Loan Against Property
Loan Against Property
A Loan Against Property (LAP), also known as a mortgage loan, is a type of secured loan offered by financial institutions where individuals can pledge their property (residential or commercial) as collateral to avail a loan. The property’s market value determines the amount that can be borrowed..
Income Criteria
Salaried Individuals
Self Employed
Documents Needed
A copy of any of the following as proof of residence:
- Ration Card
- Telephone Bill
- Electricity Bill
- Voter's ID Card
A copy of any of the following as proof of identity:
- Voter's ID Card
- Employer's Card
- Latest Bank Statement/Passbook from where you can show a salary/income being credited for the previous 6 months
- Salary slip for the previous 6 months showing all deductions
- Form 16 for the previous 2 years Copies of all the property documents of the concerned property to be pledged for the loan
Our Benefits
- Obtain a large sanction Enjoy a lower interest Repay over a long tenure Get tax benefits on interest payments