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Loan on plot

About Loan on plot

Know about taking loan on Plot at Loanzbazar

A loan on a plot means taking money from a money lender to purchase land. Equated monthly instalments can be used to repay money which is a certain amount you pay until all loan is paid completely

Investing in land and plots has always been considered a wise decision. A plot loan is, therefore, borrowing money from a loan provider to buy a plot. The return on investments on plots is often very high. Some people make their houses on the plots they buy, some resell them and some use them for various other purposes like agriculture, setting up an office etc.

At loanzBazar applying for a loan on a plot is easier, simpler and convenient for everyone. With flexible repayment policies and a low-interest rates, it is one of the most popular loans.

Loan Amount

25,000

25,00,000

Rate of interest

11.00%

36%

Loan Tenure

6 Months

72 Months

Calculated EMI*

Fastest loan on plot approvals

You can get your loan on plot approved within 7-15days. If all your documents are handy and you pass all the conditions laid by the bank your loan can be approved within 2-3 days with Loanzbank.

Check Loan Eligibility at loanbazar

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What makes LoanzBazar best for loans on plots?

Making LoanBazar your first choice for a loan:

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Fastest loan disbursal

LoanzBazar guarantees the fastest loan approval and transfers within 1-7 days after screening the required documents and your application.

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Pay at your pace

With the fastest and most convenient loan approvals, LoanzBazar always offers options for repayment in EMIs. You get to pay any way you want after 6 months of the loan transfer.

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Take huge loans in one-go

At LoanzBazar you can take a loan from anywhere between Rs 50,000 to Rs 10,00,000 and use it to purchase a plot.

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Repay anytime you can

You can repay your loan amount with interest within 25 years by opting for LoanzBazar’s services.

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Fewer documents necessary

When you are opting to take a loan with LoanzBazar you won’t be worrying about documents.

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No extra fees

The loan process at LoanzBazar is completely transparent. You do not need to pay any processing fee or other charges while applying for a loan on plot.

Documents to Apply for a Loan on plot

When applying for a personal loan, you will need to submit the following documents:
  1. PAN Card
  2. Identity proof (Aadhaar Card, Driving licence, Passport, Voter ID, etc.)
  3. Signature Proof (Passport, PAN card, etc.)
  4. Address proof (Passport copy, Aadhaar card, driving licence, utility bill – gas or electricity bill, Voter ID ,ration card, rent agreement, etc.)
  5. Bank statements of the past 6 months
As a salaried individual, you additionally need to submit the following:
  • As a salaried individual, you additionally need to submit the following:
  • Income Tax Returns for the last 2 years
  • Business proof (License, registration certificate, GST number)
  • IT Assessment OR Clearance Certificate
  • Income Tax Challans OR TDS Certificate (Form 16A) OR Form 26 AS for income declared in ITR
Please note that depending on your individual profile and Fullerton India’s policy at the time of loan application, additional documents may be requested.

Loanbazar Loan on plot Eligibility

  • You must be a Salaried Employee
  • Age: 23-55 years old
  • Net Monthly Income must be more than Rs. 20,000.
  • No defaults in the last 24 months.
  • You must be residing in Delhi/NCR, Bangalore, Pune, Chennai,Mumbai or Hyderabad.

Why do people take a loan on plot?

There are many ways in which people can spend their loans on plots. These are common loans at LoanzBazar which can be used to build apartments, flats, offices, practice agriculture or start shops on the plot.

Flexible Repayment options

Final installment options for a loan will be decided based on your profile and inputs.

Loan on plot

Repayment done via Fixed Equated Monthly Installments, where EMI=Principal + Interest. Each Installment reduces both interest and Principal amount. Ideal when: You know the precise Loan Amount needed and your income is consistent.

How to apply

Avail our personal loans through your preferred platform and enjoy unmatched convenience at your fingertips…

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Via Website

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Via Our App

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Via WhatsApp

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Via Call

Compare Loan on Plot Rate of Interest in Mumbai, Pune, Thane, Navi Mumbai, Delhi, Bangalore

Interest rates in different banks differ but aren’t any major difference. The interest rate in Maharasthra bank is the lowest at 6.40%-7.60% while it is the highest at 8.10% -10.60%.

Bank Name Rate of Interest for Salaried Employee
HDFC Bank 10.99% - 17.85%
Axis Bank 11.99% to 24%
ICICI Bank 10.99% - 17.85%
Standard Chartered Bank 11% - 16%
IndusInd Bank 14% - 16%
Kotak Bank 11.50% - 24.00%
Bajaj Finance 14.25% - 16.75%
HDB Finance 14% - 21%
Fullerton Finance 13.00% - 24.00%
State Bank of India 11.00% - 17.65%
IDFC Bank 10.99% - 17.85%
IDFC Bank 10.99% - 17.85%
Tata Capital 13.50% - 18%
Yes Bank 12.50% - 16.00%

FAQs

A plot loan is given for a plot with no constructed building while a home loan is specifically sanctioned for a land where a building is either being made or will be constructed.

It depends on you, if you want to buy a land go ahead and do that. However, plot loans do not have tax benefits, have less loan to value ratio, and have less repayment tenure.

Yes, you can make easy payments on your loan through EMI.

No, there are no fixed criteria to apply for a loan on the plot. However, you have to be an Indian citizen between the age of 18-65 years.

Yes, you can use your plot for any purpose you want to use it.