Loan Against Property
Overview
Loan against property is a secured loan. This loan used for raising funds for business or purchase a new property. existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".
Eligibility
Loan Against Property Eligibility Criteria
The borrowers do not need any hefty eligibility criteria to avail a car loan. The minimum eligibility criteria are given below:
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The Applicant should be age between 18 to 70 years.
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The Applicant annual income should be minimum Rs. 5 lakh
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The Applicant should be employed or in business for at least 3 year.
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The Applicant should be holding Bank Account at least for 1 Year.
Documents
KYC
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Identity Proof - Pan Card, Valid Passport, Permanent Driving license, voters ID Card etc.
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Address Proof - Aadhar Card, Valid Passport, Light Bill, Rent Agreement, Company Letterhead.
Income Proof -
(Salaried Individuals)
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Latest 3 months salary slip
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Latest 2 years Form 16
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Bank statement of the current 6 months
(Self Employed Individuals)
(Sole Proprietorship)
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​Latest 2 years Income Tax Returns (ITR)
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Bank statement of the previous 12 months
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Shop Act licence as a business proof
Self Employed Individuals
(Partnership Firms)
All the following documents as income proof:
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Audited Balance Sheet
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Company Incorporation
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MOA & AOA
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Profit & Loss Account of the previous 2 years
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Company ITR for the previous 2 years
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​Shop & Establishment Act Certificate
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GST Certificate
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Bank statement of the current 12 months​​​​​​​​​​​​​​​​​​​​​
Self Employed Individuals
(Private Limited Companies)
All the following documents as income proof:
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Audited Balance Sheet
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Company Incorporation
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MOA & AOA
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Profit & Loss Account of the previous 2 years
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Company ITR for the previous 2 years
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​Shop & Establishment Act Certificate
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GST Certificate
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Bank statement of the current 12 months
Self Employed Individuals
(Public Limited Companies)
All the following documents as income proof:
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Audited Balance Sheet
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Company Incorporation
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MOA & AOA
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Profit & Loss Account of the previous 2 years
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​Any of the following documents as address proof:
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Telephone Bill
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Electricity Bill
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Shop & Establishment Act Certificate
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GST Certificate​​​​
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Bank statement of the current 12 months
Features & Benefits
Quick & Easy Approval
Minimal Documentation
Attractive Interest Rate
No Hidden Charges
High LTV
100% security of
documentation
Customer Support
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