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Our Loan Against Property
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EMIWe understand that life can be hard at times. We can ease it financially by giving you an EMI break when you most need it:
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It is a loan against fully constructed, freehold residential and commercial properties for: Personal and Business Needs (other than for speculative purposes) like marriage, medical expenses and child's education etc. Existing Loan Against Property (LAP) from other banks and financial institutions can also be transferred to Godrej Housing Finance.
For Existing Customers, the principal outstanding on all existing loans and the Loan Against Property being availed should not cumulatively exceed 60% of the Market Value of the mortgaged property as assessed by Godrej Housing Finance. You can get funding upto 70% of the property Value depending on your segmentation and the property type.
Loan Against Property (LAP) can be availed by both salaried and self-employed individuals for personal and professional needs (other than for speculative purposes) like marriage, Child's education, business expansion, debt consolidation etc.
You can avail a loan against property for a maximum term of upto 20 years or till your age of retirement, whichever is lower.
Security of the loan would generally be security interest on the property being financed by us and/or any other collateral/interim security as may be required by us.
Yes, Loan Against Property (LAP) can be availed against a fully constructed and freehold commercial properties.
Click here to know the documents required for a Loan Against Property. For applicable Fees & charges, refer Schedule of Charges.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective; NACH offers a fast and efficient clearing platform. The NACH debit mandate is used by GHF to automatically deduct monthly instalments from your bank account for the loan availed.
Two ways to cancel your NACH mandate are:
You need to mention the Loan Account Number (LAN) in the request, and our team will connect with you within 48 hrs.
Design your EMI–LAP (DEMI-LAP) is loan against property offered to Self-employed borrowers where customers are given the flexibility to pay only interest for up to 36 months followed by incremental EMI for the remaining tenor.
Design your EMI under LAP offers you the flexibility to opt for lower instalments in the initial years of your loan repayment. This helps you in better cash flow management and the additional liquidity can be utilised towards your business requirements during this period.
There are certain eligibility criteria that needs to be fulfilled for availing DEMI-LAP loans. If you want to avail DEMI-LAP, please state the same while applying for your GHF LAP loan.
₹ 5 crores
Self-occupied residential and self-occupied commercial properties will be accepted.
Eligibility of the case will be calculated basis customer’s income and property valuation, age, tenure opted. Tenor considered for eligibility calculation on complete loan tenor including DEMI period.
Complete Loan Tenor can be up to 25 years. Customer can choose to pay only interest for up to 36 months.
A comparison of Normal Loan EMI and EMI in DEMI–LAP for 10yrs, 15yrs and 20yrs loan tenor is explained below:
| Loan amount in Lacs | 100 | 100 | 100 |
| ROI (p.a) | 8.25% | 8.25% | 8.25% |
| Tenure - months | 120 | 180 | 240 |
| Regular EMI - if DEMI is not opted | 122653 | 97014 | 85207 |
| DEMI period where only Pre-EMI will be paid | 6 | 18 | 36 |
| Pre EMI – if DEMI LAP is opted | 68750 | 68750 | 68750 |
| EMI after Pre-EMI period – if DEMI LAP is opted | 126826 | 102548 | 91321 |
Yes, customer can make part-prepayment during and post Interest only period.
Once the loan is disbursed, customer cannot switch from DEMI-LAP to Regular LAP.
Yes, standard foreclosure charges for LAP loans would be applicable on Demi-LAP loans as well.
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