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Loan Against Property Eligibility Criteria :-
Loan against property is one of the types of secured loan. In this type of loan also known as mortgage loan. In this type of loan you have to mortgage your property. Property type can be residential, commercial or individuals. Loan against property could be used for several personal & Professional needs. Like Business expansion, purchase of new machinery or equipments, etc.
In loan against property, banks or lenders mortgage the property. Usually the loan value ranges from 50% to 90% of the property value.
| Sr. No | Particulars | Criteria |
|---|---|---|
| 1 | Age | 18 to 65 years |
| 2 | Loan Tenure | 5 to 15 years |
| 3 | Rate of Interest | 9 to 14% |
| 4 | LTV | As Per Bank Policy |
| 5 | Loan Amount | 10 lakh to 3000 crore |
Loan Against Property Documents :-
| Sr. No | Documents | For Salaried | For Self Employed |
|---|---|---|---|
| 1 | Photos | 2 Photos of App & Co Applicant | 2 Photos of App & Co Applicant |
| 2 | ID Proof | Pan Card & Aadhar Card | Pan Card & Aadhar Card |
| 3 | Address Proof | Passport / Electricity Bill / Registered Rent Agreement / Index II | Passport / Electricity Bill / Registered Rent Agreement / Index II |
| 4 | Income Proof | Last 6 Months Salary Slip | Last 3 Years ITR |
| 5 | Bank Statement | Salary Credited bank A/C statement for last 6 months | Last 1 year banking of current & Saving Account |
| 6 | ITR / Form no 16 A | Last 2 Years | N.A |
| 7 | GST Returns | N.A | Last 2 Years |
| 8 | Employment / Business Proof | Appointment Letter / Last Increment Letter | Shop Act licence/ MOA/ AOA/ Partnership Deed |