Here are a few factors

Rating 4.6 /
Total - 261 ratings
5
169
4
79
3
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2
9
1
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Location PAN India
CIBIL Score 675+
Applicant Any Salaried & Self Employed
Applicant Age Any Salaried or Self Employed Person
Loan Amount & Tenure 10 Lac to No Limit
(1 Year to 7 Year)
Login Fees Nil
Rate of Interest & Type 9.50% to 12% (Reducing)
TAT 15 Days
Processing Fees Upto 1% of Loan amount
Foreclosure Charges NIL
Insurance Property Insurance
Minimum Business Vintage 2 Year
Lock In Period NIL
Part Payment Allowed Yes
LTV Upto 60% of Market Value
Product BT+Top UP, Fresh Loan, Seller BT, LRD
Program Income Program
FOIR 1. Salaried- 4-6 Time of gross annual Salary
2. Self Employed-4-5 time of average annual income of last 3 year 
Cautious Profile No Cautious Profile
Negative Profile No Negative Profile
Funded Property Residential Property, Commercial Property, Industrial Property, Plot, School, Hospital, Hotel, Mall, Godown
Negative Property Un-approved Property
Accepted Collateral Other than negative property
Specific Property wise Funding Limit NA
Any Specific Product for Professionals No
USP No Negative Profile
Additional 1. Chain of property must be clear Property chain for last 30 year
Right Documents - Easy Process

Required Documents to Apply for Indian Bank Loan Against Property

Salaried income documents

  • KYC of applicant & Co-Applicant
  • Last 3 Month Salary Slip of Applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 2 Year Form 16 of applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Appointment letter of applicant if available
  • Agreement to Sale if purchase case
  • Property Paper with complete chain of last 13 years
  • LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
  • Sanction letter of all running loan
  • Latest utility Bill if owned residence or rent agreement if rented
  • 2 Reference with contact details

Self Employed person documents

  • KYC of applicant & Co-Applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 3 year audited balance sheet of applicant
  • Last 3 year Tax audit report of applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Copy of GST registration
  • Copy of MSME registration
  • Copy of Last 12 month GST return
  • Agreement to Sale if purchase case
  • Property Paper with complete chain of last 13 years
  • LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
  • Sanction letter of all running loan
  • Debt Sheet
  • Latest utility Bill of residence if owned or rent agreement if rented
  • Latest utility Bill of Office if owned or rent agreement if rented
  • 2 Reference with contact details
  • Last 3 year Debtors & Creditors on letter head
  • List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP

Some Important Points

1. KYC Means
If Applicant is
  • Company-MOA, AOA, COI , PAN Card
  • Partnership Firm/LLP- Partnership Deed & PAN Card
  • Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
For Co-Applicant
  • KYC means  Adhaar Card, PAN Card, Passport Size Photo

Co-Applicant means in case of
  • Company : Directors
  • Partnership firm/LLP : Partners
  • Proprietorship Firm : Spouse of Proprietor
2. If LAP is applied with Government Bank then 30 year chain is required
3. If applicant is professional, then his professional degree is required

About Indian Bank Loan Against Property

Indian Bank presents a wide variety of banking services and offerings to satisfy the many and varied needs of its clients. People can borrow money through the company's loan against property and utilize the revenues for unforeseen purposes on both residential and commercial properties. However, the borrowed amount cannot be utilized for speculating. The Loan Against Property service offered by Indian Bank is a simple and quick process. The documentation required is minimal. In terms of both the interest rate and processing fees, it is quite profitable.

For your personal or corporate requirements, apply for an Indian Bank Loan Against Property with a maximum of Rs 5 crore and interest rates beginning at 10.5% p.a. With an Indian Bank, you may acquire a loan that is tailored to your needs, has a low processing cost, is easy to qualify for as a LAP, and has a term of up to 7 years.

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Indian bank offers a Loan Against Properties with attractive interest rates starting at just 9.50% p.a.
For general public 12.05% p.a.
For women 11.90% p.a.
Leave Your Question

FREQUENTLY ASKED QUESTIONS

Indian bank charges 1.17% of the total loan amount as a processing fee

No, there are no extra fees charged if you wish to foreclose on the loan. You can do the same after the first quarter.

Yes, Indian banks allow NRI individuals too to apply for a loan against property. However, the property that is being given as collateral should be in India.

Yes, Indian bank offer loans against property up to 75% of the value of the property currently.

Yes, you can include your spouse as a co-applicant in the loan, which can also help in increasing the loan amount.