Property

Loan Against Property

This is one of the simplest ways to raise funds, as it involves using your property (residential/commercial) as a guarantor for a loan. That is, your own property can help you get a loan. A loan secured by real estate is a secured loan. This is due to the borrower transferring a property to the bank as a guarantee. According to customers, LAP is extremely secure. It gives the customer more trust. As a result, no bank or financial institution will question the customer's or client's ability to repay. Loan Magic makes LAP available at low interest rates.

    This is a secured loan so :-
  • EMI is lower
  • Cheaper Interest Rate
  • Longer Tenure
  • Maximum amount possible given as loan amount

The tenure of LAP is more compare to Loan Against Property . Bank checks all the documents related to property that the borrower is providing for the loan. Properties that can use in LAP are mostly self-occupied or rented residential property. It can be a house or even a piece of land. In LAP, ownership of the property handed over as collateral always remains with the consumer, as opposed to Home Loan, where ownership is completely transferred to the Financial Institute/Bank. The consumer is not required to repay the entire loan in order to obtain ownership. If the consumer is unable to repay the loan amount, he or she may sell the property at any time. The amount that he receives from selling the land can be used to pay off the loan. When the loan is repaid in full, including the charged interest, the consumer receives his property back.

Loan Against Property


Quick & Easy LAP Processing

We know that you need funds immediately, which is why we process your loan against property application swiftly. With minimal paperwork and online application, the entire LAP loan process can be done online. It’s easy. It’s fast.

Nature of Collaterals Accepted for Loan on Property

We accept a wide range of collateral for loan on property to fund your immediate financial needs. You can get a loan against residential/commercial property, loan against land, loan against plot, loan against industrial property, and much more.

Loan Against Property Overdraft Facility

Looking for extra cash? Our loan against property comes with an overdraft facility to help you meet your financial contingencies.

Pre-Qualified Top Up on Property Loan

Getting extra finance couldn’t get easier. Our existing LAP loan customer gets the facility of a Pre-qualified Top Up loan. With Loan Magic, you can easily avail of credit over and above your property loan amount to fund big expenses.

  • Eligibility criteria
  • Documents required
  • How to apply
  • Properties covered & purpose

Loan Against Property Eligibility

  • Segment - Working in MNC / Public Ltd. Co/ Large Pvt. Ltd. Co./State Govt/ Central Govt. / PSU
  • Age - Minimum- 23 Years and Maximum- 65 Years or age of retirement - which ever is earlier at loan maturity
  • Income per annum - Rs 2,40,000
  • Occupational Stability - Minimum 3 Years

What are the Documents Required for Getting a Loan Against Property ?

  • Application Form : Application form to be submitted to initiate the Loan Against Property request
  • Photograph: Your latest photograph
  • Photo Identity Proof : A copy of your Voter ID / Passport / Driving License / Aadhaar Card
  • Address Proof : A copy of your Ration Card / Electricity Bill / Passport
  • Signature Verification : Your signature
  • Income Proof : Submit Form 16 for last 2 years and a copy of your bank statements for the last six months
  • Salary Slips : A Copy of your Salary slips for the last three months

How to Apply for a Personal Loan?

With Loan Magic, you can apply for a housing loan in various ways:

  • Visiting our Branch

You can visit your nearest Loan Magic branch to apply for a Personal Loan offline. Our executives there will guide you through the entire process.

  • Through the phone

Properties covered under Loan Against Property

    With Loan Magic, you get multiple options to avail of a loan on property. These include:

  • Loan against residential property
  • Loan against commercial property
  • Loan against industrial property
  • Loan against land/plots
  • To avail a loan against property, the property must be self-owned by the borrower.

Purpose of Loan Against Property

You can avail a loan on property for various purposes. These include:

  • Loan on property to start or expand a business
  • Loan on property to meet Working Capital Needs
  • Loan on property for Consolidation of Debt
    Loan on property for Mortgage Buyout
  • Loan on property for Investment
  • Asset Allocation
  • Renovation of Property
  • Asset Acquisition
  • Refinance of Self-financed Property
Why Us

Why we are the right fit for you

Loan Magic, a name you can trust

With the customers’ individual desires and needs in mind, our team at Loan Magic guides you at every step and offers specific financial solutions.

You repay at your convenience

At Loan Magic, we offer Loan Against Property that is completely customisable to your needs. You can tailor your loan while selecting your loan tenure.

We’ve Been Here for a Long Time

We have extensive experience in the field. We can make the process of getting your loan approved easy and hassle-free because we have a lot of experience providing finance loans.

Multi-Usage of the Loan

Loan Against Property is one of the most diverse loans you can take. Using your property as collateral, you get access to funds that can address your needs.

You still own the property

You use your property only as collateral while you continue to own the valuable asset. Only in the event that you feel that you are unable to repay the loan amount, you get the choice to sell your property in order to settle the loan.

Choice in property type

You have the choice when it comes to what kind of property you wish to use to secure a loan. We at Loan Magic accept both residential and commercial properties as collateral.