Loan Approved in Minutes-Top 10 Loan Against Property Providers India

Financial troubles can knock anytime at anyone’s life at some point of time. Loans can prove to be the blessings in helping you fight cash crunch.  Considering, other several loan options loan against property can be the best one availed from loan against property providers India. 

These top loan against property providers India are providing easy and quick process to get a loan. Individuals can have an asset to offer as a security against the loan then it will not be a problem at all to get a loan. Whenever a person takes a loan, a security has to be kept in case he/she is not able to pay off the loan at a later stage within the allotted time period.

Furthermore; the loan against property providers India comes with an option of letting individual to keep a property, such as a house or a plot of land or anything of such likes, as the security, not previously used for similar purposes.

Top 10 Loan Against Property Providers India For Fiscal Needs

1.    HDFC Bank

HDFC Bank tops the chart when it comes to top loan against property providers India. It provides individuals Loan Against Property with maximum finance against the market value of your property. Furthermore; you can continue to occupy the property while they fund you for the healthy growth of your business.    

• The best part

1. No guarantors required
2. E-approval
3. Include top-up loan or even reduction of rates from time to time
4. Door step facility

• Documents required

1. KYC-PAN
2. Aadhar card copy
3. Address & ID proof
4. Income proof, bank statement and 1 photograph

• Eligibility criteria

1. Age suggested at least 21 and less than 60 for Salaried
2. Age should be at least 21 and less than 65 for Self Employed
3. Earning at least Rs.25,000 per month net income

2.   Kotak Bank

Kotak Bank popularity says it all. It tops the list of top 10 loan against property providers India. Furthermore; individuals can apply online for the loan to which property is used as a collateral to raise funds from the bank. The property being mortgaged can be residential property, commercial property, land, industrial property etc. Moreover; the loan amount is ascertained by individual banks and is based on the market value of the property.    

• The best part

1. No guarantors required
2. E-approval
3. Include top-up loan or even reduction of rates from time to time
4. Door step facility

• Documents required

1. Form 16 of last 2 years or Income Tax Returns.
2. Salary slips of last 3 months.
3. Last 6 months bank statement reflecting salary credits.
4. ID/ Age Proof – PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements.
5. Cheque for the Processing Fee.

• Eligibility criteria

1. Age suggested at least 21 and less than 65 for Salaried
2. Age should be at least 21 and less than 65 for Self Employed
3. Self employed person should be in business for a minimum of 3 years during which the business should be profitable. Kotak Bank will ask for ITRs of 2 years to consider you as eligible for LAP.
4. An applicant, whether a self-employed professional or self-employed non-professional, with a minimum annual income of Rs. 1.44 lakh as per his P&L a/c as certified by a CA can apply for this loan.

3.  ICICI Bank

ICICI bank is one of the leading names in top 10 loan against property providers India. Offering a wide array of financial services to the retail and corporate customers through variety of delivery channels. Offering a bunch of financial products, ICICI has left no stones unturned in being the most preferred lenders among the borrowers. ICICI Bank Loan Against Property is a multi-purpose loan that can be used for your business or personal needs.  

• The best part

1. No guarantors required
2. E-approval
3. Loans are issued at an interest rate ranges between 9.20% and 12.25%.
4. Loan Tenure are issued for a maximum period of 10 years.
5. Simple Documentation
6. Fast Approval
7. Door step facility

• Documents required

1. Form 16 of last 2 years or Income Tax Returns.
2. Salary slips of last 3 months.
3. Last 6 months bank statement reflecting salary credits.
4. ID/ Age Proof – PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements.
5. Cheque for the Processing Fee.

• Eligibility criteria

1. ICICI Bank will ask for ITRs of 3 years to consider you as eligible for LAP.
2. A person whether salaried or self employed with a minimum age of 21 years can apply for LAP.
3. The maximum age for a salaried individual is set at 70 years and for self-employed at 70 years.
4. Self employed person should be in business for a minimum of 5 years during which the business should be profitable.
5. The value of the property to be mortgaged is used to calculate maximum loan eligibility based on the maximum permissible LTV ratio which can range up to 60% depending on the type of property.

4.   State Bank Of India

State Bank Of India is one of the known names in top 10 loan against property providers India. The primary reason behind its soaring popularity is its competitive rate of interest. SBI Loan against property is a complete protection plan for your future planning and family. Offering all-purpose loan against mortgage loan which means the loan can be used for any purpose if the amount is below 25 lakhs.   

• The best part

1. Complete transparency in transactions of loans.
2. Easily loan disbursal from the largest branch network.
3. Lowest interest rates on loan at monthly/ quarterly/yearly basis.
4. Lowest Processing fee.
5. Zero percent prepayments on the property loans

• Documents required

1. Form 16 of last 2 years or Income Tax Returns.
2. Salary slips of last 3 months.
3. Last 6 months bank statement reflecting salary credits.
4. ID/ Age Proof – PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements.
5. Two passport size photographs
6. Cheque for the Processing Fee.

• Eligibility criteria

1. Applying for loan at smaller age, chances is higher for loan approvals
2. SBI offers loan against property for maximum tenure of 15 years if the borrower’s age does not exceed above 70 years for salaried & 70 years for self employed.
3. Ratio of loan amount to value of home is called as Loan to Value (LTV) ratio.
4. SBI gives maximum LTV of 60% for property loans depending upon market value of property.

5.   TATA Capital

TATA Capital is a trusted and customer- centric, one-stop financial services provider. It caters to the diverse needs of retail, corporate and institutional customers, across various areas of businesses. TATA Capital provides secured loans that are ideally aimed to provide financial aid towards personal or business needs by utilizing the value of an owned property.

Being India’s top loan against property providers India; furthermore; it offers mortgage loans in which property is used as a collateral to raise funds from a lending institution. The property being mortgaged can be residential property, commercial property, land, industrial property etc.   

• The best part

1. You can avail Loans ranging from Rs. 5 Lakhs to Rs. 5 Crores
2. You can repay your loan over a period of 12 months to 180 months.You can repay your loan easily through ECS or even post-dated cheques.
3. With quick online application and minimal paperwork, the representatives can process your loan in no time.
4. Attractive interest rates.
5. Pre owned Residential, Commercial, alternate properties (schools, hotels, hospitals, residential plots and industrial property) and loans for purchase of commercial properties.

• Documents required

1. Form 16 of last 2 years or Income Tax Returns.
2. Salary slips of last 3 months.
3. Last 6 months bank statement reflecting salary credits.
4. ID/ Age Proof – PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements.
5. Two passport size photographs
6. Cheque for the Processing Fee.

• Eligibility criteria

1. The individual must be earning at least Rs. 2.5 lakh per annum
2. The minimum age at the time of loan application should be 25 years and the maximum age at the time of maturity of the loan should not be more than 60 years
3. The individual must be working for at least last 3 years
4. Individuals employed in a Multi-National Company, Public Limited Company, large Private Limited Company, State Government, Central Government or PSUs can apply for the loan from Tata Capital

• Documents required

1. Address proof
2. Photo Identity proof
3. Two passport size photographs
4. Salary slip for 3 months
5. 6 months bank statement where salary is credited (Salaried)
6. Financial Statements Profit and Loss Account, Income Tax Return, Balance Sheet and Bank Statements for last 3 yrs ( Self Employed )
7. Property documents (Tax Receipts, Title Deed, Possession Certificate) etc.

• Eligibility criteria

1. Any person taking Citibank Loan Against Property should be in the age between 23 to 65 yrs at the time of application.
2. Any person who is an self-employed, professional, employee, Partnership/Private limited companies, HUF etc. Additonally; people with regular income can apply there is a clear property title

8.  Fullerton India

9.   Bajaj Finserv

• The best part

1. Pre-approved offers are offered with minimal documentation
2. Quick processing at your doorstep
3. Include a top-up loan or even reduction of rates from time to time
4. Hustle free loan disbursal process with minimal documentation.
5.  Requirements are completed in a within 72 hours
6. Get information resource or a tracker that you can access any time anywhere

• Documents required 

1. KYC
2. IT Returns & Balance Sheet & P/L Account statement for the last 2 years.
3. Business Continuity Proof for 5 years.
4. Bank Account Statements for the last 6 months.
5. Copy of property papers

•  Eligibility

1. You should be an Indian Resident
2. A person should at least 25 years of age when the loan is sanctioned
3. Self-employed professional with a regular source of income

10.   Union Bank Of India

The Union Bank of India offers Loan against Property called Union Mortgage to individuals. The loan is specifically designed to meet any sort of financial expenses both private and commercial in nature. In life we face circumstances where we cannot avoid few expenses. And these include personal expenditure of varied needs like marriage, higher education, medical emergencies, business travel or any unforeseen expenses. Therefore; the bank is believed to be one of the best loan against property providers India for such needs.

• The best part

1. Competitive rate of interest
2. Quick turnaround time
3. Less documentation
4. Transparent fee pricing
5. Processing charges are 0.50% of the loan amount
6. There is NO prepayment penalty

Documents required

1. A government issued proof of Identity
2. A proof of address
3. Bank Statement of the Last 12 months is required to avail loan against property
4. A proof of income which varies according to the class of the individual.
5. The Title Deed of the property showing the ownership
6. Photographs for application
7. Proof of payouts that can include loan repayment statement, if applicable, an LIC policy of the applicant or other valid proof accepted by the bank.

• Eligibility criteria

1. Indian national owning non-agricultural property.
2. Minimum age – 18 years and maximum age – 70 years.
3. Applicant and co-applicants should be filing Income Tax return.
4. Individual, either singly or jointly with other family members viz. father, mother, son, unmarried daughter and/or spouse, who have regular sources of income as co-applicants.
5. All the owner(s) of the property have to join in as co-applicant(s).
   Siblings, i.e. brother-sister, brother- brother, sister-sister can be permitted as a applicants/co-applicants subject to the property must be in the joint names of the siblings.
   Partnership firms & Proprietary concerns.
   NRIs are also eligible for mortgage loan