| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Aditya Birla Finance Limited
|
8% | 1% | 1500 | 180 |
|
|
Axis Finance Limited
|
9% | 1% | 1500 | 180 |
|
|
Bajaj Finance Limited
|
10% | 1% | 1500 | 180 |
|
|
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Capri Global Capital Limited
|
8% | 1% | 1500 | 180 |
|
|
DHFL
|
9% | 1% | 1500 | 180 |
|
|
Edelweiss Finance
|
10% | 1% | 1500 | 180 |
|
|
Hero FinCorp Limited
|
8% | 1% | 1500 | 180 |
|
|
Hinduja Leyland Finance Limited
|
10% | 1% | 1500 | 180 |
|
|
Indiabulls
|
8% | 1% | 1500 | 180 |
|
|
LIC Housing Finance
|
9% | 1% | 1500 | 180 |
|
|
Magma Housing Finance Limited
|
10% | 1% | 1500 | 180 |
|
|
Piramal Capital and Housing Finance
|
8% | 1% | 1500 | 180 |
|
|
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Shriram Housing Finance Limited
|
9% | 1% | 1500 | 180 |
|
|
Tata Housing Finance Limited
|
10% | 1% | 1500 | 180 |
|
|
Generally, without map one couldn’t get loan against property but now some lenders are providing loan for without map property at competitive rates with flexible tenure period.
Loan against property without map Eligibility CriteriaEligibility Criteria depends on several factors like repayment history, salary or business sales/turnover& Creditworthiness ...etc.
Eligibility Criteria
Note: - You can get 85% of property value as a maximum loan amount 1 Cr.
What are the factors generally affecting Loan against property without map Eligibility Criteria?There are top factors that generally affects without map property eligibility criteria as given below: -
Unstable financial behavior: - Lender evaluate your financial behavior by checking your financial history, if you were unable to make payments on time, your behavior marked as unstable which lower the chances of getting loan.
Incomplete Documentation: - Getting a loan from banks & NBFC’s require proper & complete document in terms of checking your originality & financial creditworthiness status, due to lack of incomplete document your loan application will be rejected.
What are the ways to increase Loan against property without map eligibility?To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Add a Co-applicant: - When your credit score is low, you can add your family earning member as a co-applicant which help to boost your eligibility strength.
Choose well maintained property: - Lenders will check the condition of property, a bad condition property will generally don’t have much market value wherein a well-maintained property has the high -potential of good market value. Therefore, choose well maintained property as it will also enhance the loan eligibility.
PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
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.
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To get Loan Against Property at low Interest Rates you are required to compare offers from various lenders so that you can able to evaluate the offers & benefits which suits your requirement.
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Opting for a Property Loan is the best way to fulfill your financial needs as it offers lowest Interest Rates.
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Whether you have map for your property or not, but make sure you carry all the mandatory documents with you like agreement of sale.
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Many Government, Private & housing companies provides loan.
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The loan amount is totally depend on property value, where lender do funding 60% - 85% of property value as a loan amount.
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According to your need & requirements choose the lender to avail loan, contact them via visiting their official site by filling enquiry form or visit your nearest bank branch.
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If you have property without map still you have opportunity to get finance, many lenders are offering this type of credit facility at low Interest Rates.
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In general, most lenders offer period up to 30 years to repay the borrowed principal amount.
CA Vikas Jain - Our Mentor
9863-02-02-02