Apply For A

LOAN AGAINST PROPERTY

  • Secured Loan
  • Interest rate starting from 9.50%
  • Maximum tenure up to 20 years
  • Maximum loan amount up to 10 crore
  • Quick approval and hassle free Processing
  • Flexible repayment options

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Everything You Need to Know About Loan Against Property

Advantage

  • We at LoanAdda streamline the process of applying for loan against commercial property, residential property/plot by enabling you to compare between best loan against property (LAP)schemes, by teaming up with leading banks and NBFCs.
  • With LoanAdda fund your dreams using your property , whether you are looking to expand your business or need financial aid for personal reasons,
  • LoanAdda offers loan amount up to 10cr for a tenure of 15-20 years at lowest loan against property interest rates.
  • With LoanAdda avail the cheapest loan against property interest rate starting from 8.50%.






Overview

Loan Against Property is a kind of secured loan. This sort of funding can easily be acquired by mortgaging your assets such as residential or commercial property. The Banks and financial institutions put forward mortgage Loans against Property for properties like residential, commercial property or vacant land, etc. It's a secured category loan, which means that if the applicant fails to pay back the loan amount then the bank or the financial institute can legally put up the property for sale in order to recover the remaining loan amount. .

However, the property rights stay with the applicant throughout the tenure. The borrower can normally use or lease the property, in case of loan against commercial property. In case of joint property rights, all the co-owners require being the co-applicants in the loan.

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STEPS TO APPLY HOME LOAN Secured Loan - Property Loan - Mortgage Loan

The illustration below indicates what to expect at every step during the loan evaluation process. It helps understand how the credit decisioning works in banks and the steps they take before deciding to accept or reject a loan/ credit card.

Loan Against Property Eligibility

Fill in the Loan Against property Application Form, to check your eligibility.

Loan Against Property Compare

Compare various Loan Against property loan options, and apply for the suitable option.

Loan Against Property e-approval

Get an instant e-approval, after successful submission of the application.

Documents Required For Loan Against Property

1. Proof of Business - Shop and Establishment Certificate, Vat Registration Certificate/ Service Tax Certificate.

2. Last 3 years IT tax returns with profit and loss account and balance sheet duly audited by CA.

3. Business profile on the letterhead of the company.

4. ID/ Age Proof - PAN Card, Passport, Aadhar Card

5. Cheque of Processing Fee.

6. Last 6-month bank statement

7. Property documents

8. Residence Proof – Passport, aadhar card, gas bill, water bill, postpaid bill

9. 1 photograph

Most banks follow the same general rules in terms of document requirements. There may be a few changes in certain cases, in which case, our loan officers will guide you personally to complete the documentation process. Salaried individuals.

1. Form 16 of the last 2 years or Income Tax Returns.

2. Salary slips of the last 3 months.

3. Last 6 months bank statement till date (reflecting salary credits).

4. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and

5. Cheque (as per requirement)

6. Residence Proof – Passport, postpaid bill, water bill, gas bill

7. Property documents

8. 1 Photograph

1. Age proof of all the partners in the form of PAN Card, Passport or Aadar Card.

2. PAN Card of the company.

3. Residence proof of all the partners – Utility Bills/ Passport/Bank statement/ Registered rent      agreement.

4. Proof of Business - Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax      Certificate.

5. Latest 3 years Income Tax returns with profit and loss and balance sheet duly audited by CA.

6. Latest 12 months bank statement of the Company and of the Partners’ Savings Bank Account.

7. Existing Loans' Sanction letters accompanied with repayment track.

8. Business profile on the letterhead of the company.

9. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/      Utility bills/ Bank Statements.

10. Cheque of Processing Fee.

1. Application form duly filled with photographs of directors.

2. Age Proof of Directors - PAN Card, Aadhar Card, passport.

3. Residence Proof of Directors - Utility Bills/ Passport/Bank statement/ Registered rent agreement.

4. PAN Card of Company.

5. Education Qualification - A professional qualification certificate in case of Doctors/CA/Architects.

6. Proof of Business - Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax      Certificate.

7. MOA, AOA, List Of Directors, Share Holding Pattern of the Company.

8. Last 3 years IT returns with Profit and Loss account and balance sheet duly audited by CA.

9. Latest 12 months bank statement of Company of all current accounts and the same for Director’s      Savings Bank Account.

10. Existing Loans’ sanction letter with repayment track of company and Individual Directors.

11. Business Profile on the Letter Head of the Company.

12. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof –         Passport/ Utility bills/ Bank Statements.

13. Cheque of Processing Fee.

1. Occupancy Certificate.

2. Approved Plan of building.

3. Share certificate copy.

4. Past 13 years Chain of deeds.

5. Nil Encumbrance Certificate - EC (if applicable).

6. Current Sale agreement/ Draft Agreement to sell.

Your eligibility for Home Loan is determined by the following factors:-


Income- must be a salaried or self employed individual with a stable income source.

Age- must be between 24-60 years.

Credit score.

Total assets and liabilities

No of dependents