Debt Consolidation Loan
Consolidate all your loans and manage finances effectively
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As an entrepreneur, you want to spend all your time in growing your business, not in unproductive tasks such as dealing with multiple creditors or streamlining loan repayments.
Over time, businesses accumulate debt from multiple sources, with varying repayment terms and interest rates. This can prove costly for your business if not managed well. That's why a Loan Against Property from Piramal Finance is a great option to consolidate and streamline your debt.
With loan amounts ranging from ₹ 25 lakh to ₹ 3 crore, you can easily pay off your multiple sources of debt and enjoy our competitive interest rates and flexible repayment terms.
You can take a debt consolidation loan against commercial, residential or industrial property.
A dedicated relationship manager will help your with all the formalities and ensure a quick closure on documentation and loan processes. Thanks to our comprehensive assessment, you can expect higher eligibility and loan amounts.
However, Director of listed Public companies will be treated as Salaried
Interest Rate | |
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Customer Type | Rates |
Salaried / Self Employed | Interest Rates starting from 11.5%* p.a |
Fees & Charges | |
Fees & Other Charges as applicable on application/ during the term of Loan are as under. These are subject to modifications from time to time as decided by Lender as per its internal policy and any such modification shall be notified by the Lender through its website or its branches or such other medium as Lender may consider appropriate | |
Schedule of Fees & Other Charges | Details |
Processing Fees |
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Part Payment/Pre-closure charges |
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Loan repayment instrument dishonour charges | ₹ 500/- + applicable taxes |
CERSAI charges | ₹ 500/- + applicable taxes |
Loan Pre-closure Statement | ₹ 1000/- + applicable taxes |
List of documents deposited with the Lender | ₹ 500/- + applicable taxes |
Loan Repayment Schedule | ₹ 500/- + applicable taxes |
"Re-scheduling Loan terms (e.g. EMI Date change / EMI increase /Lowering of Tenor" | ₹ 5000/- + applicable taxes |
No Due Certificate issuance charges | 1st time free; subsequently ₹ 500/- + applicable taxes |
Statement of Account | Free once a year; subsequently ₹ 500 + applicable taxes |
Photocopy of documents | ₹ 500/- + applicable taxes |
Retrieval of original property documents | ₹ 500 + applicable taxes |
Additional Charges | 2% p.m. on Outstanding Amount for the non-compliance of any terms and conditions of the Transaction Documents by the Borrower, for the period beginning the date of such noncompliance until the same is cured to the satisfaction of the Lender + applicable taxes |
For detailed fees & charges and other Terms & Conditions click here |
Application form with a recent photograph
Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases
Application form with a recent photograph
Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases
The loan you take by keeping a self-owned property as collateral is called a Loan Against Property (LAP) or a secured loan. The value of the property determines the amount of loan that can be sanctioned. The property will be owned by the lenders if you are unable to pay the loan.
Lenders look at your repayment capability and asses your eligibility based on your income, age, employment stability, and other assets and liabilities. The loan doesn’t exceed more than 60% of the property market value. With a co-applicant, a higher amount can be lent.
With a loan on property, you can use it for any purpose, similar to a personal loan. From renovating your home, starting a business, funding medical expenses or even going on a long vacation, you can take a loan to fulfil all your needs.
You can avail loan on property using
The necessary documents for a loan against property are (may vary for salaried and self-employed professionals):