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About Loan Against Property

Loan against Property refers to the secured loan category, where the borrower gives security by using his property as a security. The right of ownership of the property is still with the borrower, and if he/she is unable to repay the loan amount, the lender can sell the property to recover the debt.

By providing loan against property, the company is helping SMEs to prosper and establish a strong presence in the Indian market. Over the years, Ovington Finance has acquired immense financial and technical finance. This has helped it to spread its wings all over the National Capital Region. Today, Ovington Finance operates in all the regions of Delhi including East Delhi, West Delhi, North Delhi and South Delhi. Apart from this, the company is also offering services in Ghaziabad, Faridabad, Noida, Greater Noida, etc.

Typically these loans are used to start or expand business, start the new business and renovate your house. But it can also be used to repay existing high rate loans.

  • The maximum loan amount. It could range from Rs.2 lacs up to Rs.30 lacs. The exact amount depends on your property valuation, income and of course repayment capacity.
  • The rate of interest is usually dependent on one's profile and the OFPL criteria,

  • The maximum loan amount can come up to 50% of property value for commercial setups and up to 60% for residential properties.
  • The maximum age limit of eligibility is 60 years. which is relaxable on case to case basis.

  • OFPL does not accept properties that are on lease or that are based on power of attorney.
  • The maximum loan tenure is 7 years.

  • A processing fee is usually 0.05% to 3% of the loan amount and is payable upfront. This fee is payable at the time of disbursement of loan.
  • You pay your loan in EMIs through Website Online Portal, post-dated cheques and through ECS to debit your Bank account through ECS with the EMI amount.

  • Apply for loan

    Loan Against Property Benefits

    Achieve all your goals and aspirations; with the right kind of help, exactly when you need it.

  • Purchase of Raw Materials, Machineries and Equipments.
  • Ovington Finance offers you loan against property for your purchase of Raw Materials, Machineries and Equipments.

  • Undertaking of Capital Expenditure for capacity expansion.
  • Apply now for loan against property for undertaking expenditure in capital.

  • Renovation of existing infrastructure.
  • Get the funds for the expenditure involved in renovation of existing infrastructure.

  • Financial planning of your existing loan liabilities.
  • Use Loan Against Property for planning your existing loan liabilities.

    Get financing for whatever you need now

    Enquire Now

    Features of Loan Against Property

    We're in business to help your businesses!

    Faster Loan

    Quick and hassle free loans with speedy approvals.

    Choose your amount

    Loan amount ranging from Rs. 2 lacs to Rs. 30 Lacs. Loans available against residential as well as commercial properties.

    Enjoy the best rates

    Personalized Doorstep Service. Higher loan amount available for longer tenure and at attractive rates.

    Decide your tenure

    Funds all your needs such as expansion of existing business, purchase of property, etc. Ease of repayment through flexible loan tenure.

    Loan Against Property - Eligibility

    The eligibility of Loan against Property is calculated on the basis of either the percentage of property value that you own and how much income you have that you can return the EMI with.So you can get Loan against property upto annex % of property value and the net amount that you earn after other EMI a percentage of that amount can go into the EMI.


    Loan against Property is given on below mentioned properties and the % that you can get loan is listed below.

    Property:

  • Residential Property:
  • Self Occupied – 65%
    Vacant – 60%

  • Commercial Property:
  • Self Occupied – 55%
    Vacant - 45%

    Eligible Loan Amount:

  • For Salaried:
  • {(NTH - Obligation) * 60%} / EMI per Lac

  • For Self-Employed:
  • {(NTH - Obligation) * 60%} / EMI per Lac

    Age:

  • For Salaried
  • 60 years

  • For Self Employed
  • 70 years

    Whichever is lower from the value of the property or your income- that loan amount will be given to you.

    Get a Quote

    Now apply for Loan Against Property online, All you need to do is provide your details below application form.

    New Customers


    If you do not have an existing account with Ovington Finance, you can apply online through our secure online application.

    Existing Customers


    If you already hold an account or product with Ovington Finance, you can login and update your loan application status.