There are many documents needed to avail a loan against property. There are different documents for salaried individuals and also self employed professionals. The loan process gets easier when you are aware of all documents that need to be submitted. The documents will vary depending upon you being a salaried/self employed individual. The list will differ from lender to lender but the list below is generic and will be of help to you…
Documents Required for Salaried Applicant:
- You need a fully signed and filled loan against property application form.
- As per requirement, few Passport-sized photographs.
- You also will need Identity and signature proof. For this various document copies of Passport, Pan Card, Driving License, Voter ID card, Aadhar card and employee identity card in case of government employees will be required.
- Age and Address Proof in form of Bank statements, Rent Agreements, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax, Secondary school leaving certificate (class 10), birth certificate, Passport, Aadhar Card, pension payment order and receipt of LIC policy, will be necessary.
- The applicant will also need copies of the salary slips of last 3 months from application date.
- The applicant will also have to present the Form-16 issued by their current employer.
- The applicant will also have to submit Bank statements of last 6 months from application date.
- The applicant will also have to keep ready copies of details of all existing loans.
- You will also need to submit a cheque covering the administrative costs/processing fees incurred by the bank in processing the application.
- Finally, you will also need the property papers with OC and CC.
Documents Required for Self-Employed Businesspersons:
- You need a fully signed and filled loan against property application form.
- As per requirement, few Passport-sized photographs.
- You also will need Identity and signature proof. For this various document copies of Passport, Pan Card, Driving License, Voter ID card, Aadhar card and employee identity card in case of government employees will be required.
- Age and Address Proof in form of Bank statements, Rent Agreements, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax, Secondary school leaving certificate (class 10), birth certificate, Passport, Aadhar Card, pension payment order and receipt of LIC policy, will be necessary.
- The applicant will also need to submit copies of IT Returns of three years preceding the one in which loan is applied for.
- The bank/NBFC also requires copies of details of all existing loans that the applicant has taken.
- Lastly, you will also need the property papers with OC and CC.
Now that you know which documents are required to apply for loan against property, click here to check your eligibility.
