Features at Glance

• Loans from R20 Lacs onwards depending on your needs,
• Borrow up to 60% of market value of the property,
• Flexibility to choose between an EMI based loan or an overdraft,
• High tenure loans for ease of repayment,
• Attractive interest rates,
• Simple and speedy processing,
• Loan for salaried, self-employed individuals & Businessman, Loan for Personal & Business Use also,
• Loan for Personal & Business Use also.

Advantages of taking a Loan Against Property:

1. Cheaper than Personal Loans: It works out to be much cheaper than a personal loan, which is usually issued at interest rates in the region of 16% - 21%.
2. Longer Loan Tenure: The tenure for a Loan Against Property is usually longer than that for a personal loan. Generally, LAP is given for a maximum tenure of 15 years.
3. Lower EMI: Since the rate of interest is lower, many times, LAP Equated Monthly Installments (EMI) turn out to be cheaper than those under personal loans.
4. Simple documentation and Fast Approvals: LAP being a secured Loan has comparatively faster approvals and minimal documentation.

Loan Against Property can be taken for following purposes:

• Expanding your business,
• Get your child married,
• Send your child for higher studies,
• Fund your dream vacation,
• Fund Medical Treatments.

      In nutshell, Loan Against Property is a secured multi-purpose loan with larger tenor and lesser rate of interest.

Documents:

Common Documents-

• 2 Photographs each applicant & co- applicant.
• Passport of each applicant & co- applicant.
• Utility Bill of office and residence (latest month) each applicant & co- applicant.
• Pan Card Copy each applicant & co- applicant.

Income Documents-

• 2 years ITR, computation of income, P&L, Balance sheet, +all Annexure & schedule, Dr. & Cr. List. (self & CA attested)
• 2 years ITR, computation of income, P&L, Balance sheet of individual.
• Last 6 months bank statement of individual.
• Last 12 months bank statement of the company, and all the EMI reflection if any loans going on as per the Balance Sheet.
• Sanction letter of all Loans & OD/CC (if any).
• Sales & Purchase Summery April – 2011 – Till Date
• Dr. & Cr. List April – 2011 – Till Date

Additional Documents-

• MOA & AOA copy / Partnership Deed.
• List of Directors/ Partners  & Shareholder
• Pan card copy of Company
• Business Proof (Shop & Establishment Certificate, VAT, Sales Tax, Service Tax, IEC )

Property Documents-

• Sales deed
• OC & CC
• Share Certificate
• Approved Building Plan