Loan Against Property Documents Required

Home Loan Against Property Loan Against Property Documents Required
Property type
Property Value
Loan Amount
Monthly Income
Residence City
Mobile

At times when one’s finances are strained and one needs a little help to tide one over, leveraging one’s assets could act as a favourable option rather than fretting over the situation. In such a circumstance, a loan against property would come in handy. Since one offers a collateral for the loan, one can get a higher loan amount as compared to that of an unsecured loan. It’s also a better option since the tenure for a loan against property is longer than that for a personal loan.

The Loan Against Property eligibility criteria vary from bank to bank, but the basic criteria remain fairly uniform.

Documents required for salaried applicants:

  1. Proof of identification (any one of the following):
  • PAN card
  • Passport
  • Driving License
  • Voter’s ID
  • Employee ID
  • Bank passbook
  • Ration card
  1. Address proof (any one of the following):
  • Passport
  • Utility bill (telephone, electricity, water, gas) – less than 2 months old
  • Letter from a recognized public authority verifying the customer’s residence address
  • Bank passbook or Bank account statement
  • Voter’s ID
  • Ration card
  • LIC policy/ receipt
  1. Residence ownership proof (any one of the following):
  • Property documents
  • Maintenance bill
  • Electricity bill
  1. Proof of income (any one of the following):
  • Payslip (Last 2 months)
  • Increment or Promotion letter
  • IT returns (for 3 years)
  • Form 16
  • Certified letter from Employer
  1. 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)
  1. Bank statement: Last 6 months bank statements of salary account
  2. Existing loans: In case of any existing loan, need to submit sanction letter, payment track record
  3. Investment proof (if any): fixed deposit, fixed assets, shares, etc.
  4. Copies of all property documents: Sales deed/copy of Agreement, share certificate (if society formed), latest maintenance bill
  5.  Advance processing cheque: to process loan documents for sanction

Documents Required for self-employed Individual/Businessman:

  1. Proof of Identification
  2. Address Proof
  3. Residence ownership proof (any one of the following):
    • Property documents
    • Electricity bill
    • Maintenance bill
  4. Office address and ownership proof (any one of the following)
    • Property documents
    • Electricity bill
    • Maintenance bill
  5. Proof of business existence (any one of the following)
    • Sales deed/ agreement (executed)
    • Saral copy (3 years old)
    • Copy of tax registration
    • Company registration license
  6. Proof of Income (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
  7. Bank statement: Latest 1 year bank statement (both savings and current)
  8. Copies of all property documents: Sale deed/copy of Agreement, share certificate (if society formed), maintenance bill
  9. Advance processing cheque: to process loan documents for sanction
  10.  Passport size, coloured photograph
  11.  Investment proof (if any): fixed deposit, fixed assets, shares, etc.
  12.  Existing loans: In case of any existing loan, need to submit sanction letter, payment track record

Professional Degree Certificate: (in case of professionals).

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