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Loan Against Property

Here are a few factors

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Location 70 Km from Branch
CIBIL Score 650+
Applicant Any Salaried or Self Employed Person
Applicant Age 25 Year- 60 Year (Salaried), 70 year (Self Employed)
Loan Amount & Tenure 10 Lac to 4 Cr
(5 year to 15 year)
Login Fees 2359
Rate of Interest & Type 11.50% to 13.50% (Reducing)
TAT 15 Days
Processing Fees Physical
Foreclosure Charges 2%-4% 
Insurance 1%-4%
Minimum Business Vintage 3 Year
Lock In Period 12 Month
Part Payment Allowed Yes
LTV Residential Property-70%, COmmercial-60%, Industrial-40%
Product BT+Top Up, Fresh LAP, LRD
Program Low LTV-1 Cr (50% of Property Value), Banking Surrogate-2.50 Cr ,GST Program-4 Cr, Cash Rental-50 Lac
FOIR 70% of Salary, If applicant is receiving Cash Salary then Maximum 50K will be considered
Cautious Profile Police
Negative Profile Share Trading, Madarsa, Slaughter House, Politician
Funded Property (i) Residential
(ii) Commercial
(iii) Industrial
(iv) Plot
(v) Hotel & Restaurant
(vi) School in individual name
Negative Property 4th Floor an daove, Upapporved Freehold Property where any authority belongs
Accepted Collateral Funding to all Property except Negative Property 
Minimum Job Experience for Salaried Person 2 Year
Experience with Current Employer 3 month
Any Specific Product for Professionals No
USP 1. Funding in Dominated area
2. LAP to Cash Salaried person
3. Lal Dora Funding upto 1 Cr
Additional Funding to Gram Panchayat Property, Lal Dora, Sub-divided Property,Khasra Khatauni Plot,
Khasta Khatauni Purchase, Without MAP, Current Sale Deed, Khasra to direct registry,
GPA subject to sale deed, PG Property, Multi Tanented Unit-up to 25 tenant
Work Process

Save Your Time with a Simple Loan Process

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.

Right Documents - Easy Process

Required Documents to Apply for Piramal 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

Note : Piramal Bank Loan Against Property may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.

Apply for Loan
Leave Your Question

FREQUENTLY ASKED QUESTIONS

A Loan Against Property (LAP) is a type of secured loan that allows individuals to borrow money by mortgaging their residential, commercial, or industrial property.

At Piramal Finance, individuals can get a loan against their property for up to ₹2 Crores. However, the actual loan amount depends on several factors such as the value of the property, income, and credit score.

A loan against property can be used for any purpose, be it for personal or business needs. It can be used to fund education, marriage expenses, medical bills, home renovation, or to expand a business.

Residential, commercial, or industrial properties can be mortgaged for a loan against property. However, the property must be in the individual's name, and the ownership should be clear and marketable.

The eligibility criteria for a loan against property mainly depend on the individual's employment status and income. However, the individual must be at least 21 years old and a citizen of India.

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