About Loan Against Property

If you need capital and have a commercial or residential property that you can use as collateral, Chickly Bank’s Loan against Property is the answer. Although the loan sum is determined by the total value of your land, you are free to spend the money as you see fit. Your property serves as collateral for the loan, but you will continue to use it normally.

Why Chickly Loan Against Property

Our Loan Against Property will help you achieve your life goals in minutes!

Loan Against Property up to `5 crores

Our mortgage plans allow you to borrow up to 70% of the market value of your house. You can easily meet your business and personal needs with loans of up to 5 crores.

Easy interest rates

With our loan against property, you can get the best interest rates on loan against property in the market and maximize your benefits. We have flexible repayment terms so that you can manage your finances accordingly.

Convenient and transparent process

Our mortgage loan products and services are designed to be as fast and straightforward as possible. Our staff is available by phone and email to assist you in locating the best loan opportunities and interest rates.

Quick & Easy Processing

We understand that you need funds immediately, which is why we process your loan application as soon as possible. The whole process can be completed electronically, with minimal paperwork and an online application. It is easy and fast.

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Interest charged depends on several factors

The interest rate on a loan secured by real estate is determined by several factors. There are some examples:

Your nature of work

The nature of the property

The property's present market value

Available documentation

Your income

Your credit history

Loan Against Property Eligibility

  • Proof of Identity
  • Address Proof
  • Bank statements for the previous six months
  • Salary slips for the previous six months (for salaried customers)
  • Audited financial statements (for self-employed and SME applicants)
  • Form 16
  • Income Tax Returns for the Previous Three Years
  • Processing fee cheque
  • Documentation about the property offered as collateral

Frequently Ask Questions

A loan secured by real estate is an excellent and easy way to collect funds. Loans against the land, as the name implies, are approved by financial institutions by accepting the property as collateral. The borrower must pledge his or her property as collateral for the loan sum. If the borrower fails to repay the loan within the tenure, the lender will sell or auction the property to recover the loan amount sanctioned to the borrower.

You will receive up to 70%* of the market value of your residential property or 60%* of the market value of your commercial premises. It is highly advised that you talk with a customer service representative to learn more about the maximum loan sum that you can receive against your mortgaged property.

Following company approval, the loan balance will be transferred directly to your operating bank account. The approval protocol involves a loan agreement review procedure as well as other legal formalities. After the property has been scientifically and legally appraised, the loan amount is disbursed.