Explore Your Options
Indian Bank Loan Against Property
The main benefit Indian banks offer to their customers is longer loan tenures with small EMI amounts. The Indian Bank offers LAP with quick processing time and minimum paperwork.
Powered By
Indian Bank Loan Against Property
Apply Now
Indian Bank Loan Against PropertyHere are a few factors
| 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 |
Indian Bank Loan Against Property EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 9 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,745 |
| Total Interest | ₹ 4,942 |
| Loan Amount + Interest | ₹ 104,942 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 24,165 | ₹ 2,070 | ₹ 26,235 | ₹ 75,835 | 24.16 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 75,832 | ₹ 2,873 | ₹ 78,705 | ₹ 3 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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
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
- 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
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.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
| For general public | 12.05% p.a. |
| For women | 11.90% p.a. |
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.
ReferLoan is a Marketplace which connect Financial institutes with prospective users through its integrated approach. ReferLoan helps users to increase their CIBIL Score and finding the best Financial Products from the available Financial Institutions. ReferLoan is the only Market Place which helps the users to explore the opportunities in Debt as well as in Equity.
Copyright 2023 © Referloan.in.