Loan Against Property / Mortgage Loan /  A loan given against the mortgage of property like freehold residential properties (like Self Occupied / Rented flat, house, row houses, Bungalow & Commercial Rented Properties, Site / Plot, Industrial Site is called Loan Against Property (LAP).  The loan is given as a certain percentage of the property's market value, usually around 40 per cent to 60 per cent for

  • Business Purpose
  • Marriage, Education, Medical Expenses & other personal needs
  • For transferring outstanding loan availed from another Bank / Financial Institution

Rate of Interest starts from : 9.65% to 11.30%

List of Documents Required for Loan Against Property (LAP)

Identity & Valid Current Address Proof Document

  • Aadhaar Card / Voter ID Card / Valid Passport / Vaid Driving License 
  • Copy of Current Address Proof with Electricy Bill, Water Bill, Property Tax Paid Receip

Proof of Income

  • Last 3 Months Salary Payslips
  • Minmum Employment 1 Year
  • Last 12 Months Bank Statements showing salary credits
  • Latest Form-16 and IT Returns (last 3 Years)

Other Documents Required:

  • Employment Contract / Appointment Letter (in case current employment is less than 1 year old)
  • Last 6 months bank statment showing any repayment of any ongoing loans
  • Passport size Photograph of all applicants / co-applicants to be affixed on the application form
  • Cheque for loan processing fee

Property Related Documents

  • Sale Deed
  • Latest EC, Plan Copy ,Property Tax Paid Receipt, Layout Plan (if applicable)
  • Mother Deed / Link Documents (if required)

Other Information Required for Loan Against Property (LAP)

  • Purpose of Laon
  • Date of Birth of Applicant(s)
  • Gender of Applicant(s)
  • Highest Education Qualitifation
  • Grossed Fixed Monthly Salary of Applicant(s)
  • Monthly Take home salary of Applicant(s)
  • EMI of Existing Loans
  • Outstanding Tenur of Existing Lons
  • Email ID of Applicant(s)
  • Mobile / Telephone No. of Applicant(s)

Following documents required for Loan Processing.

  1. Application form & applicant(s) latest photographs (two)

  2. Applicant(s) ID Proof (like Aadhar Card, Driving License, Voter ID, Passport etc.,)

  3. Applicant(s) Address Proof document like Aadhaar, Voter ID, Rental Agreement, Latest Utility Bill, Bank Statement etc., 

  4. Applicant(s) Education Qualifications – Latest Degree

  5. Copy of Property Ownership document like Title Deeds including the previous chain of the property documents, an also approved plan documents (Residential / Commercial Property)

  6. Copy of EC (Encumbrance Certificate) showing all due and property taxes paid

  7. Income Proof : IT returns Proof/Form 16 for the last 2 Financial Years (Salaried / Self Employed Professional / Self Employed Non-Professional).

  8. Last 6 Months Bank Account Statement (for Salaried)  / Last 12 Months Bank Account Statement (for Self Employed)

  9. Business Profile (For Self Employed Non-Professional) 

  10. Existing EMI Details (if any)

  11. Processing Fee Cheque ( Cheque favoring respective loan processing Bank / Non-Banking Financial Company (NBFC) )

  12. Declaration and documents clearly stating the end use of the loan


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