Mortgage lending in India: application to disbursement
How a home loan moves from application to fund-out in India: the steps for the customer and the lender, and the legal and technical checks in between.
A home loan is the largest loan most Indian households ever take, and the one where the lender looks at the most things: the borrower's income, the property's legal history, its physical condition and its resale value. This deep dive follows a loan from first enquiry to the day money reaches the seller, step by step, from both sides of the table, the customer's and the lender's. It covers what the banks and the non-bank housing finance companies (HFCs) have in common, where they differ, which rules shape each step, and how the legal and technical valuation checks work. It also gives an overview of loans against property for small businesses, and covers what happens when repayment stops.
A note on evidence before we start. Most of what is public about the process comes from lender websites, consumer guides and law-firm summaries, with fewer primary RBI texts reachable than we would like. Where a number comes from a secondary source, or sources disagree, we say so. Treat every threshold below as a guide and confirm it against the lender's sanction letter and the current RBI notification, because lenders set their own policies within the regulator's limits.
Current situation
The size of the market. ICRA's January 2026 report estimates the combined on-book home loan portfolio of HFCs, NBFCs and banks at Rs 40.8 lakh crore on 30 September 2025, up 10 per cent on a year earlier. A Business Standard headline reports ICRA expecting retail mortgage loans of NBFCs and HFCs to reach Rs 20 trillion by FY28; we saw only the headline, so the assumptions behind it are not confirmed here.
Who holds the loans. Banks hold most of the book. One report puts banks at 74.5 per cent and HFCs at 19 per cent of individual housing loans at 31 March 2024, and another analysis gives 81 and 19 per cent for September 2024. A third source puts the HFC share nearer 32 to 33 per cent, which is likely a different base, such as all housing credit and not only individual loans. The sources do not explain the gap, so quote the share together with its definition and date.
The affordable segment. ICRA estimates that affordable housing finance companies made up about 15 per cent of the HFC on-book portfolio at 31 March 2026, up from 11 per cent in March 2021, and expects their assets under management to grow 19 to 21 per cent in FY2027. It also estimates that bank borrowing and National Housing Bank refinance together funded 59 per cent of these lenders' borrowings at March 2026, with capital markets playing a limited role. Funding matters to the story that follows, because a lender that borrows money to lend it cannot afford loose underwriting.
Who sets the rules
Home loans sit under several layers of law and regulation, and it helps to separate them.
Layer · What it governs · ExamplesRBI, for banks and NBFCs including HFCs · Lending norms, loan-to-value limits, pricing, fair practices · Housing Finance Companies Directions 2025, prepayment charges directions, digital lending rules
National Housing Bank · Refinance, and earlier housing finance circulars still cited · NHB circulars on valuation and legal due diligence
Property and registration law · Ownership, transfer and charge on property · Registration Act, state stamp duty laws, Transfer of Property Act
RERA and local authorities · Under-construction projects, approvals, occupancy · State RERA registration, sanctioned plans, occupancy certificate
SARFAESI Act 2002 · Enforcement of security without going to court · Demand notice, possession, auction
Credit information law · Reporting to credit bureaus · Bureau reporting, borrower consent
The key rules that touch an individual home loan are these. We took them from secondary sources, since the RBI text was not directly reachable, so verify them.
Loan-to-value (LTV) limits. One summary of the Housing Finance Companies Directions 2025, said to be dated 28 November 2025, repeats the tiers that earlier HFC rules carried: a cap of 90 per cent for loans up to Rs 30 lakh, 80 per cent for Rs 30 to 75 lakh, and 75 per cent above Rs 75 lakh. RBI's own listing of the 2025 document carried a "draft for comments" label when we looked, so the final wording could differ.
Prepayment. The RBI's Pre-payment Charges on Loans Directions, 2025, effective 1 January 2026, bar regulated entities, including NBFCs, from charging prepayment penalties on floating-rate loans to individuals for non-business purposes. They apply to loans sanctioned or renewed on or after that date. Fixed-rate loans may still carry a charge, which must be disclosed upfront in the sanction letter, the loan agreement and the Key Fact Statement. For hybrid loans, the exemption applies if the loan is floating when it is prepaid.
Key Fact Statement (KFS). A standard one-page statement of rate, fees, charges, tenure and total cost, to be given before the borrower signs.
Rate resets. Since October 2019 new floating-rate retail loans from banks are linked to an external benchmark, usually the repo rate, with a reset at least every three months and a spread that stays fixed. The sources we found were about banks, and did not say how this applies to HFCs. A report of RBI draft directions from August 2026 says every floating-rate loan would reset within three months from 1 April 2027. It is a draft, so check its status.
What is this research about?
This deep dive follows one loan through the ten stages below and explains the check at each one. The table lays out the whole path, and each stage is then explained.
Stage · The customer · The lender (bank or HFC)1. Enquiry and eligibility · Shares income, obligations and a target loan amount · Estimates eligibility, may issue an indicative offer
2. Application and KYC · Fills the application, submits identity, address and income proofs · Verifies identity, runs checks, opens the file
3. Credit appraisal · Provides bank statements, salary slips or business records · Pulls the credit report, assesses income and repayment capacity
4. Property documents · Gets the seller or builder to provide title and approval papers · Starts legal and technical review
5. Technical valuation · Allows access to the property · Empanelled valuer inspects and values it
6. Legal verification · Responds to queries on documents · Panel lawyer checks title, encumbrances and approvals
7. Sanction and agreement · Reviews the sanction letter and Key Fact Statement, signs · Issues sanction, prepares the loan agreement
8. Security creation · Executes the mortgage, pays stamp duty and charges · Creates and records the mortgage
9. Disbursement · Pays the margin money, meets conditions · Releases funds, usually directly to the seller or builder
10. After disbursement · Pays EMIs, submits remaining documents · Collects documents, tracks repayment, reports to bureaus
### Steps 1 to 3: how much can you borrow?
The lender first asks whether the borrower can afford the loan. The main measure is the fixed obligation to income ratio (FOIR): the share of monthly income already committed to loan repayments after the new EMI is included. Sources we saw put typical FOIR limits at 50 to 60 per cent of income, with lenders differing, and many apply stricter limits to lower incomes. A credit score is also checked. A score of 750 or above is a common benchmark for the best rates, though some lenders approve lower scores at higher rates or with a co-applicant, and one public-sector bank lists a minimum of 650. Typical tenure goes up to 30 years, within a maximum age at maturity that is commonly set around 65 or lower.
Here is a worked example. A salaried borrower earns Rs 1.2 lakh a month and pays Rs 15,000 a month on an existing loan. The lender applies a FOIR limit of 50 per cent. Total obligations can reach Rs 60,000, so the new EMI can be at most Rs 60,000 − Rs 15,000 = Rs 45,000. At an illustrative 9 per cent over 20 years, every Rs 1 lakh of loan costs about Rs 900 a month, so Rs 45,000 supports about Rs 50 lakh of loan. Change the limit or the existing EMI below and watch the amount move.
How income is counted differs by customer. For salaried borrowers, salary slips and bank credits are the evidence. For the self-employed, lenders usually rely on tax returns, financial statements and bank statements, and some HFCs serving informal earners assess cash flow in other ways. This is one of the main practical differences between banks and the non-bank lenders that specialise in affordable housing, and also one of the main sources of credit risk.
Steps 4 and 5: technical valuation
Before sanctioning, the lender wants to know what the property is worth and whether it is what the papers say. Technical valuation is a physical inspection and valuation by an engineer or valuer on the lender's panel. Sources describe a visit to the property, a check of construction quality, approvals and comparable prices nearby, and a report. The report usually states several values, which tell the lender different things.
Value · What it means · Why the lender caresFair market value · The price a willing buyer and seller would agree in a normal sale · The base for the loan amount
Realisable value · What the property is expected to fetch when sold in reasonable time · A more cautious measure of security
Distress value · What it would fetch in a quick forced sale, lower because of time pressure · The recovery view if the loan fails
Book value · The value on the lender's or builder's records · Cross-check
The point most buyers miss is that the lender calculates LTV on the lower of the agreement price and the valuation, so a low valuation raises the down payment. Suppose the seller agrees a price of Rs 80 lakh and the valuer says Rs 76 lakh. The lender uses Rs 76 lakh. Under the 80 per cent tier, the largest loan is Rs 60.8 lakh, and the buyer must find Rs 19.2 lakh of their own money, plus stamp duty and charges, which is Rs 3.2 lakh more than at Rs 80 lakh on an 80 per cent basis.
Two controls aim at keeping valuations honest. Valuers are not meant to hold any direct or indirect interest in the property they value. And according to one summary of NHB's valuation circular, HFCs may use internal technical valuers with qualifications similar to those required of registered valuers, and loans of Rs 50 lakh or more require at least two valuation reports, one from an independent valuer. We could not open the circular itself, so verify it. Distress value is often quoted informally at about 70 to 80 per cent of market value, a rule of thumb from a lender site and not a regulatory formula.
Step 6: legal verification
The legal check answers a different question: does the seller have the right to sell, and will the lender get a clean claim on the property? A lawyer on the lender's panel examines the papers and writes an opinion. The usual checks, as lenders describe them, include the following.
Title and chain of ownership. The registered sale deed is the main proof of ownership, and the lawyer traces how the property passed from owner to owner, looking for gaps. One consumer guide describes tracing at least 30 years; the exact period is each lender's policy.
Encumbrance certificate. A state-issued record of registered transactions, showing whether the property carries a mortgage, attachment or other liability. State portals differ, for example DORIS and NGDRS in Delhi and HARIS in Haryana.
Court and tax issues. Pending litigation, attachments, unpaid property tax or society dues.
Approvals. For built properties, sale agreements, NOCs and local approvals, and an occupancy certificate. For under-construction projects, the lender also checks the project's approvals and registration and the builder's agreement.
Seller's authority. Power of attorney, family consents and, where relevant, society or builder permissions to mortgage the property.
An important point for buyers is that the bank's legal check protects the lender's loan, not necessarily the buyer, so an independent opinion before paying a token amount is worth considering.
### Step 7: sanction and the Key Fact Statement
Once the credit, technical and legal checks are done, the lender issues a sanction letter with the approved amount, rate, tenure, and conditions, and gives the Key Fact Statement. The loan agreement then covers EMI dates, interest type, prepayment terms and what counts as default. This is the moment to read the charges. Processing fees vary widely: one major lender's page shows 0.50 to 1.00 per cent of the loan amount, another lists 0.35 per cent, one public-sector bank lists none, and one non-bank lender's page lists charges up to 4 per cent plus GST. That range is wide enough to change the cost of a loan, so compare lenders on the Key Fact Statement and not on the headline rate alone.
Step 8: creating the security
The loan is secured by a mortgage, a legal claim on the property. In practice lenders use a registered mortgage or an equitable mortgage by deposit of title deeds, depending on the state and the property. The mortgage and stamp duty, which each state sets for itself, are paid by the borrower. The lender also records its charge on the central registry run by CERSAI, so that later buyers or lenders can see that the property is already mortgaged. One sample sanction letter we saw requires the sale deed and the equitable mortgage to be completed within six months of the sanction and recovers the registry fee from the borrower. The document is a single, undated example, so treat the six months as a lender term, not a rule.
Step 9: disbursement, the fund-out
Disbursement depends on the property type, and the differences matter for cash flow.
Ready-to-move-in or resale property. The lender usually releases the loan in one payment, once conditions are met, and typically pays the seller or builder directly, not the borrower. The borrower is expected to have paid the margin money first.
Under-construction property. The builder raises a payment demand, the lender verifies the stage of construction against the schedule, and releases the money in tranches linked to progress. Interest is charged on the amount released so far, and the full EMI starts later. We could not find a source that sets out how lenders handle the interim period, so ask what is charged during construction.
Before each release the lender typically checks that conditions in the sanction letter are met: margin money paid, documents executed, the property insured where required. After disbursement, remaining original documents are collected, and the lender tracks the loan.
How will this impact you?
For a borrower, the practical effects are about money, time and risk. Four points follow from the steps above.
Your down payment depends on the valuation, not the price you agree. A valuation below the agreement price shifts the gap to you. Ask the lender for the valuation before you pay a token amount.
Your borrowing limit depends on your other EMIs. Clearing a small loan before you apply can raise the amount a lender will give, because FOIR counts every fixed obligation.
The cost is in the Key Fact Statement. Fees range from nothing to several per cent of the loan, so compare lenders on the statement and not only on the rate.
Floating-rate loans sanctioned or renewed from 1 January 2026 carry no prepayment penalty for individuals borrowing for non-business purposes, so you can move or prepay without that cost.
What differs between banks and housing finance companies
The regulatory limits are broadly shared. The practical differences lie elsewhere, and where we state a general tendency below it comes from how these segments are commonly described, not from a single dataset.
Area · Banks · Housing finance companies and NBFCsFunding · Mainly deposits · Borrowings, bonds and refinance, so funding cost matters more
Typical customer · Salaried, formal income · A wider mix, including self-employed and informal earners, especially in affordable housing
Income assessment · Documented income · More use of cash-flow and field assessment
Branch presence · Large networks · Strong in specific regions and segments
Rate and fees · Often lower headline rates · Rates and fees vary more, so read the Key Fact Statement
Regulation · RBI · RBI, with NHB refinance and earlier NHB circulars
### Loan against property for MSMEs and SMEs: an overview
A loan against property (LAP) uses the same security, a mortgage on real estate, but the money goes to the business, not to buying the house. Owners of micro, small and medium enterprises (MSMEs) pledge a shop, office, factory or home they already own and borrow for working capital, equipment or expansion. The steps above still apply: appraisal, valuation, legal check, sanction, mortgage and disbursement. What changes is the repayment source, which is the business's cash flow, and so the lender looks harder at the business than at the property.
Area · Home loan · LAP for MSMEs and SMEsPurpose · Buy or build a home · Any business use: working capital, machinery, expansion
Repayment source · Salary or personal income · Business cash flow, from tax returns, GST returns and bank statements
Property · The home being bought · A property the borrower already owns: residential, commercial or industrial
Loan-to-value · Up to 75 to 90 per cent in the reported tiers · Lower: 50 to 70 per cent in the pages we saw
Rates · Generally lower · Wider and higher range
Disbursement · To the seller or builder, in one payment or tranches · To the borrower or business account, usually one payment
The figures we found, all from lender pages that differ by date and product, give an idea of the range.
Loan-to-value. SBI's commercial real estate loan is set at 50 per cent of the property's realisable value. Indian Bank's MSME LAP page says 60 per cent, with up to 70 per cent in margin-relaxation cases. SMFG India Credit lists up to 70 per cent for residential and 60 per cent for commercial property. Commercial property gets a lower share because it is harder to resell.
Rates and tenure. Indian Bank lists 8.15 to 8.75 per cent, SMFG India Credit 9 to 24 per cent, so the price depends heavily on the lender and the borrower. Tenures run from 1 to 15 years at SMFG and LTFS, and up to 20 years at IndusInd Bank.
Eligibility. Indian Bank asks for an Udyam Registration Certificate, and SMFG requires the business to be at least two years old with two years of audited profits. SBI requires the property to be eligible for enforcement under the SARFAESI Act and to belong to the unit, its proprietor, partners or directors, or their near relatives.
Valuation and legal verification raise extra questions for commercial or industrial property: land use and any conversion from agricultural use, the building's approvals, and whether it is let out. The lender also records its charge on CERSAI and, if the loan fails, enforces through SARFAESI as described below.
The market. CRIF Highmark data cited by CARE Ratings put the MSME LAP market at Rs 11.3 lakh crore in September 2024, up from Rs 7.5 lakh crore two years earlier. In the smallest tickets, below Rs 10 lakh, NBFCs held about 45 per cent and private banks just over 25 per cent. In tickets above Rs 10 lakh, private banks led with 42 per cent against 37 per cent for NBFCs. We saw this through a search summary of the CARE note, so check the original. The same source says the smallest loans show higher delinquency, and CRISIL has flagged early stress in small-ticket LAP.
Alternatives. For small loans a property may not be needed at all. The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) guarantees collateral-free loans, and sources say the per-borrower limit rose to Rs 10 crore from 1 April 2025, with cover of up to 85 per cent. Sources conflict on the size of loan below which banks may not ask for collateral, citing Rs 10 lakh and Rs 20 lakh, so ask the lender. The guarantee protects the lender, and the borrower is still liable in full.
Two cautions. Pledging the premises that house the business puts both at risk from one cash-flow shock. And the prepayment-charge rule above covers floating-rate loans to individuals for non-business purposes; we did not confirm how it applies to business LAP loans, so check the sanction letter.
When repayment stops
If EMIs are missed, the lender's route to recover the money is set out in the SARFAESI Act 2002, which lets a secured lender enforce its mortgage without first going to court. The sequence, as the sources describe it, is as follows.
1. A loan not paid for 90 days is classed as a non-performing asset (NPA). A SARFAESI notice issued before the account is an NPA is described as void.
2. The lender sends a demand notice under Section 13(2) giving the borrower 60 days to pay.
3. The borrower can object under Section 13(3A), and the lender must give a reasoned reply within 15 days.
4. If the dues are unpaid after the 60 days, the lender can take possession under Section 13(4), first symbolically and then physically, and sell the property at auction.
5. The borrower can challenge this before the Debt Recovery Tribunal under Section 17, within 45 days of possession.
The process is slow and contested. Borrowers commonly challenge notices and auctions on technical grounds, though one Delhi High Court judgment in December 2025 reported in the sources upheld a bank's recovery rights. For the borrower, the practical lesson is to talk to the lender early. Many lenders offer restructuring or a change in tenure before the account reaches the demand notice stage, and the credit report records missed payments from the first one.
Current limitations
Valuation and legal checks protect the lender. A clean lender opinion is not a guarantee for the buyer, and the sources we saw said so directly.
Enforcement is slow and contested. SARFAESI avoids a civil suit, but notices and auctions are regularly challenged before the Debt Recovery Tribunal and the courts.
Fees and practices are uneven. Processing fees run from none to up to 4 per cent plus GST on the pages we saw, and practice on interim interest for under-construction loans is not set out in the sources.
Official data lags. The latest National Housing Bank report we found was the 2024 edition, which flagged regional disparities in housing finance, so current lender-by-lender figures are scarce.
Limitations and open questions
We could not read the final RBI text of the Housing Finance Companies Directions 2025, so loan-to-value tiers and other thresholds rest on secondary summaries, and the official listing we saw was marked as a draft.
We could not open the National Housing Bank valuation circular, so the rule on two valuation reports for loans of Rs 50 lakh or more is a summary and needs checking.
Sources disagree on the HFC share of the market, probably because of different bases. We do not know which is right.
We found nothing on how the external-benchmark and three-month reset rules apply to HFCs, or on how lenders charge interest during construction.
The loan against property figures come from a handful of lender pages and a search summary of a CARE Ratings note, with differing dates. The CGTMSE and collateral-free thresholds conflict across sources, and we did not confirm how the prepayment rule applies to business-purpose loans.
The 30-year title look-back, the six-month mortgage deadline and the 70 to 80 per cent distress-value rule come from a consumer guide, a single sample letter and a lender page, so they are lender practice and not rules.
What is coming next
NBFC outlook
Lenders outside the banks, which lend most of the loans against property and a large share of affordable home loans, face steady growth with tighter funding and some early stress. The sources below date from November 2025 to October 2026 and sometimes disagree, so newer reports should be given more weight than older ones.
Area · What the sources sayGrowth · Crisil expects NBFC assets to grow about 18 to 19 per cent a year and pass Rs 50 lakh crore by March 2027. ICRA's April 2026 view for retail NBFCs excluding HFCs was 16 to 18 per cent for FY27, raised to 18 to 20 per cent in July 2026, with gold loans as the driver.
Home loans · Crisil gives 12 to 13 per cent growth for home loans in one segment forecast and 18 to 19 per cent in another summary, so the figures conflict. LIC Housing Finance cut its FY27 loan growth guidance to 8 to 10 per cent from 10 to 12 per cent.
LAP and secured MSME · Crisil expects growth to ease to 26 to 27 per cent in FY26 and FY27, with lenders cautious on low-ticket loans.
Funding · Bank funding remains critical. External commercial borrowings have gained ground, and HFCs lean more on bond markets.
Asset quality · ICRA expects gradual improvement, with credit costs of 2.0 to 2.2 per cent in FY27. Crisil flagged rising early delinquency in vehicle finance, unsecured MSME loans and LAP.
Risks · ICRA's July update names the renewed conflict in West Asia as a downside risk to growth and asset quality.
For borrowers, the likely effect is selective lending: stronger lenders with cheap funding keep growing, while small-ticket LAP and affordable housing lenders watch delinquencies closely and may tighten income checks. We read these from news reports and summaries of the rating agencies' work, not the full reports.
The final text of the HFC Directions 2025. The loan-to-value tiers and other rules here come from secondary summaries, and the official listing we saw was marked as a draft.
Forecast and draft: the August 2026 draft on floating-rate resets, which would shorten the reset period to three months from 1 April 2027. Check whether it is finalised and whether it covers HFCs.
Effect of the no-prepayment-charge rule on how lenders price floating-rate loans, as borrowers can now switch more easily.
Asset quality in the affordable segment, where funding is tighter and incomes are less documented.
Key takeaways
A home loan passes ten stages, and the credit, legal and technical checks must all clear before sanction.
Affordability is set by FOIR, with sources putting limits at 50 to 60 per cent of income. The lender lends on the lower of the agreement price and the valuation, with reported loan-to-value tiers of 90, 80 and 75 per cent.
Legal verification protects the lender's security, so check title, the encumbrance certificate and approvals independently.
Money goes to the seller or builder, in one payment for ready property and in tranches for under-construction projects.
A loan against property runs the same legal and valuation checks, but repayment comes from business cash flow, and the reported loan-to-value is lower, at 50 to 70 per cent.
Floating-rate individual loans sanctioned from 1 January 2026 carry no prepayment penalty, and recovery under SARFAESI follows fixed steps from 90 days of non-payment.
Evidence assessment
We rate confidence as Medium. The shape of the process, with credit, technical and legal checks, a sanction, a mortgage and a disbursement, is described consistently by many lender and consumer sources. But the specific thresholds come from secondary summaries, the RBI's final 2025 HFC text was not read, market-share figures conflict, and several practices are lender policy and not rules. The evidence is therefore preliminary.
Suggested follow-up
Read the RBI's Housing Finance Companies Directions 2025 and the Pre-payment Charges Directions on rbi.org.in, the NHB circulars on valuation, and your lender's sanction letter and Key Fact Statement. Watch for the final form of the three-month reset draft.
Sources
[ICRA: Affordable Housing Finance research page](https://www.icra.in/Research/ViewResearchReport/7092)
[Business Standard: Retail mortgage loans of NBFCs, HFCs to cross Rs 20 trillion by FY28](https://www.business-standard.com/industry/banking/retail-mortgage-loans-nbfcs-hfcs-to-cross-rs-20-trillion-by-fy28-1250730014341.html)
[Ghar.tv: India's housing finance market set to reach INR 81 lakh crore by 2029](https://ghar.tv/blog/indias-housing-finance-market-set-to-reach-inr-81-lakh-crore-by-2029/artid2280)
[Fintax blog: RBI Housing Finance Companies Directions 2025](https://fintaxblog.com/rbi-housing-finance-companies-hfc-directions-2025/)
[Taxmann: RBI guidelines on pre-payment charges for loans](https://www.taxmann.com/post/blog/analysis-rbi-issues-new-guidelines-on-pre-payment-charges-for-loans)
[Bajaj Housing Finance: home loan disbursement process](https://www.bajajhousingfinance.in/resources/home-loan-disbursement-process)
[HomeFirst: encumbrance certificate and why it matters for a home loan](https://homefirstindia.com/blog/article/encumbrance-certificate-why-it-is-important-for-home-loan/)
[Bajaj Finserv: SARFAESI Act 2002 explained](https://www.bajajfinserv.in/sarfaesi-act-2002)
[CARE Ratings: MSME AUM for NBFCs to cross Rs 5.3 lakh crore by FY26](https://www.careratings.com/uploads/newsfiles/1747204836MSME%20AUM%20for%20NBFCs%20to%20cross%20Rs%205.3%20lakh%20crore%20by%20FY26.pdf)
[IANS: Indian NBFC assets to grow 19 pc to cross Rs 50 lakh crore by March 2027](https://ianslive.in/nbfc-assets-expected-to-grow-19-pc-to-cross-rs-50-lakh-crore-by-march-2027--20251124160343)
[Devdiscourse: banks, NBFCs to see resilient credit growth in FY27, ICRA](https://www.devdiscourse.com/article/business/3997994-indian-banks-nbfcs-to-see-resilient-credit-growth-in-fy27-on-steady-demand-strong-balance-sheets-icra)
[Business Standard: NBFCs face funding pressure despite healthy outlook, Crisil Ratings](https://www.business-standard.com/amp/industry/news/nbfcs-face-funding-pressure-despite-healthy-outlook-crisil-ratings-1251124007801.html)
[Indian Bank: MSME LAP](https://indianbank.bank.in/en/msme-lap)
[SBI: asset-backed loan, commercial real estate](https://sbi.co.in/web/business/sme/sme-loans/asset-backed-loan-commercial-real-estate)
[SMFG India Credit: loan against property for SMEs](https://www.smfgindiacredit.com/loan-against-property-for-sme.aspx)
[IndusInd Bank: loan against property](https://www.indusind.bank.in/in/en/personal/loans/loan-against-property.html)
[National Housing Bank: valuation circular, 2017](https://www.nhb.org.in/wp-content/uploads/2017/08/NHBND-DRS-Policy-Circular-No.81-2017-18-English.pdf)
Tags: Home loans Mortgage Loan against property MSME lending Property valuation