Features & Benefits

• Competitive interest rate
• Multiple assessment criteria
• Market valuation of properties
• Loans upto 10 years
• Top-up facility available
• Shift your loan from another bank & avail lower interest rate
• Pre-pay upto 80% of the loan with minimal charges

Eligibility

Salaried Individuals
• Loan amount – Minimum 10 lakhs
• Tenor – Minimum 12 months & Maximum 10 years
• Loans upto 65% of the property value
• Type of properties funded – Residential & commercial self-occupied and rented properties
• Minimum income – Rs. 30,000 gross salary per month (salary of upto 2 applicants can be added to meet the minimum income criteria)
• Minimum qualification – Graduate
• Minimum experience – 3 years
• Minimum age at loan sanction – 24 years Maximum age at loan maturity – Lower of 65 years of retirement age

  Additional criteria for Self-employed customers

• Constitution of borrowers
  1. Individuals/proprietorship concerns
  2. Partnership firms
  3. Private limited companies
  4. Closely held Public Ltd. Companies
• Minimum age at loan sanction – 23 years
• Co-applicant mandatory for all loans

Documentation

• Last 3 years ITR along with acknowledgement & computation of income OR latest salary slip in case of salaried customers
• Audited financials with tax audit report (audited for Turnover > 40 Lakhs and CA certified for Turnover < 40 Lakhs) – only for self-employed customers
• Last 6 months bank statement of main banking a/c
• Loan details
• Copy of property papers including latest sale deed
• Address/ID/signature proof/Pan card copy
• Filled in Loan Against Property application form
• Photograph of applicant and co-applicant

Forms

Account opening form – Loan against property