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Startup Counter

LOAN AGAINST PROPERTY

When you offer a property you own (whether residential or commercial) as collateral to take a loan, it is known as a Loan against Property. It

loan-against-property
introduction

INTRODUCTION

When you offer a property you own (whether residential or commercial) as collateral to take a loan, it is known as a Loan against Property. It is a popular type of loan to take as it is cheaper than a personal loan and offers a larger loan amount over a longer repayment period. It is similar to a Personal loan in that you can use the loan amount for any purpose – like debt consolidation, business expansion, education expenses, family or medical emergency.

advantage

BENEFITS

DOCUMENTS REQUIRED

Salaried EmployeesSelf Employed/Professionals
1. A copy of any of the following as proof of residence:
• Ration Card
• Telephone Bill
• Electricity Bill
• Voter's ID Card
1. Certified Financial Statement for the previous 3 years
2. A copy of any of the following as proof of identity:
• Voter's ID Card
• Employer's Card
2. A copy of any of the following as proof of residence:
• Ration Card
• Telephone Bill
• Electricity Bill
• Voter's ID Card
3. Latest Bank Statement/Passbook from where you can show a salary/income being credited for the previous 6 months 3. A copy of any of the following as proof of identity: • Voter's ID Card • Employer's Card
4. Salary slip for the previous 6 months showing all deductions 4. Latest Bank Statement/Passbook from where you can show a salary/income being credited for the previous 6 months
5. Form 16 for the previous 2 years 5. Copies of all the property documents of the concerned property to be pledged for the loan
6. Copies of all the property documents of the concerned property to be pledged for the loan

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