How many days it will take to get loan against property?

Disbursal in 4-days Simple Loan Against Property eligibility criteria, minimal documentation and doorstep service makes the loan application process a hassle-free one.

What is the process of loan against property?

A loan against property (LAP) is a secured loan that banks, housing finance companies and NBFCs provide against residential or commercial property. These loans are usually offered at a lower interest rate as compared to a personal loan or business loan and are disbursed at a reasonable time.

Is original documents required for loan against property?

Financial documents (any of the below):…Submit the documents listed below and get a Home Loan / Loan Against Property sanctioned in 5 days!

Aadhaar Card	Driving License	Voter ID
GOI Issued Photo ID	Govt Employee ID	Electricity Bill
Gas Bill	Telephone Bill (Land line)	Property Tax Receipt

Which banks provide loan against property?

Best Loan Against Property Schemes

Bank	Interest Rate	Tenure
HDFC Bank	8.00\% p.a. – 8.95\% p.a.	Up to 15 years
IDFC First	8\% p.a. onwards	Up to 20 years
Tata Capital	10.10\% p.a. onwards	Up to 15 years
Axis Bank	Up to 11.25\% p.a. onwards	Up to 20 years

Is ITR required for loan against property?

ITR is important for availing a home loan because: The lenders consider ITR as a crucial document to assess your level of income. Most lenders require ITR (last 3 years) to process your home loan application. If you are unable to provide ITR returns, your application may not be accepted.

Which is the best option for a loan against property?

Best Loan Against Property Schemes

Bank	Interest Rate	Tenure
State Bank of India	8.45\% p.a.- 10.00\% p.a.	3-15 years
ICICI Bank	8.35\% p.a. – 10.00\% p.a.	Up to 15 years
HDFC Bank	8.00\% p.a. – 8.95\% p.a.	Up to 15 years
IDFC First	8\% p.a. onwards	Up to 20 years

How much loan can u get for property?

The maximum amount with a Loan against Property that an applicant can avail depends on the employment status. Self-employed individuals can avail an advance of up to Rs. 3.5 crore while the maximum loan limit for a salaried individual is Rs. 1 crore.

Is loan against property a good idea?

However, some people find it difficult to decide which loan to apply for or whether a loan against property is a good idea. While some concerns may be justified, financial experts say that a loan against property is one of the most secured loans and carries a lower interest rate compared to other options.

Is 3 years ITR mandatory for home loan?

ITR is important for availing of a home loan because: Most lenders require ITR (last 3 years) to process your home loan application. If you are unable to provide ITR returns, your application may not be accepted. ITR is important to assess your creditworthiness and ensure that you will be able to pay your EMIs on time.

What are the documents required for loan approval?

An initial statement of personal and financial information required to approve a loan provided by the borrower and necessary to initiate the approval process for a loan. This document is required by lenders prior to loan approval, borrowers must sign original copy at time of closing.

What information do I need to apply for a mortgage?

1 your name, 2 your income, 3 your Social Security number (so the lender can pull a credit report), 4 the property address, 5 an estimate of the value of the property, and 6 the desired loan amount.

What information do I need to provide for a loan estimate?

Loan officers are required to provide you with a Loan Estimate once you have provided: 1 your name, 2 your income, 3 your Social Security number (so the lender can pull a credit report), 4 the property address, 5 an estimate of the value of the property, and 6 the desired loan amount. More

What are the eligibility criteria for a loan against property?

The Loan Against Property eligibility criteria vary from bank to bank, but the basic criteria remain fairly uniform. Investment proof (if any): fixed deposit, fixed assets, shares, etc.