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Documents Required for Loan Against Property

Loan Against Property Documents

Last Updated 23rd Jan 2021


  • 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
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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

FAQs

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.

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Loan Against Property News - Jan 2021
  • 2021-01-19 : Bank of Maharashtra reported Q3 profit up of ₹154 crore
    Bank of Maharashtra reported a net profit of Rs. ₹154 crores in the third quarter ended December 31, 2020, against ₹135 crores in the year-ago quarter. Advances that include home, personal, car, two-wheeler and gold loan along with business and mudra loans increased by 12 per cent year-on-year to ₹1,04,904 crore. Further, deposits which include FD and Rds increased by 14% to ₹1,61,971 crore. The share of the low-cost current account, savings account (CASA) deposits improved to 50.91% of total deposits from 50.51% in the preceding quarter.
  • 2021-01-08 : IndusInd Bank reported 11% growth in Q3 deposits
    IndusInd Bank posted a 3.2% quarter-on-quarter growth in the net advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans in the December quarter. Further, the bank also posted a 5% quarterly growth in deposits which includes fixed and recurring deposits.
  • 2021-01-08 : HDFC Bank posted a double-digit increase in deposits and advances
    HDFC Bank reported a double-digit increase in deposits and advances in the third quarter of the fiscal year. The bank advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans hiked by 16% to Rs 10.82-lakh crore as on December 31, 2020. Further, the bank’s deposits rose by 19% in the third quarter of the fiscal to Rs 12.71-lakh crore. The CASA ratio is reported at around 43% as of December 31, 2020.
  • 2021-01-06 : Yes Bank reported 1.3% quarterly growth in loans and advances
    Yes Bank registered 1.3% quarter-on-quarter growth in loans and advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans to Rs 1.69 lakh crore during the December quarter. Deposits which include fixed and recurring deposits grew 7.7% to Rs 1.46 lakh crore. Further, the current account and savings account deposits grew 12.6% to Rs 37,973 crore.
  • 2021-01-06 : Federal Bank’s gross advances rise 6% YoY in Q3
    Federal Bank reported a 12% increase in total deposits which includes fixed and recurring deposits for the third quarter of the fiscal. Further the bank reported an increase of 6% rise in gross advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans. CASA ratio stood at 34.48% at the end of December 31, 2020, from 33.38% as on September 30, 2020.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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