Loan against Property (LAP) is also known as 'Home Equity
Loans' and is a kind of loan against the security of one's property. Loan against Property is considered to meet the financial needs of a person who
before now has a house, which is free from any burden.
In other words it actually predicts - a loan given or paid
against the mortgage of property. One can now take a loan against one's self
occupied housing or commercial property, to increase the business, plan a dream
wedding, or fund one's child's education and much more.
•
You are an Indian Resident
•
You are at least 25 years of age when the loan
is sanctioned
•
You are a self-employed professional with a
regular source of income
•
The minimum loan amount is Rs.5 Lakh
Documents required:
•
ID proof (PAN Card, Driver's license, Voter ID,
Passport, Aadhar)
•
Address proof (Electricity bill, Telephone bill,
Ration card, Bank statement, Credit card statement)
•
Passport Size Photo
•
3 month's Salary slips
•
3 month's Bank statement
•
Last 2 years form 16
•
Sale Agreement
•
Property documents
