What is a Loans against property?
Loans against property are loans that are secured by mortgage of land and building and it can be for your personal needs or business requirement.
Who can apply?
Salaried and self-employed individuals who are 21 to 65 years old and residents of India can apply.
Is a guarantor required?
A guarantor is not mandatory. However, the existence of a co-borrower or a guarantor increases the chances of the loan getting sanctioned.
What is the maximum funding?
The maximum funding is ₹ 30,00,000/- with tenures extending up to 60 months.
What are the documents required?
- KYC documents issued by the government for proof of identity and address
- Form 16, salary slips for the last 3 months if salaried
- Bank statements for the last 6 months
- Income tax returns for last 3 years and proof of continuity of business for self-employed
- Title Deeds and other allied documents related to the property to be mortgaged