Personal Loan(Secured)

Get higher loan amounts at affordable interest rates with your property as security

Introduction

A Secured Personal Loan, also known as Loan Against Property (LAP), allows you to unlock the value of your residential or commercial property without selling it. Whether it’s for medical expenses, education, business expansion, or personal needs, this loan offers a safe, affordable, and convenient way to access large funds.

Features & Benefits

Higher loan amount eligibility

Lower interest rates than unsecured loans

Long and flexible repayment tenure

No restrictions on end use

Use residential or commercial property as collateral

Quick approval with proper documentation

Eligibility Criteria

Citizenship: Applicant must be an Indian resident

Age:
- Minimum: 21 years
- Maximum: 58–60 years (at loan maturity)

Employment type:
- Salaried (private, public sector, or government employee)
- Self-employed professionals / business owners

Minimum income:
- Salaried: Generally ₹15,000 – ₹25,000 per month (varies by bank & city)
- Self-employed: Stable income with regular profits
Work experience:
- Salaried: Minimum 6–12 months in current job
- Total experience: Usually 1–2 years
Credit score (CIBIL):
- Preferred 700 or above
Banking history:
- No major loan defaults or recent settlements
Residence stability:
- Living at current address for at least 1 year
Debt-to-income ratio:
- Existing EMIs should generally not exceed 40–50% of monthly income
Documentation:
- Valid KYC (Aadhaar, PAN, address proof)
- Income proof (salary slips / IT returns / bank statements)

Documents Required

Loan Application Form (duly filled and signed)
Identity Proof (any one):
- Aadhaar Card
- PAN Card (mandatory for loans above prescribed limits)
- Passport
- Voter ID
- Driving Licence
Address Proof (any one):
- Aadhaar Card
- Passport
- Voter ID
- Driving Licence
- Utility bill (electricity/water/telephone – recent)
- Registered rental agreement
Age Proof:
- Aadhaar Card
- PAN Card
- Passport
- Birth Certificate (if required)
Income Proof:
For Salaried Individuals:
- Last 3–6 months salary slips
- Last 6 months bank statements
- Form 16 or latest Income Tax Return (ITR)
For Self-Employed Individuals:
- Last 2–3 years ITR with computation
- Profit & Loss statement and Balance Sheet
- Last 6–12 months bank statements
Employment Proof:
- Employment ID card or appointment letter (salaried)
- Business registration / GST certificate / trade licence (self-employed)
Photographs:
- Recent passport-size photographs
Credit-related Documents (if applicable):
- Existing loan statements
- Credit card statements

Comparison of Personal Loan Rates and Fees

Bank	Interest Rates	Processing Fees
Allahabad Bank	10.50% to 12.99%	1.60% of the Loan Amount
Andhra Bank	11.55% to 13.05%	As offered by the lender
Axis Bank	10.75% to 24%	1.50% to 2.00 % + GST
Bajaj Finserv	Starting from 12.99%	Up to 3.99% of the loan amount
Bank of Baroda	11.35% to 16.35%	2% of the loan amount
Bank of India	Starting from 13.10%	One time @ 2.00% of loan amount
Bank of Maharashtra	Starting from 12.5%	1.00% of the Loan Amount
Canara Bank	13.00% to 16.50%	0.5% of the Loan Amount
Central Bank	MCLR (12M) + 3.00%	Rs 500 + S.T
HDFC Bank	10.25% to 21.50%	Up to 2.50% of the loan amount
HSBC Bank	9.75% to 17.84%	Up to 1% of the disbursed loan amount
ICICI Bank	10.50% to 19.25%	Up to 2.25% per annum of loan amount
IDBI Bank	Starting from 12%	1% of the Loan Amount
Kotak Mahindra Bank	10.29% to 19.99%	Up to 2.5% of the loan amount + GST
State Bank of India	Starting from 11%	1% of the loan amount
RBL Bank	Starting from 12%	4% of the loan amount
IDFC First	Starting from 10.5%	Up to 2% of the loan amount
Union Bank of India	Starting from 14.40%	0.50% of the total Loan
Yes Bank	Starting from 10.75%	Up to 2.50% of the loan amount
TATA Capital	Starting from 10.25%	Up to 2.5% of the loan amount + GST

Why Choose M M Loans?

Personal Loan(Secured)

Comparison of Personal Loan Rates and Fees

Apply Now for a Secured Personal Loan

Quick Links

Service