Get Loan Against Property Offers
A maximum of 5 providers will compete to give you the best rates (May 2012)

 

 

 

 

 

 

 

 

 

 

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If you need a long term loan at reasonable rates of interest Loan against Property is the loan choice for you. You will have to provide an existing residential flat or office property as a security for the loan and the eligibility loan amount will be decided based on your income as well as the market value of the property. You can use the loan for your business, higher education needs, personal consumption needs or any other purpose except speculative purposes. Banks can also offer Loan against property as an overdraft facility where you pay interest only to the extent you utilize the loan. We have a network of providers who will compete to provide you the best deal. You can choose based on the


  • Amount of loan available
  • Interest Rates
  • Lowest EMIs
  • Regular EMI loan or Overdraft facility
  • Processing and other Fees
  • Loan tenure

Or any other parameter that is important to you

Documents required for LAP

what are the documents required while applying for LAP

Apnaloan.com Research Bureau

23 May 2008

The documents required while applying for loan against property are similar to those of home loan expect for three additional documents. The documents required will vary from bank to bank.

  • Identity proof:
    A copy of any of these - passport, driving license, voters ID or PAN card with your photograph will serve the purpose of your identity proof.
  • Proof of residence:
    A copy of your passport, ration card, driving license, telephone bill, or electricity bill to show that you reside at the same place as mentioned in the documents.
  • Income proof:
    The proof of income for salaried individuals will differ from that of self- employed individuals. Salaried people need to submit their latest salary slip, Form 16 (along with salary certificate from the employer), and their bank statement for the last 3 months. Self-employed people need to provide their IT returns for the last 2 years, balance sheet, and profit & loss account, bank statements for the last 6 months as proof of income.
  • Photocopies of all the property documents need to be handed over prior to sanction of the loan.
  • The customer also needs to give a declaration stating that the loan amount would not be used for the purposes of carrying out any illegal activities or for speculative activities.
  • A valuation report of the flat from the professional valuer appointed by the bank.