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Documents Required for Loan Against Property

Loan Against Property Documents

Last Updated 23rd Sep 2020

  • Application Form: Signed application form with photo
  • Identity Proof: Aadhar card, PAN, Passport, Voter ID card
  • Address Proof: Aadhaar card, Voter ID card, landline bill, registered rent agreement, driving license.
  • Income Proof: For salaried, Form 16, salary slips and bank statements and for self-employed Form 16, salary slips and bank statements, ITR, business proof and business profile
  • Property Documents: Registered sale deed and house tax receipt and past sale deeds chain

Mortgage Loan Documents

Mortgage loan documents play an important role in the loan process. The bank collects the KYC, income and property documents from the borrower in order to verify the authenticity of the loan applicant and property and to ensure that accurate information is provided for the loan process. However, these documents vary among lenders depending upon the specific requirement. Here is the list of important documents that are required by the banks or financial institutions to process your loan against property application.

Application Form and KYC Documents for applying for property loan

Salaried Self Employed
Application Form with photo and signed by Primary Borrower and Co-borrower(s)
Identity Proof of Primary Borrower and Co-borrower(s)– PAN Card (Mandatory)
Residential Address proof of Primary Borrower and Co-borrower(s) – Any one of passport, Aadhaar card, voter I card, landline bill, registered rent agreement, driving license, bank statement or passbook or utility bill. Bills and statements must not be more than 3 months old
Office address – ownership/ lease / rent agreement/ utility bill

Income documents required for applying for loan against property

Salaried Self Employed
Last 3 years Form 16, last 6 months salary slip, last 6 months bank account statement showing salary credit
Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA. Last 12 months bank account statement (self and business)
Certificate and Proof of Business Existence
Business Profile

Property Documents for Loan Against Property

Salaried Self Employed
Registered Sale Deed/ Conveyance/ Lease Deed
Latest utility bill
Past Sale Deeds Chain (each transaction in respect of this property since first allotment)
Latest House Tax Return/ Receipt

Documents for transfer of loan against property

Salaried Self Employed
Loan statement (loan track) and list of property documents (LOD) in possession of existing lender
Last 12 months statement of bank account from which loan EMI is paid


How can I get a loan against my property without proof of income?

Getting a loan against property without proof of income is tad difficulty. However, there are still a few ways which may help one to avail the loan against property without income proof:

  • An individual can take the loan with a co-applicant. This provides assurance to the banks about one’s ability of repayment. The co-applicant will be considered as the main borrower since they have income proof.
  • A borrower must maintain the minimum balance amount in a savings account or have sufficient funds. Sound banking activities increase the chances of availing a loan.
  • If there is any valid reason for not having fixed income then the individual may justify it to the bank authorities. Valid reasons may increase the chances of loan approval.

How much loan can I get on my salary of 15,000?

The maximum loan amount that can be availed on a salary of ₹ 15,000 may range between 8 to 10 times your monthly income. So, you may become eligible for a maximum loan amount of ₹ 1,50,000 which can be repaid according to the repayment tenure that is comfortable to you.

Can I get a loan without a salary slip?

Most banks ask for the salary slips for document verification, however, individual can still avail a loan if they don’t have the salary slips by:

  • Requesting the employer the receipt of the payment made or income certificate which may be accepted by banks.
  • Individual may also onboard a guarantor whose income can be used for eligibility. However, it needs to be checked with the lender for such approvals.
  • The bank account statement is another proof that the financial institution considers for one’s income provided the salary should be credited to the respective account.

How can I get a loan immediately?

An individual may need urgent cash at any time for instance in case of a medical emergency. This is when instant loans come in handy. Instant loans are fast, need minimal paperwork, and are credited to one’s account with minimum delay. Further, with flexible EMI values and attractive interest rates, they relieve the burden.

Loan Against Property News - Sep 2020
  • 2020-09-22 : SBI offers up to 2 years repayment relief for home and retail loans
    State Bank of India announced the option to choose either a moratorium of up to 24 months or reschedule the instalments and extend the tenure by a period equivalent to the moratorium granted, for its retail customers. ​​​The bank is aiming to assist the customers amid the COVID 19 and economic slowdown.
  • 2020-09-18 : PSBs overtake private banks in 2020
    Public sector banks overtook private sector banks in offering retail loans like home, personal, gold, car, two-wheeler and education loan along with business and mudra loans. Since December 2019, PSBs overall lending has gone up to 57.7% as of June 2020, which is a jump of as much as 60 bpsover six months. During the same period, the share of private banks in overall lending has come down by 60 bps to 34.4%. The share of total loans outstanding that private banks have lost has been taken over by state-owned lenders.
  • 2020-09-15 : FM introduces Banking Regulation Bill in Lok Sabha
    FM introduced Banking Regulation Bill, 2020 in the Lok Sabha. The law strives to protect the interest of the depositors by bringing co-operative banks under the regulatory framework of RBI.
  • 2020-09-11 : State Bank of India targets 3x growth in retail, MSME gold loans
    SBI is targeting 3x growth in retail loans which includes home, personal, car, two-wheeler and gold loans along with MSME loans. The bank has planned to use YONO, its digital banking platform, to cut down on response time and scale-up activity.
  • 2020-09-11 : SBI to launch online application window for retail recasts
    SBI is planning to launch a portal on its website to enable its customers to apply for the restructuring of loans. Loans include retail loans like home, personal, gold, two-wheeler, and two-wheeler along with business loans. The portal is set for a September-15 launch; it will allow borrowers to ascertain their eligibility for recast in two to three days. SBI adds a security feature to its debit cum ATM cards
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