What is the processing time for a loan against property?

The processing time for a loan against property can range from 3 to 15 working days on average. However, it depends on certain factors, such as your profile, the loan provider you have applied with, and the completeness of your documents.

Typically, the loan against property application process involves the financial institutions valuing your property, legal and technical assessment, income verification, CIBIL score check, etc. Many banks today also have simplified digital processes, which help in faster approval.

If your documents are complete, there are no legal hassles on the property, the loan provider is satisfied with your repayment capacity based on your credit score, income, existing liabilities, etc., then the loan can get approved within a few working days, depending on the lender’s policy.

For a smooth and quick approval, ensure you submit all documents the lending institution requires upfront. Also, clarity and transparency about property ownership and existing loans, if any, must be maintained. Many financial institutions today also have pre-approved offers for existing customers, allowing approval in 2-3 working days.