Loan Against Property for Self-employed Business persons (Documents Required)

• Proof of identity (PAN Card) of residence Applicant & Co-Applicant.
• Proof of address (Aadhaar Card or Passport) of residence Applicant & Co-Applicant.
• Proof of age (Birth Certificate, School leaving certificate, Aadhaar Card or Passport) of residence Applicant & Co-Applicant.
• Proof of the existence of business.
• Detailed business profile including bank statements of the main account and other accounts. (as mentioned in the balance sheet)
• In case of a partnership firm, you would need to submit a partnership deed and partnership authority letter.
• Audited ITR Financials for the last 3 y
• In case of private/public limited company, you would need to submit; list of directors, AOA, MOA, Form 32, shareholding patterns, company PAN card, annual reports, and COR.
• Photo of Applicant & Co-Applicant

“GST Certificate”(for self-employed) & “Bank Statement”

*For processing the application, you need to pay administrative costs/processing fees incurred by the bank. This can be done via a cheque.

*Note: The list of documents required varies from bank-to-bank and financial institutes.

Loan Against Property for Self-employed Professionals (Documents Required)

• Proof of identity (PAN Card) of residence Applicant & Co-Applicant.
• Proof of address (Aadhaar Card or Passport) of residence Applicant & Co-Applicant.
• Proof of age (Birth Certificate, School leaving certificate, Aadhaar Card or Passport) of residence Applicant & Co-Applicant.
• Photocopy of property documents to be mortgaged with OC and CC.
• Photocopy of existing loans.
• Photo of Applicant & Co-Applicant.
• IT Returns of three years preceding the one in which loan is applied for.

*For processing the application, you need to pay administrative costs/processing fees incurred by the bank. This can be done via a cheque.

*Note: The list of documents required varies from bank-to-bank and financial institutes.

Loan Against Property for Salaried Individuals (Documents Required)

• Proof of identity (PAN Card) of residence Applicant & Co-Applicant.
• Proof of address (Aadhaar Card or Passport) of residence Applicant & Co-Applicant.
• Proof of age (Birth Certificate, School leaving certificate, Aadhaar Card or Passport) of residence Applicant & Co-Applicant.
• Latest salary slips.
• Form-16 issued by the current employer.
• Bank statements for the last 3months (where the salary is credited).
• Photocopy of property documents to be mortgaged with OC and CC.
• Photocopy of existing loans.
• Photo of Applicant & Co-Applicant.

*Should have a good CIBIL score.
*For processing the application, you need to pay administrative costs/processing fees incurred by the bank. This can be done via a cheque.

*Note: The list of documents required varies from bank-to-bank and financial institutes.

Eligibility For Loan Against Property (LAP)

• The Applicant should be an India citizen.
• The Applicant should be at least 24 years of age.
• The Applicant should be residing at the current place of residence for a minimum of 3 years.
• Self-employed applicants should be in the business for at least 3 years. Salaried employees should have at least 3 years of work experience with the current employer.

*Note: Different banks/financial institutes have different eligibility criteria.

Loan Against Property can be used for:

• Higher Studies
• Marriage
• Medical Emergency
• Purchasing new property or land (second home)
• For business purposes
• Renovation of house
• For vacation