Get Funds by Pledging Your Property
India Home Loan Ltd. offers Loan Against Property (LAP) to individuals who own self-occupied residential properties. Unlock the value of your property and get up to 60% of its market value to meet diverse financial needs such as business expansion, education, or personal expenses.
- Easy documentation process.
- No hidden charges.
- Competitive interest rates.
- Loans for multiple purposes.
- Flexible repayment options.
- Transparency throughout the process.
- Quick loan approval.
- Expert assistance.
Comprehensive Solutions
Our Loan Against Property solutions are designed to cater to diverse needs, providing a perfect blend of flexibility and affordability.
Personalized Assistance
With a customer-first approach, we ensure a seamless experience by offering tailored solutions that align with your financial goals.
| Activity | Annual Reducing Method | Monthly Reducing Method | Daily Reducing Method |
|---|---|---|---|
| Reduction from Principal | The principal component of the EMI is reduced from the loan amount only at the time of prepayment or on March 31 each year. Thus, the customer continues to pay interest on the opening principal as on April 1 each year. | The principal component of the EMI is reduced from the loan amount each month, and the interest for the next month is calculated on the reduced principal. Thus, the customer benefits from principal payment reduction every month. | Interest is calculated only up to the date of payment, and any excess payment received is adjusted towards principal. Thus, the customer benefits from amortization on each date of payment. |
| Impact of Rate Revision | Effective from the month following the month when the rate revision is effected. | Effective from the month following the month when the rate revision is effected. | Effective from the same day when the rate revision is effected. |
| Calculation of ODI | ODI (Overdue Interest) is applicable if any payment is not received by the due date. | ODI is applicable if any payment is not received by the due date. No waiver in ODI is possible. | ODI is applicable if any payment is not received by the due date. No waiver in ODI is possible. |
| Prepayment Calculation | The effect of prepayment is given from the month following the month in which prepayment is received. | A 5-day grace period is provided for prepayment benefit each month. If prepayment is made by the 5th of the month, the benefit is given from the same month; otherwise, the full EMI is payable for the current month, and the prepayment impact is given from the next month. | The benefit of prepayment is given from the immediate next date of prepayment, irrespective of the date the prepayment is made. |
To apply for a home loan, you'll need to provide proof of income, your credit history, and employment verification. Additionally, you'll need to submit recent tax returns and details about your assets and liabilities. To apply for a home loan, you'll need to provide proof of income, your credit history, and employment verification.
To apply for a home loan, you'll need to provide proof of income, your credit history, and employment verification. Additionally, you'll need to submit recent tax returns and details about your assets and liabilities. To apply for a home loan, you'll need to provide proof of income, your credit history, and employment verification.
To apply for a home loan, you'll need to provide proof of income, your credit history, and employment verification. Additionally, you'll need to submit recent tax returns and details about your assets and liabilities. To apply for a home loan, you'll need to provide proof of income, your credit history, and employment verification.
To apply for a home loan, you'll need to provide proof of income, your credit history, and employment verification. Additionally, you'll need to submit recent tax returns and details about your assets and liabilities. To apply for a home loan, you'll need to provide proof of income, your credit history, and employment verification.
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