☰
Residence Plot Mortgage

A Residential Plot Mortgage Loan is a secured loan facility where an applicant mortgages their owned residential plot with a bank or NBFC to obtain funds. This loan is ideal for individuals and business owners who need a large amount of money without selling their property.

The loan can be used for business expansion, education, marriage, medical expenses, debt consolidation, or any other legitimate personal or business purpose. The loan amount is generally up to 40% to 60% of the current market value of the plot. Since it is a secured loan, interest rates are lower compared to personal loans, and the repayment tenure ranges from 5 to 15 years, making EMIs affordable. Clear property title, approved layout, and valid legal documents are mandatory for loan approval.

Apply Now
Loan Image

Acceptance Criteria

Check Eligibility Now

Applicant Age:
Minimum: 21 years
Maximum: 65 years at loan maturity (some lenders allow up to 70 years)

Applicant Type:
Salaried individuals
Self-employed professionals
Business owners / traders

Income Requirement:
Stable and regular income source is mandatory
Minimum income criteria as per lender policy

Property Eligibility:
Residential plot must be freehold and in applicant’s name
Clear and marketable title with no legal disputes
Plot should be in an approved residential layout
Property must be within municipal or development authority limits

Credit Profile:
Good credit history preferred (CIBIL score generally 650+)

Co-Applicant (if required):
Co-applicant may be required to enhance eligibility or income.

Loan Amount Offer
The loan amount is generally up to 40% to 60% of the current market value of the plot.
Rate of Interest(%)
Minimum ROI Start From : 10.50 % P.A.
Maximum ROI : 18.00 % P.A.
Tenure
Minimum Tenures : 60 Months
Maximum Tenure : 180 Months
Documents Required for Loan

Applicant & Co-Applicant – Documents List

Category Applicant Documents Co-Applicant Documents
Identity Proof Aadhaar Card, PAN Card, Voter ID / Passport / Driving License Aadhaar Card, PAN Card, Voter ID / Passport / Driving License
Address Proof Aadhaar Card, Electricity/Water Bill, Bank Passbook Aadhaar Card, Utility Bill, Bank Passbook
Photographs 2–4 Passport Size Photos 2–4 Passport Size Photos
Income Proof (Salaried) Last 3–6 Months Salary Slips, Form-16, Bank Statement (6 Months) Same as Applicant (if salaried)
Income Proof (Self-Employed) ITR (2–3 Years), Balance Sheet, P&L, Bank Statement (6–12 Months) Same as Applicant (if self-employed)
Bank Statement Last 6–12 Months Last 6–12 Months
Property Documents Sale Deed, Approved Layout Plan, Property Tax Receipt, EC Not Required
Existing Loans (if any) Loan Statements / Sanction Letters Loan Statements (if any)
Application & Others Loan Application Form, Processing Fee Cheque Co-Applicant Declaration & Signatures
Golden Features and Benifits

Access to Large Funds:
Get a higher loan amount by leveraging the market value of your residential plot.

Lower Interest Rates:
Being a secured loan, interest rates are significantly lower than personal or unsecured loans.

Long Repayment Tenure:
Flexible repayment period ranging from 5 to 15 years, resulting in affordable EMIs.

No Need to Sell Property:
Meet financial needs without selling your residential plot.

Multi-Purpose Usage:
Loan can be used for business expansion, education, marriage, medical expenses, or debt consolidation.