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Shakthi Loan against Property

IIFL Home Finance offers Shakthi Loan, which is a small ticket size Loan Against Property, to provide for the financial needs of India’s unorganised and small businesses. Shakthi Loan enables the business owner to have access to finances in form of loan for scaling up the day to day operations, and supports the inclusive growth of the underserved and informal sections of the society that face challenges of easy access and fast credit facilities from the formal Banking and Financial sector. IIFL Shakthi Loan against Property bridges the credit gap and the philosophy of offering simple credit to last-mile micro unorganised enterprises.

Shakthi Loan against Property caters to and fulfils the credit needs of the micro businesses such as small groceries stores, saloons, vegetables vendors, small traders and agricultural ancillaries i.e., seeds and fertilisers suppliers at the end of the supply chain, etc. The loan approval can be availed in just 30 minutes* with online documentations and procedures for faster approval and processing.

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Shakthi Loan against Property Eligibility

To qualify for IIFL Shakthi Loan, the customer needs to meet the following eligibility criteria:

  • Any resident Indian citizen can apply for IIFL Shakthi Loan
  • Applicants need to be between the age group of 18 to 75 years
  • Both salaried and self-employed individuals are eligible for Shakthi Loan Small business types which may avail Shakthi Loan are small groceries stores, saloons, vegetables vendors, small traders, Tiffin Center, Tea Stall, Livestock, and similar

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Shakthi Loan against Property Documents

Getting IIFL Shakthi Loan against Property is easy and quick. The paperwork is easy and the loan approval process is digital. Following is the list of documents required for Shakthi Loan.

Mandatory documents:

Document type Salaried Self-employed
Application Form Yes Yes
Identity Proof
  • PAN (Mandatory)
  • Voter ID
  • Passport
  • Driving Licence
  • Aadhar Card
Yes Yes
Address Proof
  • Voter ID
  • Passport
  • Driving Licence
  • Aadhar Card
Yes Yes

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IIFL Shakthi Loan FAQs

You can apply for IIFL Shakthi Loan by clicking here and may get loan approval in just 30 mintues*.


Yes! It is mandatory to have a female applicant or co-applicant in the loan structure. No loan is usually given without a female co-borrower.
To qualify for IIFL Shakthi Loan Against Property, you need to meet the following eligibility conditions: - check above

• Nationality: Indian
• Age Limit: 18 to 75 years
• Salaried & Self-employed Individuals
For IIFL Shakthi Loan, the maximum loan tenure is 7 years.
Under IIFL Shakthi Loan, Balance Transfer will be allowed from;

• All scheduled commercial banks and public sector banks
• Co-operative Banks
• Gramin Banks

Equated Monthly Instalment(EMI) is a fixed amount mandatory to pay every month against the loan borrowed on a specific due date. The EMI comprises of two components:

• Principal
• Interest payable on the principal

IIFL Shakthi Loan EMI is calculated on the basis of combinations of factors, namely principal amount, interest rate, tenure of loan and calculation method.

Calculating EMI is one of the significant factors when initiating the loan application process with a lender. The free tool can be used multiple times to calculate EMI. Below is the IIFL Shakthi Loan EMI calculation formula:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where, • EMI: Equated Monthly Instalment,
• P: Principal Amount
• R: Interest rate per month
• N: Number of monthly instalments or loan tenure in months.

Manual calculation of IIFL Shakthi Loan EMI can be time-consuming. Additionally, there are bound to be errors. To avoid this, you can use IIFL Shakthi Loan Calculator for arriving at a specific amount.

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