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Cholamandalam loan against property

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Location 50Km from Branch
CIBIL Score 650+
Applicant Any Salaried or Self Employed
Applicant Age 21 Year to 65 Year
Loan Amount & Tenure 20 Lac- 7.50 Cr
( 3 Year to 15 Year)
Login Fees 5900
Rate of Interest & Type 10%-15% (Reducing)
TAT 5 days
Processing Fees 1.50% to 3% of loan amount
Foreclosure Charges Upto 4%
Insurance As per Age
Minimum Business Vintage 1 Year
Lock In Period 24 month
Part Payment Allowed No
LTV (i) Residential-65% (ii) Commercial-60% (iii) Industrial-40% (vii) Godown & Warehouse-50% 
Product (i) Fresh Loan (ii) BT+Topup (iii) Lease Rental Discounting (iv) Seller BT (v) Auction Property
(vi) Commercial or Industrial Purchase
Program (i) Banking Program-5 Cr
(ii) Income Program-7.50 Cr
(iii)Low LTV-7.50 Cr
(iv) LIP Program-7.50 Cr
(v) Cash Rental-1 Cr (50% of Cash Rent)
FOIR 100% of Cash Profit 
Cautious Profile (i) Builders (ii) Real Estate (iii) Person living in dominated area (iv) Share Traders(v) Liquor Seller
Negative Profile (i) Politian (ii)NBFC 
Funded Property (i) Residential Property (ii) Commercial Property (iii) Industrial Property (iv) Hotel & Restaurants
(v) Auction Property (if auction before 3 year) (vi)Godown & Warehouse (vii) PG Property & Multi Tanented Unit
(viii) Lal Dora (ix) Regularized Colony (x) Gram Panchayat Property (xi) Sub-Divided Property
(xii) Stone Slab Property (xiii) Legal & Technical not Clear (xiv) Nursing Home (xv) Subject to Registry Property
Negative Property (i) Lease hold Property without PTM (ii) Stand Alone Basement (iii) Hospital (iv) School (v) Plot
Accepted Collateral Other than Negative Property
Specific Property wise Funding Limit (i) Lal Dora-7.5 Cr (ii) Sub-Divided Property-7.50 Cr (iii) Stone Slab Propetry-7.50 Cr
Any Specfic Product for Professionals No
USP No Negative Profile 
Additional (i) Multi Tenanted Unit will be funded upto 15 Tanent
(ii) Demolition List property is fundable if entire property is coming
(iii) DOD Product not doing

Cholamandalam loan against property EMI Calculator

Interest Type

Loan Amount

₹

Interest Rate

%

Loan Tenure

Mo
Loan Amount₹100,000
Interest %10 %
Tenure (months)12
Emi (monthly)₹ 8,792
Total Interest₹ 5,499
Loan Amount + Interest₹ 105,499
YearTotal Principal
( A )		Total Interest
( B )		Balance
( A + B)		Total Payment Loan Paid Till Date (%)
₹ 24,076₹ 2,300₹ 26,376₹ 75,92424.08 %
Oct₹ 7,959₹ 833₹ 8,792₹ 92,0417.96 %
Nov₹ 8,025₹ 767₹ 8,792₹ 84,01615.98 %
Dec₹ 8,092₹ 700₹ 8,792₹ 75,92424.08 %
₹ 75,929₹ 3,199₹ 79,128₹ 0100.01 %
Jan₹ 8,159₹ 633₹ 8,792₹ 67,76532.23 %
Feb₹ 8,227₹ 565₹ 8,792₹ 59,53840.46 %
Mar₹ 8,296₹ 496₹ 8,792₹ 51,24248.76 %
Apr₹ 8,365₹ 427₹ 8,792₹ 42,87757.12 %
May₹ 8,435₹ 357₹ 8,792₹ 34,44265.56 %
Jun₹ 8,505₹ 287₹ 8,792₹ 25,93774.06 %
Jul₹ 8,576₹ 216₹ 8,792₹ 17,36182.64 %
Aug₹ 8,647₹ 145₹ 8,792₹ 8,71491.29 %
Sep₹ 8,719₹ 73₹ 8,792₹ 0100.01 %

Are you planning to buy a pre-owned car? Got your eye on the latest high-end sedan? Or, perhaps you are looking for something more practical - a small hatchback with five doors and four seats. Either way, there are numerous choices when it comes to buying a used automobile. If you want to purchase a Cholamandalam, you can avail yourself Up to 95% of the valuation amount; Up to 85% of the valuation amount(refinance loan), at attractive interest rates.

Right Documents - Easy Process

Required Criteria to Apply for Cholamandalam Loan Against Property

Salaried income documents

  • KYC of applicant & Co-Applicant
  • Last 3 Month Salary Slip of Applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 2 Year Form 16 of applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Appointment letter of applicant if available
  • Agreement to Sale if purchase case
  • Property Paper with complete chain of last 13 years
  • LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
  • Sanction letter of all running loan
  • Latest utility Bill if owned residence or rent agreement if rented
  • 2 Reference with contact details

Self Employed person documents

  • KYC of applicant & Co-Applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 3 year audited balance sheet of applicant
  • Last 3 year Tax audit report of applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Copy of GST registration
  • Copy of MSME registration
  • Copy of Last 12 month GST return
  • Agreement to Sale if purchase case
  • Property Paper with complete chain of last 13 years
  • LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
  • Sanction letter of all running loan
  • Debt Sheet
  • Latest utility Bill of residence if owned or rent agreement if rented
  • Latest utility Bill of Office if owned or rent agreement if rented
  • 2 Reference with contact details
  • Last 3 year Debtors & Creditors on letter head
  • List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP

Some Important Points

1. KYC Means
If Applicant is
  • Company-MOA, AOA, COI , PAN Card
  • Partnership Firm/LLP- Partnership Deed & PAN Card
  • Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
For Co-Applicant
  • KYC means  Adhaar Card, PAN Card, Passport Size Photo

Co-Applicant means in case of
  • Company : Directors
  • Partnership firm/LLP : Partners
  • Proprietorship Firm : Spouse of Proprietor
2. If LAP is applied with Government Bank then 30 year chain is required
3. If applicant is professional, then his professional degree is required
Share & Apply

About Cholamandalam Loan Against Property

You can take out funds through Cholamandalam Finance's loan against property services if you own residential, commercial, or industrial property. The amount of the loan you qualify for is determined by the valuation of the property as well as other elements, including your income, ability to repay the loan, and credit history.

For loans valued up to Rs 5 crore, Cholamandalam provides a loan against property at 10.50% p.a. onwards. The NBFC provides loans to self-employed individuals against their property for a variety of activities like growing or expanding their business and buying or updating plants and machinery. Loans are processed within 5-7 days after loan approval through a fast-track process.

Work Process

Save Your Time with a Simple Loan Process

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Let us take an example, How EMI is being calculated

Year Principal
(A)		 Interest
(B)		 Total Payment
(A + B)		 Balance Loan Paid To Date
2022 ₹ 83,031 ₹ 38,627 ₹ 1,21,658 ₹ 9,16,969 8.30%
Jul ₹ 13,610 ₹ 6,667 ₹ 20,276 ₹ 9,86,390 1.36%
Aug ₹ 13,700 ₹ 6,576 ₹ 20,276 ₹ 9,72,690 2.73%
Sep ₹ 13,792 ₹ 6,485 ₹ 20,276 ₹ 9,58,898 4.11%
Oct ₹ 13,884 ₹ 6,393 ₹ 20,276 ₹ 9,45,014 5.50%
Nov ₹ 13,976 ₹ 6,300 ₹ 20,276 ₹ 9,31,038 6.90%
Dec ₹ 14,069 ₹ 6,207 ₹ 20,276 ₹ 9,16,969 8.30%
2023 ₹ 1,76,332 ₹ 66,985 ₹ 2,43,317 ₹ 7,40,637 25.94%
Jan ₹ 14,163 ₹ 6,113 ₹ 20,276 ₹ 9,02,805 9.72%
Feb ₹ 14,258 ₹ 6,019 ₹ 20,276 ₹ 8,88,548 11.15%
Mar ₹ 14,353 ₹ 5,924 ₹ 20,276 ₹ 8,74,195 12.58%
Apr ₹ 14,448 ₹ 5,828 ₹ 20,276 ₹ 8,59,746 14.03%
May ₹ 14,545 ₹ 5,732 ₹ 20,276 ₹ 8,45,202 15.48%
Jun ₹ 14,642 ₹ 5,635 ₹ 20,276 ₹ 8,30,560 16.94%
Jul ₹ 14,739 ₹ 5,537 ₹ 20,276 ₹ 8,15,821 18.42%
Aug ₹ 14,838 ₹ 5,439 ₹ 20,276 ₹ 8,00,983 19.90%
Sep ₹ 14,937 ₹ 5,340 ₹ 20,276 ₹ 7,86,046 21.40%
Oct ₹ 15,036 ₹ 5,240 ₹ 20,276 ₹ 7,71,010 22.90%
Nov ₹ 15,136 ₹ 5,140 ₹ 20,276 ₹ 7,55,874 24.41%
Dec ₹ 15,237 ₹ 5,039 ₹ 20,276 ₹ 7,40,637 25.94%
2024 ₹ 1,90,967 ₹ 52,350 ₹ 2,43,317 ₹ 5,49,670 45.03%
Jan ₹ 15,339 ₹ 4,938 ₹ 20,276 ₹ 7,25,298 27.47%
Feb ₹ 15,441 ₹ 4,835 ₹ 20,276 ₹ 7,09,857 29.01%
Mar ₹ 15,544 ₹ 4,732 ₹ 20,276 ₹ 6,94,313 30.57%
Apr ₹ 15,648 ₹ 4,629 ₹ 20,276 ₹ 6,78,665 32.13%
May ₹ 15,752 ₹ 4,524 ₹ 20,276 ₹ 6,62,913 33.71%
Jun ₹ 15,857 ₹ 4,419 ₹ 20,276 ₹ 6,47,056 35.29%
Jul ₹ 15,963 ₹ 4,314 ₹ 20,276 ₹ 6,31,094 36.89%
Aug ₹ 16,069 ₹ 4,207 ₹ 20,276 ₹ 6,15,025 38.50%
Sep ₹ 16,176 ₹ 4,100 ₹ 20,276 ₹ 5,98,848 40.12%
Oct ₹ 16,284 ₹ 3,992 ₹ 20,276 ₹ 5,82,564 41.74%
Nov ₹ 16,393 ₹ 3,884 ₹ 20,276 ₹ 5,66,172 43.38%
Dec ₹ 16,502 ₹ 3,774 ₹ 20,276 ₹ 5,49,670 45.03%
2025 ₹ 2,06,817 ₹ 36,499 ₹ 2,43,317 ₹ 3,42,852 65.71%
Jan ₹ 16,612 ₹ 3,664 ₹ 20,276 ₹ 5,33,058 46.69%
Feb ₹ 16,723 ₹ 3,554 ₹ 20,276 ₹ 5,16,335 48.37%
Mar ₹ 16,834 ₹ 3,442 ₹ 20,276 ₹ 4,99,501 50.05%
Apr ₹ 16,946 ₹ 3,330 ₹ 20,276 ₹ 4,82,555 51.74%
May ₹ 17,059 ₹ 3,217 ₹ 20,276 ₹ 4,65,495 53.45%
Jun ₹ 17,173 ₹ 3,103 ₹ 20,276 ₹ 4,48,322 55.17%
Jul ₹ 17,288 ₹ 2,989 ₹ 20,276 ₹ 4,31,035 56.90%
Aug ₹ 17,403 ₹ 2,874 ₹ 20,276 ₹ 4,13,632 58.64%
Sep ₹ 17,519 ₹ 2,758 ₹ 20,276 ₹ 3,96,113 60.39%
Oct ₹ 17,636 ₹ 2,641 ₹ 20,276 ₹ 3,78,477 62.15%
Nov ₹ 17,753 ₹ 2,523 ₹ 20,276 ₹ 3,60,724 63.93%
Dec ₹ 17,872 ₹ 2,405 ₹ 20,276 ₹ 3,42,852 65.71%
2026 ₹ 2,23,983 ₹ 19,334 ₹ 2,43,317 ₹ 1,18,869 88.11%
Jan ₹ 17,991 ₹ 2,286 ₹ 20,276 ₹ 3,24,862 67.51%
Feb ₹ 18,111 ₹ 2,166 ₹ 20,276 ₹ 3,06,751 69.32%
Mar ₹ 18,231 ₹ 2,045 ₹ 20,276 ₹ 2,88,520 71.15%
Apr ₹ 18,353 ₹ 1,923 ₹ 20,276 ₹ 2,70,167 72.98%
May ₹ 18,475 ₹ 1,801 ₹ 20,276 ₹ 2,51,691 74.83%
Jun ₹ 18,598 ₹ 1,678 ₹ 20,276 ₹ 2,33,093 76.69%
Jul ₹ 18,722 ₹ 1,554 ₹ 20,276 ₹ 2,14,371 78.56%
Aug ₹ 18,847 ₹ 1,429 ₹ 20,276 ₹ 1,95,523 80.45%
Sep ₹ 18,973 ₹ 1,303 ₹ 20,276 ₹ 1,76,550 82.34%
Oct ₹ 19,099 ₹ 1,177 ₹ 20,276 ₹ 1,57,451 84.25%
Nov ₹ 19,227 ₹ 1,050 ₹ 20,276 ₹ 1,38,224 86.18%
Dec ₹ 19,355 ₹ 921 ₹ 20,276 ₹ 1,18,869 88.11%
2027 ₹ 1,18,869 ₹ 2,789 ₹ 1,21,658 ₹ 0 100.00%
Jan ₹ 19,484 ₹ 792 ₹ 20,276 ₹ 99,385 90.06%
Feb ₹ 19,614 ₹ 663 ₹ 20,276 ₹ 79,772 92.02%
Mar ₹ 19,745 ₹ 532 ₹ 20,276 ₹ 60,027 94.00%
Apr ₹ 19,876 ₹ 400 ₹ 20,276 ₹ 40,151 95.98%
May ₹ 20,009 ₹ 268 ₹ 20,276 ₹ 20,142 97.99%
Jun ₹ 20,142 ₹ 134 ₹ 20,276 ₹ 0 100.00%
Leave Your Question

FREQUENTLY ASKED QUESTIONS

The documentation required for the loan includes identity proof, address proof, income proof, property documents, and bank statements.

The repayment period for the loan is up to 15 years.

The maximum loan to value ratio for the loan is up to 70%.

Yes, it is possible to transfer an existing home loan to Cholamandalam.

Cholamandalam offers loan against property based on the borrower's repaying capacity and credit profile.

Borrowers who wish to pre-close their Cholamandalam loan against property can do so at any point during the loan tenure. Pre-closure of the loan is subject to terms and conditions, and the borrower may have to pay a pre-closure fee

Loan repayment is possible through EMIs (equivalent Monthly installments).

Equated Monthly Instalment (EMI) is the sum that you will pay each month to pay back your loan during the allotted loan duration.

To determine the EMI that you could be repaying each month against the loan, you can use any online loan EMI calculator. You must provide the following information while trying to use the calculator:

  • The amount of the loan in full

  • Flat interest rate

  • Duration (in months)

  • You will receive the resultant (approximate) EMI amount that you must make payments on each month.

The following payment methods are available for paying the EMI amount:

  • Using your loan agreement number, make a cash payment at the nearby branch.

  • Pay at the nearby branch with a check or DD and the loan agreement number.

Once your paperwork is determined to be in order, the loan processing procedure typically takes 5-7 working days.

To change your contact information, get in touch with the branch or head office that is closest to you. You must complete a form and provide documentation of your address.

A Loan Against Property (LAP) is a secured financial product that enables people to borrow money for a variety of objectives, including company development, education, or personal needs, by using the value of their owned property, whether it be residential or commercial.

As part of the procedure, you provide the lender with your property as security as a guarantee for a loan amount. Before deciding on the loan amount, the lender considers the worth of the property, your ability to repay the loan and other elements. Because the loan is secured, interest rates are often lower than for unsecured loans.

The use of a Loan Against Property is flexible. The money may be used by borrowers for a variety of things, including paying for higher education, establishing or expanding a business, paying off debt, covering wedding costs, and more. It offers a flexible payment option because consumption is not restricted.

Although LAP has many advantages, it's crucial to be aware of the hazards as well. In the event of missed payments, the lender may seize the property. In order to choose a loan amount that can be readily repaid during the loan term, consumers need to carefully evaluate their capacity to make repayments.

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