Service Request Form
(Maximum 200 characters will be allowed)
loading refresh
banner

Loan Against Property

Avail Loan Against Property for all your business and personal needs. Get up to 80% funding with flexible loan tenure and competitive interest rates.

  • Option to Save on EMI and avail top-up on existing loan.
  • Loan eligibility based on bank statements or GST returns.
  • Lease rental discounting facility; eligibility based on rental income.
  • Convenient and flexible loan tenure up to 15 years.
  • Loan to value of property up to 80%.
  • Competitive Interest rates.
  • In addition to Loan Against Property, we also provide loans for purchase of Commercial property.
Eligibility

Loans can be availed by Resident Indian Individuals of below groups:

Salaried Individuals

  • Minimum age criteria of 18 years.
  • Maximum Age at Maturity of loan should not be more than retirement age.
  • Minimum Income: Rs. 30,000/- per month.
  • Experience: Min. of 3 years work-ex, with min. of 6 months with current employer.


Self-Employed Professionals/Self-Employed Non-Professionals

  • Minimum age criteria of 18 years.
  • Maximum Age at Maturity: 65 years, if income considered for eligibility.
  • Business existence of Min. 3 years in current business.
  • Minimum Income: Rs. 3,00,000/- P.A as per latest ITR.
Basic Financial Documents Requirement

Salaried Individuals

  • Photo Identity Proof and Address Proof: As per RBI KYC guidelines.
  • Income Proof: Latest 3 years' ITR / Form 16, Last 6 months' bank statement reflecting salary credit, latest 6 months' salary slips.
  • Monthly Obligations: Sanction letters or Statement of Account.
  • Employee ID card copy.
  • Property Documents: Complete chain of property title deeds, approved layout / plan and any other document applicable for creation of valid mortgage.

Self-Employed Professionals/Self-Employed Non-Professionals

  • Photo Identity Proof and Address Proof: As per RBI KYC guidelines.
  • Business Entity Proof: Shop Act License / MOA & AOA / GST registration, Partnership Deed.
  • Shareholding pattern in case of Pvt Ltd. Companies.
  • Obligation Sheet: Sanction letters or Statement of Account.
  • Latest 3 years ITR copies and 12 month Banking statements of all current, Overdraft / Cash Credit and savings account.
  • Property Document: Complete chain of property title deeds, approved layout/plan and any other document applicable for creation of valid mortgage.
Apply Now
  • Call Us

    1800 209 9494

Leave us your contact details
loading refresh
Captcha is case-sensitive.
FAQs Expand All
What is the minimum and maximum property loan tenure?

We offer our customers a loan tenure from a minimum of 12 months up to a maximum of 180 months.

Can I avail property loan for a property which is owned by parents?

Yes you can. All the owners of the property will be considered as co-applicants of the loan and subject to credit underwriting norms.

What criteria does a property need to fulfill for availing LAP?

One needs to ensure that the title of the property is clear, free from any litigation, encumbrances, charge and also should not have an existing mortgage or loan. Also, the property should not be in dilapidated condition and should not go into redevelopment during the tenure of loan.

What kind of properties are eligible as collateral for this mortgage loan?

Properties eligible as collateral for our Loan Against Property are as follows:

  • Owned/Rented/Vacant Residential
  • Owned/Rented/Vacant Commercial
  • Industrial
What is repayment schedule?

A repayment schedule is a table that offers a view of how loan amount is repaid via monthly installments. It gives a breakup of every EMI (Principal + Interest) towards the repayment of your loan.

Can LAP be availed for Financing Education?

Yes, apart from financing education, LAP can be availed for below end usage. Business Expansion, Debt Consolidation, Purchasing Raw material, Mortgage Buyout/Balance transfer, Managing Marriage Expenses, Purchase of Commercial Property.

How is my eligibility calculated for LAP?

Eligibility in LAP is calculated basis various parameters.
These parameters include, but not limited to:
Age, income, property nature & value, existing obligations, past track record.

Are there any Foreclosure charges, if the loan is foreclosed pre-maturely?

There will be no Foreclosure charges / pre-payment penalties on any floating rate termloan sanctioned for purposes other than business to individual borrowers, with or without co-obligant(s). For loan purpose as business use, foreclosure charges of 4% + GST will be applicable. Please refer the Fees and charges section for more details.

Disclaimer: Loan disbursement will be subject to complete documentation including evidence of valid and marketable title over the property to be mortgaged & credit approval at sole discretion of Kotak Mahindra Prime Limited and subject to guidelines issued by RBI from time to time. Available at select locations only. All mandatory charges and statutory fees including mandatory stamp duty charges applicable and to be borne by the applicant. T&C apply.

Margin Money Scheme
  • We provide finance for acquisition of new car up to 100% of the invoice value for certain models.
  • The customer should pay the margin money (invoice value minus the finance amount) to the dealer directly. He also has an option to pay the margin money to KMPL upon which we would release the entire invoice value to the Dealer.
  • The financed amount can be repaid as per your convenience (12 - 84 months EMIs).
Apply Now
Step Up Scheme
  • Increase in EMI after every year, six months or quarter (depending upon your needs).
  • Best suited for people who want the luxury car experience.
  • Make payments in line with your growing income (starting with low EMIs in the early period of repayment).
Apply Now
Low EMI, Balloon Scheme
  • 10%-25% of the cost of the car to be paid as last EMI.
  • Reduced EMI for the entire tenure.
  • Best for customers who want to dispose off their vehicle at the end of the tenure and are looking at affordable EMIs during the tenure.
Apply Now
Advance EMI Scheme
  • Make the payments of a few monthly instalments upfront
  • Balance payable through EMIs
  • Repay your loan much faster with the advance instalments
Apply Now

Quick Links

@ Copyright Kotak Mahindra Prime Limited. 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 All rights are reservedSite best viewed in Ie8+, Firefox 3.5+, Chrome 3+, Safari 5.0+ at 1024 x 768 pixels resolution.

Track Your Car Loan Application