Loan Against Property


Loan Against Property – Apply Now

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Loan Against Property

Unlock The Real Value of Your Property

Let your property be a shelter to your dreams. A Loan Against Property, is a multi-purpose loan that can be used for your business and personal needs.

Advantages

  • Attractive interest rates
  • Loan Tenure upto 15 years
  • Doorstep service at your comfort
    Simplified documentation
  • Faster processing
  • Flexible repayment options
  • Loan against commercial / residential property

 


Documents

Documents required

Getting a Loan Against Property from a Bank is easy and quick. We keep the paperwork and other formalities to a minimum. Proof of your identity, address and income are some of the key documents that are required to be submitted for a Loan Against Property.

Document
Salaried Applicants Other Applicants
Proof of identity
Voter’s ID card or driving license or PAN card or photo credit card or employee’s ID card, or defense or police or government department ID card
Voter’s ID card or driving license or PAN card or photo credit card
Proof of income
Latest salary slip showing all deductions or Form 16 along with recent salary certificate
IT Returns for the last 2 years and computation of income for the last 2 years certified by a CA
Proof of residence
Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement
Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address
Bank statement or pass book where salary or income is credited
Last 6 months
Last 6 months
Guarantor form
Optional
Optional
Lease Agreement
Copy of lease agreement required for all lease rental discounting cases
Copy of lease agreement required for all lease rental discounting cases

 

 


Eligibility

A) – Salaried Individuals

– Any individual who is in permanent service in government or a reputed company

– The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to the age of superannuation

B) – Professionals

– Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, management consultants only) can apply.
– Applicants above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity meet our housing loan criteria.


C) – Self Employed Individuals

– Any individual filing income tax returns can apply
– Applicants should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

D) – Lease Rental Discounting (LRD)

– All resident individuals can apply. The lessee must however be a company as defined under the Companies Act, 1956. Funding will be done only against ready commercial property. The same will be restricted to 85% of the net present value of the future rentals or 50% of the value of property, whichever is lower.