DOCUMENTS REQUIRED FOR LAP FOR SALARIED APPLICANTS

Identity Proof: Identity proof such as Pan card, passport, driving license, voter’s ID, employee ID, Bank Passbook, Ration card.

Address Proof: Address proof such as passport, phone bill, electricity bill, gas bill, water bill, voter’s ID, Ration Card, LIC policy/receipt.

Residence Proof: Maintenance bill, Electricity bill, Property documents.

Proof of job continuity: Present employment certificate, Present Job appointment letter, Experience certificate.

Income Proof: Payslip, Income tax returns, Form 16, Certified letter from employer, Promotion letter.

Investment proof (if any): Fixed deposit, fixed assets, etc.

– Bank statement of salary account of the last 6 months.

– Copy of all assets/properties documents like sales deed, copy of the agreement, the latest maintenance bill.

– Advance processing cheque.

DOCUMENTS REQUIRED FOR SELF-EMPLOYED PERSON OR BUSINESSMAN

Address Proof: Aadhar card, Voters’ ID, Ration Card, electricity bill, telephone bill, passport, water bill.

ID Proof: Aadhar card, Voters’ ID, Ration Card, electricity bill, telephone bill, passport, water bill.

Ownership of residence proof: Property documents, electricity bill, maintenance bill.

Business existence proof: Sales deed/agreement, sales copy, copy of tax registration, company registration license.

Office address ownership proof: Property documents, maintenance bills, electricity bill.

Income proof: Last 3 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant

– Audited balance sheet and Profit & Loss accounts, including the tax audit report, if applicable.

Bank statement: Latest 1 year bank statement (both savings and current)

Copies of all property documents: Sale deed/copy of Agreement, share certificate (if society formed), maintenance bill.

Advance processing cheque: to process loan documents for sanction.

Passport size and colored photograph

Investment proof (if any): fixed deposit, fixed assets, shares, etc.

Existing loans: In case of any existing loan, need to submit sanction letter, payment track record

Professional Degree Certificate: in the case of professionals.

ELIGIBILITY CRITERIA FOR AVAILING LOAN AGAINST PROPERTY

– For salaried employees, the maximum age to avail this loan is 60 years.

– For Self-Employed individuals the maximum age to avail this loan in 70 years.

– Stability of income

– Property attributes

THE PHENOMENON FOR AVAILING THE LOAN AGAINST PROPERTY

– Application Submission

– Processing

– Documentation

– Property verification / validation

– Sanctioning of the loan

– Disbursement

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