
FAQ’s on Loan Against Property
Loan against property is collateral back borrowing. The loan amount, eligibility and interest rates are directly related to type of property offered as collateral along with borrower's financial ability on repayment.
Borrower gets around 60% to 90% of the value of the property as loan, provided his repayment capacity aligns with the limit one is seeking to avail the loan.
Loan against Property on Residential and Commercial
Lease Rent Discounting
Balance Transfer cum Top Up
Existing Customer Top Up
LAP Repayment can be availed for upto 15 years.
It usually takes around 10-30 days to get the Loan Against Property based on availability of the documents with client.
Identity Proof and PAN Card, mandatory.
Residential Address proof in the form of an Aadhaar card, passport, voter ID card, registered rent agreement, landline bill, driving license, bank statement or passbook. You may also need to provide utility bills of the last 3 months.
Registered Sale Deed, or Lease Deed, or Conveyance.
Past sale deeds chain comprising each of the transactions related to the property since it was allotted for the first time.
Latest utility bill.
Latest House tax return or receipt.
Form 16 of the last 3 years, salary slip for the previous 6 months, last 6 months bank account statement representing salary credited to the account.
Application form with photo.
Identity Proof and PAN Card, mandatory.
Residential Address proof in the form of an Aadhaar card, passport, voter ID card, registered rent agreement, landline bill, driving license, bank statement or passbook. You may also need to provide utility bills of the last 3 months.
Office address proof, such as ownership, or lease, or rent agreement, or a utility bill.
Registered Sale Deed, or Lease Deed, or Conveyance.
Past sale deeds chain comprising each of the transactions related to the property since it was allotted for the first time.
Latest utility bill.
Latest House tax return or receipt.
Business profile
Certificate and proof towards the existence of business
Income Tax returns of the last 3 years for self and business, balance sheets audited or certified by a Chartered Accountant, profit and loss account, bank account statement for self and business for last 12 months.