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About Loan Against Property

In the real estate and housing finance market today, we regularly come across the term “Home Loan Against Property” it is also known as secured loan.

Which means Loan against property is nothing but a loan which you avail by keeping your commercial/residential property as a collateral.

A loan against property is a convenient option to finance all high-end expenditures for business or personal purposes.There are also many services which are now provided by the banks so that people can repay their loan easily. The amount which we get totally depends on the property on which we want loan to be sanctioned. Before the sanction of loan the bank would verify look into income details, savings, employment track and other aspects of the person who wants to take a loan, before coming to disbursement.

The property or collateral would be evaluated on the current market value and correspondingly the loan amount would be calculated. Getting a loan against property becomes much more streamlined and swift if you have all the basic documents in place.

The only drawback with loan against property is that the bank may take possession of property if the individual fails to repay the loan amount, however,its very important to have a planned approach so one can manage things and can avoid the circumstances for possession of properties.

Get financing for whatever you need now

Achieve all your goals and aspirations; with the right kind of help, exactly when you need it.

Cash Credit

Cash credit is a facility to withdraw money from a current bank account without having credit balance but limited to the extent of borrowing limit which is fixed by the commercial bank. The interest on this facility is charged on the running balance and not the borrowing limit which is given by bank.

Packing credit

A borrowing facility provided by a financial institution to help an exporter finance the costs of buying or making a set of products, and then packing and transporting them before shipment occurs. A packing credit loan will often be extended if a letter of credit has been issued by a purchaser of the products that is based in another country or a confirmed order for exporting the goods exists.

Dropline overdraft

Dropline overdraft is a facility granted to you where you can overdraw your current account up to an agreed limit. Overdraft is an efficient form of borrowing as you pay interest only for the time you use the money.It is against an Property

  • Kind of Case = BT+ Top up, Fresh, pure rental income program bank
  • Rate from 10.25 to 11.25%
  • Loan Amount in banking up to 5 crore and in Income program 7crore
  • Type of mortgage Residential, Industrial, commercial, plot.

Documents required

Sole Proprietor

  1. Log in declaration on Company Letter Head. (Signature plus company stamp)
  2. KYC- Pan, Aadhar, Passport (Signature on each page)
  3. Trade license of 2 years. (Signature on each page)
  4. GST Certificate.
  5. GST 3B of 1 year.
  6. ITR of 2 years with computations and audited financial. (Signature on each page).
  7. 1 year banking of all the customers’ accounts. (Signature on 1st and last page). Current/Saving.
  8. Sanctions Letter of all the customers’ Loan.
  9. Property paper include (Sanction Plan or ARC).

Partnership Firm

  1. Including all the previous document
  2. Partnership Deed. (Signature required).

Private limited company

  1. Including all the previous document
  2. MOA & AOA. (Signature on 1st and last page)
  3. List of Directors and shareholders.
  4. Company PAN.

Get a Quote

Now apply for a LAP online, All you need to do is provide your details below application form.