Loan Against Property

Loan

In today’s world, the level of standard of living is increasing continuously. To cope-up with the growing need of finance, individual can take loan against property. You can opt for the loan against property by keeping your property as a security to to the lending bank or financial institution. The property type can either be a commercial/residential building or just a piece of land

You can take loan against property and use it to fulfil a variety of needs-

  • Any medical emergency
  • Child’s education
  • Marriage purpose
  • Buying or constructing house
  • Business related use
  • For some other personal use


Here, are the types of Loan Against Property-


  • Loan against Self Occupied CommercialProperty.
  • Loan against Vacant Residential Property.
  • Loan against Rented Residential Property.
  • Loan against Industrial Property.



Documents required for Loan Against Property


Here are the documents required for Loan Against Property-


For Salaried Individual

  • Passport size photograph.
  • ID proof- PAN Card, AADHAR Card, Voter Id card.
  • Address proof– Ration card, Passport, Any utility bill like electricity or gas bill (for last 2 months), LIC policy/receipt, Bank account statement, Letter from a recognized public authority verifying the customer’s residence address
  • Residence Ownership proof– Any maintenance bill, property documents.
  • Income proof– Salary Slip of last 2 months, copy of FORM 16, IT Return of last 3 years, Promotion letter.
  • Proof of job continuity– Current job appointment letter (if it is more than 2 years), Current employment certificate, Experience Certificate (including your previous job certificate or appointment and relieving letter).
  • Bank Statement– Last 6 months bank statement of salary account.
  • Investment proof (if any)- fixed assets, shares, fixed deposits etc.
  • Advanced Processing cheque for processing loan documents for sanction.


For Self-employed Professional Individual

  • Passport size photograph.
  • ID proof- PAN Card, AADHAR Card, Voter Id card.
  • Address proof– Any utility bill like electricity or gas bill (for last 2 months), Property Documents.
  • Office Ownership proof– Any maintenance bill, property documents.
  • Income proof- Latest 3 years Income Tax Returs attested by a Chartered accountant, Audited balance sheet and Profit & Loss accounts, including tax audit report.
  • Address proof– Ration card, Passport, Any utility bill like electricity or gas bill (for last 2 months), LIC policy/receipt, Bank account statement, Letter from a recognized public authority verifying the customer’s residence address
  • Residence Ownership proof– Any maintenance bill, property documents.
  • Income proof– Latest 3 years Income Tax Returs attestede by a Chartered accountant, Audited balance sheet and Profit & Loss accounts, including tax audit report.
  • Business Existence proof– Saral Copy of last 3 years, Any Tax Registration Copy, License of Company Registration.
  • Bank Statement– Last 1 year bank statement of both current and savings account.
  • Investment proof (if any)- fixed assets, shares, fixed deposits etc.
  • Advanced Processing cheque for processing loan documents for sanction.

For Self-employed Professional Individual

  • Passport size photograph.
  • ID proof- PAN Card, AADHAR Card, Voter Id card.
  • Address proof– Any utility bill like electricity or gas bill (for last 2 months), Property Documents.
  • Office Ownership proof– Any maintenance bill, property documents.
  • Income proof– Latest 3 years Income Tax Returns attested by a Chartered Accountant, Audited balance sheet and Profit & Loss accounts, including tax audit report.
  • Residence Ownership proof– Any maintenance bill, property documents.
  • Income proof- Latest 3 years Income Tax Returs attested by a Chartered accountant, Audited balance sheet and Profit & Loss accounts, including tax audit report.
  • Business Existence proof– Saral Copy of last 3 years, Any Tax Registration Copy, License of Company Registration.
  • Bank Statement– Last 1 year bank statement of both current and savings account.
  • Investment proof (if any)- fixed assets, shares, fixed deposits etc.
  • Advanced Processing cheque for processing loan documents for sanction.

     

Property Documents

The property documents are common for salaried, self-employed professional and self-employed non-professional individuals.

  • Copy of agreement executed / Sales Deed.
  • Latest Maintenance Bill.
  • Share Certificate.
  • List of documents & sanction letter given by Existing Banker (if Applicable).

Documents showing Municipal Corporation approval of building plan (in case of residential/commercial property).

Apply Personal Loan Online at Lowest Interest Rate Upto Rs. 40 Lacs

*Salary account or relational bank
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Loan Duration: 12 - 60 months*   T&C Apply*

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