Rarely would there be a person who has not experienced cash crunch in his life. It is on occasions like these that one most feels the need of loan against property. There can be no denying the fact that loan against residential, commercial or industrial property are great help and go a long way in arranging for finance at a time when one most need it.

Loan against property, it must be understood, is secured loan and therefore can be availed at lesser interest rate than unsecured loans. The amount that one can avail depends on various factors like market value of the property, the credit score of the applicant etc.

However, one will do well to realize that loan against property can be prepaid as well. However, there are some lenders that charge prepayment amount while some do not. The applicant should therefore carefully analyze the terms and conditions of the loan so that he understands every aspect of the contract before opting for the lender.

IndiakaLoan.com – Friend Philosopher And Guide

It is here that people face problem as it is not possible for any individual to analyze the terms and conditions of the lender and understand its intricacies. It is here that IndiakaLoan.com, India’s most trusted facilitator for loan against property comes to fore and helps its clients in laying hands on the best possible lender whose offer would best compliment the requirements of the applicant.

The company offers expert and professional advice to those looking for loan against property. It manages the entire gamut of loan process which makes it very simple and hassle free for the applicant. The company has tie-ups with 40+ banks and NBFCs which makes it very easy for it to suggest a lender whose offer will best compliment the requirement of the applicant.

Who Can Avail Loan Against Property Through IndiakaLoan.com

To avail loan against property you will have to fulfill the following criteria.

  • The applicant must be an Indian National.
  • He/she must have attained the age of 21 years at the time of applying for the loan.
  • He/she must be holding a job or should be employed in the present business for a specific number of years.
  • He/she must be earning a specific amount and possess the monthly repaying capacity.
  • The applicant must have a good credit history as well as a proven track record of timely EMI and card bill repayment. These will not only help in securing a loan against property at lower interest rate but will also help in cutting down on loan application processing time thereby speeding up the process.

Document Checklist for Availing Loan against Property

Let’s have a look at the documents required for loan against property are:

For Salaried Individuals

  • Application form with photographs duly signed by applicant and all co-applicants
  • Identity and residence proof (Aadhar Card, Voter ID Card).
  • Last 1 year of bank statements of current & savings account of all applying individuals and/or companies
  • Last 6 months salary slips
  • Log in fee – Cheque in favor of particular Bank/NBFC
  • Form 16 / Income Tax Returns
  • Last 3 years’ income tax return with computation of all applying individuals and/or companies
  • Educational Qualification
  • Complete property documents chain along with the map
  • Sanction letter of all running loans in the name of applying individual and/or company
  • Last 1 year running loan bank statement track

For Self-Employed Professionals

  • Application form with photographs duly signed by applicant and all co-applicants
  • Identity and residence proof (Aadhar Card, Voter ID Card).
  • Last 1 year of bank statements of current & savings account of all applying individuals and/or companies
  • Log in fee – Cheque in favor of particular Bank/NBFC
  • Form 16 / Income Tax Returns
  • Last 3 years’ income tax return with computation of all applying individuals and/or companies
  • Last 3 years’ CA Certified / Audited Balance Sheet and Profit & Loss Account
  • Complete property documents chain along with the map
  • Sanction letter of all running loans in the name of applying individual and/or company
  • Last 1 year running loan bank statement track

For Self-Employed Non Professionals

  • Application form with photographs duly signed by applicant and all co-applicants
  • Identity and residence proof (Aadhar Card, Voter ID Card).
  • Last 1 year of bank statements of current & savings account of all applying individuals and/or companies
  • Log in fee – Cheque in favor of particular Bank/NBFC
  • Form 16 / Income Tax Returns
  • Proof of business existence and business profile
  • Last 3 years’ income tax return with computation of all applying individuals and/or companies
  • Last 3 years’ CA Certified / Audited Balance Sheet and Profit & Loss Account
  • GST Certificate
  • Last 1 year’s GST track
  • Complete property documents chain along with the map
  • Sanction letter of all running loans in the name of applying individual and/or company
  • Last 1 year running loan bank statement track
  • Company MOU/AOU

 Talented and experienced team, able leadership and the passion to help people ensure that IndiakaLoan.com gives its best to the clients and impresses them with the commitment and quality of its services.