Loan against Property (LAP) is a secured loan and provided against property as collateral. This loan is available against residential, commercial and industrial property. LAP facility availed for long tenures ranging between 5 to 15 years, allowing the borrower to repay in low installments as compared to personal loan and business loan. The rate of interest is also low as compared to unsecured loans so that the borrower gets time for business expansion and growth and keep scope for further funding in future with property appreciation. LAP is being provided to all kinds of entities like proprietor, partnership companies, private limited companies and even salaried customers. The loan amount depends on the valuation of the property and can be varied from 50% to 100% depending on types of property and concerned bank.
Residential Property:-
Self-Occupied
Vacant
Rented
65% to 100%
55% to 75%
55% to 75%
Commercial Property:-
Self-Occupied
Vacant
Rented
50% to 100%
45% to 75%
40% to 75%
Industrial Property:-
Occupied
40% to 80%
➤ Home loans are long term loans upto 25 years and loan amount can be 80% of the market value enabling customer to repay comfortably.
➤ The rate of interest is very low as compared to other loans making low emi for the customer.
➤ Property can be purchased jointly and income of applicant and co-applicants can be added for higher loan eligibility.
➤ Customer can avail tax benefits under 80C.
➤ Banks/NBFC'S keep original property papers till completion/closure of the loan.
Minimum Age for applying loan is 21 years and maximum age limit is 60 years for salaried customer and 70 years for self employed customer.
➤ ID proof, Residence proof of all applicants.
➤ Complete chain of property papers copy with sanctioned map of the proposed property.
➤ Salary slip, form 16/ITR, all Bank statements, all running loan details/documents etc. for salaried customers.
➤ Complete financials like ITR, Balance sheet, P/L, audit report and all annexure copy for self employed customers.
➤ Bank Statements for 6 months and all loan schedule copy.
➤ Photograph
➤ Company Profile
➤ Pan Card & Adhaar Card Copy
➤ Property Ownership Proof
➤ Office Address Proof
➤ Last 3 Years ITR + Computation and Balance Sheet with Audit Report and all Annexure
➤ Running Working Capital Sanction Letter and Loans Schedule
➤ GST Registration Certificate
➤ Last One Year GST Returns Copy
➤ Last Six Months Bank statement of all showing in balance sheet
➤ Last six months Saving Account Bank Statement of Applicant
➤ Company Profile
➤ Company Pan Card Copy
➤ Office Address Proof
➤ MOA & AOA with all form 32
➤ List of Directors and Share Holding Pattern attested by C.A. on letter head
➤ Last 3 years ITR+ Computation and Balance Sheet with Audit Report and all Annexure
➤ Running Working Capital Sanction Letter and Loans Schedule
➤ GST Registration Certificate
➤ Last One Year GST Returns copy
➤ Last six months bank statement of all showing in balance sheet
➤ Photograph of all Directors
➤ Pan Card Copy of all Directors
➤ Residence Address Proof of all Directors
➤ Last 3 Years ITR with Computation of all Directors
➤ Last six months saving account statement of all Directors
➤ Running Loan Schedule of all Directors
➤ Company Profile
➤ Company Pan Card Copy
➤ Partnership Deed
➤ Property Ownership Proof
➤ Office Address Proof
➤ Last 3 Years ITR+ Computation and Balance Sheet with Audit Report and all Annexure
➤ Running Working Capital Sanction Letter and Loans Schedule
➤ GST Registration Certificate
➤ Last One Year GST Returns copy
➤ Last six months bank statement of all showing in balance sheet
➤ Photograph of all Partners
➤ Pan Card Copy of all Directors
➤ Pan Card of all Partners
➤ Residence Address Proof of All Partners
➤ Last 3 Years ITR + Computation of Income with Financials of All Partner
➤ Last one Six Saving Account Statement of All Partners
We are authorized channel partners for some banks and non-banking financial companies only. Attached rate chart of different banks and Non Banking Financial Company's. It has been prepared solely for informational purposes and should not be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any transaction. The contents are based upon or derived from information generally believed to be reliable although no representation is made that it is accurate or complete and Sequoia accepts no liability of swastik Capital. This website is not responsible for any information related any bank and Non Banking Financial Companies.
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