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LAP

What is a Loan Against Property?

A Loan Against Property(LAP) is a secured loan that is sanctioned against the asset pledged as collateral. This asset can either be an owned land, a house, or any other commercial premises. The asset remains as collateral with the lender until the entire loan against property amount is repaid. LAP helps you to purchase or maintain a home renovation, land Purchase, and all types of Business needs.

Eligibility Criteria for Loan Against Property.

Credit History
Banking Relationship
Market Value of Property
Occupation and Income
Nationality
Title of Property

List of Documents Required for LAP

Personal Documents:-

1. 2 photo each of applicants (Applicant and Co Applicants)

2. Pan Card photo copy of applicants (Applicant and Co Applicants)

3. AADHAR copy of applicants (Applicant and Co Applicants)

4. Residence Telephone & Electricity bill (Latest) Applicant and Co Applicant)

5. Office Telephone & Electricity bill (Latest) Applicant and Co Applicant )

6. Sanction letter (if any loan taken)

7. Bank Application form duly signed.

All above documents should be self-certified and clear copies.

Income and Property Documents:-

1. Last 3 yrs. Income tax papers (SARAL,computations, Balance Sheet,Profit and Loss account with all schedules and Form 3CA and Form 3CD with financials of applicants (Applicant and Co Applicant) Self Certified and CA certified

2. Last 12 months Bank statements of applicants (Applicant and Co Applicant) Self Certified

3. Business Continuity Proof /Certificate of Practice (GST Certificate/Establishment Certificate/SSI Certificate/Factory License) Self Certified

4. Sale agreement with Stamp duty, Registration receipt & Floor plan of the property

5. Previous all Sale agreement with Stamp duty & Registration receipt of the property (if any)

6. Share certificate with back side Xerox of the property and Society Registration copy. Self-Certified

7. OC and BMC approved plans of the property.

8. Company/Entity profile Self Certified

9. Processing Fee Cheque

Franking Charges 0.3% will be applicable on final loan amount*
All the above documents should be self-certified and clear copies.

*Conditions apply
*Bank reserves the rights to call upon additional documents at its discretion.