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Loan Against Property Salary

Bank Name Min Interest Rate Processing Fee Max Loan (Lacs) Max Tenure (Month) Chances of Loan Approval
10.00% 1% 500 180
8.80% 1% 1000 120
13.00% 1% 100 180
10.70% 1% 1500 180
9.40% 1.00% 200 120
11.00% 1% 200 180
8.50% 1% 1000 180
11.70% 1% 1000 120
9.50% 1% 700 180
8.00% 1% 200 180
10.00% 1% 500 180
7.50% 1% 1000 180
9.00% 1% 1000 180
9.80% 1% 1000 120
8.70% 1% 500 120
11.00% 1% 500 180
8.50% 1% 1000 180
10.10% 1% 500 120
10.00% 1% 500 180
10.00% 1% 300 120
8.90% 1% 2500 180
9.00% 1% 1000 180
10.75% 1% 1000 120
8.85% 1% 1000 120
9.00% 1% 1000 180
7.50% 1% 1500 180
9.00% 1% 1000 180
9.50% 1% 750 180
9.50% 1% 1500 180
8.50% 1% 2500 180
9.25% 0.50% 3500 180
8.45% 1% 750 120
10.00% 1% 500 180
9.50% 1% 1000 180
9.00% 1% 1000 180
8.60% 1% 1000 12
14.00% 1% 50 180
11.00% 1% 200 180
9.00% 1% 300 180
9.50% 1% 500 180
10.00% 1% 300 180
Apply Now EMI Calculator Eligibility Criteria Documents Check List FAQs
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Eligibility Criteria

What you mean by Loan against property salary Eligibility Criteria?

Do you need loan for personal or business purpose? Pledge your residential or commercial property as a collateral & get up to 90% of property value as a loan amount & enjoy other exclusive benefits. Just have a look forward to eligibility.

Loan against property Eligibility Criteria

Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.

Loan Against Property Eligibility Criteria for Salaried Individuals

  • • Age Limit of Salaried Individuals - 28 to 60 years of age
  • • Work experience of salaried Applicants – Minimum 3 Years
  • • Should be being at public, private companies or MNC
  • • CIBIL Score should be above 750
  • • Nationality - Resident of Indian

Loan Against Property Eligibility Criteria for Self-Employed Individuals

  • • Age Limit of Self –Employed Individuals - 25 to 70
  • • CIBIL Score should be above - 750
  • • Minimum Years of doing Business - 3-5 Years
  • • Nationality - Resident of Indian

Note: - Maximum Loan Amount of Salaried Individual can avail up to 1 Cr & Self- Employed Individual can avail up to 3.5 Cr.

What are the factors generally affecting Loan against property salary Eligibility Criteria?

There are few factors that generally affects Eligibility Criteria as given below: -

Stability of income: - This is one of the prime factor determining applicant repayment capability. Due to lack of regular sources of income your eligibility gets lower & loan application would face rejection.

Bad Credit Score: - You might be pledging your property as collateral while applying for loan, but lenders will look forward to credit score, if it ranges in between 300 – 650 then most likely your chance of getting loan reduces.

Choice of shorter tenure: - Usually, shorter tenure is good for them whom have multiple sources of income, they are capable of paying higher EMI on monthly basis, but when it comes to salaried person your overall expenses are dependent on monthly salary if it not up to the mark, then prefer to choose longer tenure as it will give you relax to pay smaller EMI which don’t affect you do other things & even lenders also give preference longer tenure applicant.

What are the ways to increase Loan against property salary eligibility?

To increase loan against property eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level: -

Opt for Longer Tenure: - If you want to pay smaller EMI remembering not to influence your personal expenses then choose a longer tenure, it will not only give you comfort to pay but also help you increase your eligibility.

Do Payments timely: - Always pay bills on time, avoid having several credit card as it harm your credit score which led to lower score reduces chances of loan approval, do all payments timely without giving excuses to yourself as it enhances your chances of increasing eligibility.

Documents Required

INDIVIDUAL
  1. PHOTOGRAPHS 2

  2. PAN CARD COPY

  3. AADHAR CARD + PASSPORT

  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF

  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE

  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT

  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)

  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS

  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK

  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER

PROP FIRM
  1. PHOTOGRAPH BOTH

  2. PAN CARD CLEAR COPY PROPRIETOR

  3. ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR

  4. OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)

  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY

  6. LAST 1 YEAR GST RETURN COPY

  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE

  8. PROVISIONAL FINANCIAL AY 2019-20

  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)

  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)

  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED

  12. AGREEMENT TO SELL COPY

  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP

PARTNERSHIP FIRM
  1. PARTNERSHIP DEED COPY

  2. GST CERTIFICATE

  3. GST RETURN LAST 1 YEARS

  4. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED

  5. PROVISIONAL FINANCIAL AY 2019-20

  6. 3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION

  7. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED

  8. ALL PARTNER SAVING A/C STATEMENT 6 MONTH

  9. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED

  10. AGREEMENT TO SELL COPY

  11. PROPERTY PAPERS COMPLETE CHAIN WITH MAP

PVT.LTD
  1. ALL DIRECTORS PHOTOGRAPH

  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS

  3. ADDRESS PROOF – COMPANY AND DIRECTORS

  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE

  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)

  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE

  7. 1 YEAR GST RETURNS

  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS

  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE

  10. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR

  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED

  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH

  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED

  14. AGREEMENT TO SELL COPY

  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP

FAQs

Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.

What is the maximum tenure period for Loan Against Property?

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As a maximum repayment period to pay back the principal amount is 15 years.

Are opting for Property Loan is good?

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Opting for a Property Loan is the best way to fulfill your financial needs as it offers lowest Interest Rates.

Can I repay the loan ahead of schedule?

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Yes, you can do it without making any penalty cases as most banks won’t charge you, but there are few banks demand you to pay 2% - 3% of principal amount as a pre-payment penalty.

How much loan I can avail in Loan Against Property?

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If you are a salaried individual you can avail up to 1 Crore, in case if you are self-employed individual you can avail up to 3.5 Crore.

How Loan Against Property EMI Calculator works?

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Generally, it was calculated on principal amount, Interest Rates & tenure specific period to repay amount & finally outcomes as a scheduled month wise EMI chart.

What are the processing fees for such Property Loan?

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For a Property Loan you will be charged a processing fee up to 1% of loan amount borrowed by lenders.

What can Loan against Property be used for?

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Property loan can be used for various purposes like clearing existing high payable Emi debt, health expenses, children's higher studies & marriage either for business set-up.

Is co-applicant facility is allowed in Loan Against Property & how can become?

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Yes, if your income or property value is not up to the mark required by lender, then you can increase your eligibility just by adding your blood relation family members like husband,wife,mother,unmarried daughter, brother, son & father can be an co-applicant.

What is Loan Against Property?

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This type of loan come under secured category as you will required to pledge your property to get loan & offered by various Banks,NBFC’s & Financial Institution at low Interest Rates with flexible tenure to repay.

What is Loan Against Property Interest Rate?

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For Property Loan Interest Rate might vary from bank to bank, generally between 7.20% to 14.00% per annum.

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