Types of Loan Against Property(LAP)

• 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.

Benefits of Loan against Property

Can be avail for -

• Child education,

• Funding for medical treatments,

• Child's higher education,

• Child's marriage,

• Funding for your dream vacation,

• Business expansion,

• Home improvement / Home extension etc

Loan against Property Documents.

• Documents Required for Home Loan (Can be downloaded from here )

• A. Personal and Financial documents.

  • 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.

  • Encumbrance Certificate.

  • Layout copy, land use Certificate and LRS copy(for Open Land only).

With loandhaba.com you can avail a lots of benefits, such as:

• 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 )