Loan Against Property Documents Required

Documents Required for Loan Against Property

The list of common documents required for loan against property for both salaried and self-employed applicants are as follow.

Identity Proof (any one of the following):

• PAN card
• Passport
• Driving License
• Voter’s ID
• Employee ID
• Bank passbook
• Ration card

Address Proof (any one of the following):

• Ration card
• Telephone bill
• Electricity bill
• Rent agreement
• Passport
• Driving License
• Bank passbook or statement

Also Read: Loan Against Property Interest Rates

Residence Ownership Proof (any one of the following):

• Property documents
• Maintenance bill
• Electricity bill

Copies of all Property Documents:

• Sales deed/copy of Agreement
• Share certificate (if society formed)
• Latest maintenance bill

Also Read: Documents Required for Home Loan

Loan Against Property Documents Required for Salaried Applicants

Salaried applicants are required to submit the following documents for availing loan against property:

Income Proof (any one of the following):

• Form 16
• Bank statements (bank statements or passbook for last 6 months) or last 6 months salary slips
• Income tax returns for last 3 years

Proof of Job Continuity (any one of the following):

• Current job appointment letter (if more than 2 years have been spent in the same job)
• Current employment certificate
• Experience certificate (including previous job certificate or appointment and relieving letter)

Other Important Documents:

• Sanction letter, payment track record of existing loans (if any)
• Investment proof: Shares, fixed deposits, fixed assets (if any)
• Processing fee cheque

Documents Required for Loan Against Property for Self-employed

The loan against property documents required for self-employed applicants are as follows:

Office Address and Ownership Proof (any one of the following):

• Property documents
• Electricity bill
• Maintenance bill

Business Existence Proof (any one of the following):

• Sales deed/ agreement (executed)
• Saral copy (3 years old)
• Copy of tax registration
• Company registration license

Income Proof (any one of the following):

• Last 3 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
• Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable
• Latest 1 year bank statement (both savings and current)

Other Important Documents:

• Application form with photograph
• Professional degree certificate (in case of professionals)
• Sanction letter, payment track record of existing loans (if any)
• Investment proof: Shares, fixed deposits, fixed assets (if any)
• Processing fee cheque

Note: Documents for loan against property may vary from one lender to another. Along with the above mentioned list of documents, lenders may ask for additional documents as per their discretion.