Following are the key features and benefits of a loan against property:

• A loan of up to 70% of the property's market value is offered.

• Flexible repayment terms make the loan against property rates competitive.

• Facilitates easy repayments through small monthly instalments.

• Quick processing, usually 3 to 4 days with minimal documentation.

• The applicant's age must be between 21 years to 65 years old.

• Flexible repayment tenure up to 20 years.

• Is available on plots, residential property and commercial property.

• Lower interest rates, starting from 11 percent.

• A loan amount of INR 5 lacs to INR 7.5 crores can be offered based on the property's market value.

• No additional collateral is required. 

• Availability of balance transfer on the existing loan.

• Minimal prepayment penalties may vary from one bank to another.