Loan against Property(LAP) is one of the variants of the Personal loan on lower interest rate for long term repayment facility against residential/commercial property as collateral.
|Age||21 to 60 Years||21 to 60 Years|
|Loan Amount Offered||Rs.10L to 2Cr*||Rs.10L to 2Cr*|
|Tenure||5 to 15 Years||5 to 10Years|
*SEP : Self-employed professional; *SENP: Self-employed non-professional.
*Loan Amount can be higher subject to Bank's / NBFC's internal approvals.
*Tenure are subject to individual profile and property's current market value status.
Loan against Residential/Commercial/Industrial Property: is a term loan offered against your Residential/commercial and industrial property which may vacant or occupied by self or tenant.
Loan against Residential/Commercial/Industrial Open land :is a term loan offered against your Residential/commercial and industrial open plot which may vacant or occupied by self or tenant .
Lease Rental Discounting(LRD) : is a term loan offered against rental receipts derived from lease contracts with corporate tenants. The loan is provided to the lesser based on the discounted value of the rentals and the underlying property.
Can be avail for -
Funding for medical treatments,
Child's higher education,
Funding for your dream vacation,
Home improvement / Home extension etc
Documents Required for Home Loan (Can be downloaded from here )
For salaried individuals:
Passport Size colour photograph for borrower and co borrower.
Proof of identity and residence proof such as Aadhar Card, Voter ID Card, PAN Card, Passport.
Salary slips of past 3 months
Latest Form-16 issued by current employer.
Six month salary credit bank statements.
A cheque covering the administrative costs/processing fees incurred by the bank in processing the application
For Self-employed Businesspersons:
Proof of identity and residence proof
Educational qualification certificates, degrees, diplomas, and other academic credentials
IT Returns of the three years preceding the one in which loan is applied for.
Bank statements of six months preceding the one in which loan is applied for
For Self-employed Professionals:
Identity and Address proof documentation
Certificates that prove your academic qualifications/credentials
All registration/licensing certificate pertaining to your profession
Business existence proof/business profile details
Previous 3 years' balance sheets as well as Profit & Loss Statement of the company.
Acknowledged Income Tax statements of the company and self for previous 3 years
Last 6 months' bank statement.
B. Property Documents
Latest Sale Deed with all the previous link documents.
Building sanction plan and Proceedings.
Latest Property tax receipts.
Layout copy, land use Certificate and LRS copy(for Open Land only).
Calculate the loan amount that you will be eligible for and its free.
Calculate your LAP EMI
Get the best home loan quotes based upon your requirements
Compare the different home loan products against different parameters
Apply for home loan online
Refer... Earn and Grow ( FOR register : http://www.loandhaba.com/associate-zone.php )