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303 / 3rd floor, Balaji Niwas, Yari Road Versova , Andheri West, Mumbai +91 8828441770 yourskype

MortGage Loan Eligibility

As the name implies – Loan against Property (LAP) is the loan taken on behalf of property or loan disbursed against property. Both residential and commercial property can be provided as collateral to the lending institution. It is basically cheaper than a personal loan and has longer tenure with low EMI.

Purpose of taking loan against Property

• To expand business.
• To fund medical treatments.
• To get his/her son/daughter married.
• To send children abroad.
• To fund dream vacation.

Loan Against Property Eligibility

• An individual who is Salaried, self-employed or self-employed professional.
• A person with Net Monthly Income is in excess of Rs.20,000/- or Net Annual Income (others) is in excess of Rs.2,40,000/-.
• The income of the spouse can be added if he/she is a co-borrower or a guarantor.
• Maximum age limit for LAP self-employed is 60 years and for Salaried is 58 years.

Documents Required

For Salaried Employees

• KYC Documents (Photos/PAN Card)
• Proof of Identity (Passport Copy/Voters ID card/ Driving License).
• Address Proof (Ration card Tel/Elect. Bill/ Rental agreement / Passport copy)
• Bank Statements(latest 6 months bank statement /Passbook)
• Latest salary slip or current dated salary certificate with latest Form 16

For Self - Employed

• KYC Documents (Photos/PAN Card)
• Proof of Identity (Passport Copy/Voters ID card/ Driving License)
• Address Proof (Ration card Tel/Elect. Bill/ Rental agreement / Passport copy)
• Bank Statements(Last 1 Year bank statement /Passbook)
• Last 3 Years ITR File with Balance Sheet and PL Statement.
• Last 5 Years Business Proof(Est.Registration/Tax Receipts)

Emi Calculator

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Interest % (Per Year)
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