Loan Against Property
Loan Against Property
Loan against property allows applicants to leverage their property's value, offering benefits like lower interest rates, longer tenures, and flexible EMI options. Both salaried and self-employed individuals can apply. We provide insights on key factors, helping you choose the best bank/NBFC loan for your needs.
Documents
For salaried Individuals (photocopy and self attested)
- PAN & Adhaar
- 2 years form 16
- 2 photographs
- last 6 months bank statement
- Proof of existing loan if any
- last 3 months salary slips
For self employed Individuals (photocopy and self attested)
- PAN & Adhaar
- last 6 months bank statement
- Business address proof
- Proof of existing loan if any
- Last 3 years income tax return, computation, p&l account, balance sheet
Loan Against Property
- Self-employed individuals, proprietors, private limited companies & partnership firms working in trading, manufacturing or services.
- Individuals associated with the current business for a minimum of 3 years (plus a total of 5 years of business experience).
- Individuals should be at least 22 years of age while applying for the loan & less than 65 years of age at the time of maturity.
- Enterprises making profits for the past two years.
- Enterprises with a minimum turnover of INR 10 Lakhs.
- Enterprises with a Minimal Annual Income (ITR) of INR 2 Lakhs per year.
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