Loan against Property

Attractive loan offers against property at affordable interest rates!
Loan against a property is a kind of mortgage loan available for both salaried and self-employed professionals to fulfill their personal as well as business goals. In this type of loan scheme, borrowers have to mortgage their property to secure the loan meant for personal as well as business purposes.
If you’re looking for similar loan options, look no further than Finance Mitra – your friend for life. Avail our easy and customized loan against property loans and fulfill all your financial needs within a few clicks.

Eligibility

• Indian residents
• Both salaried and self-employed can apply
• Maximum tenure is 10 years
• VAT returns for the last 12 months

Documents Required:
FOR SALARIED PROFESSIONALS:

• 2 months salary slip
• 6 months bank statement
• Form 16 and ITR for last 2 years
• Copy of Complete Property Paper With all Back chain

FOR SELF-EMPLOYED:
Note: All documents are self attested by director /Partner's
• Company pan card
• Copy of Pan card & Aadhar Card of all Director's / Partner's
• Copy of Electricity & Telephone bill (Office & Residence)
• Copy of last 3 years Audited Balance sheet, Trading and Profit & Loss
• Accounts with All Annexure and Income Tax returns with computations of Income of firm/Company
• Copy of 12 months Bank statement (Updated) of all exiting Current account
• Copy of All government Registrations regarding Business (i.e. Sales Tax, Services Tax & Gst No. etc.)
• Copy of Repayment schedule in case of any running loan(s) of firm/Company
• Copy passport size Photograph of all director's/Partner's
• CC AND OD SANCTION LETTER IF ANY
• Sale tax return from April016 to till date
• Copy of MOA /Partnership deed
• Copy of Last 2 Years Individual ITR & COI & Last 6 Month bank Statement of all Directors/ Partner's
• Copy of list of Director's & Share holding
• Copy of Complete Property Paper With all Back chain

Benefits of Loan against property from Finance Mitra

• Affordable rate of interest
• Simple and easy documentation process
• Planned loan process
• Quick approval and disbursal
• User-friendly repayment tenure
• Minimal service charges and fee

FAQ's -

Q1.What is Loan against Property?

A Loan Against Property is essentially a loan given against any property. The loan can be taken against fully constructed, residential, commercial properties and Industrial property (including Land) for business needs, marriage, medical expenses or any other personal needs.

Q2.Who can avail loan against Property?

Any Resident Indian Individual (salaried/ self-employed) can apply. The co-applicants can be close relatives, partnership firms, or even a Private Limited Company.

Q3.What are the income documents required for loan against property?

Salaried Customers need to submit their last 2 month’s salary slip, 6 months bank statement, form 16 and ITR and documents related to running loans.

Self-Employed customers need to submit complete set of ITR and Financials for last two financial years, 6 months Bank statement and documents related to running loans.

Q4.What is the maximum possible tenure?

We offer this Loan Against Property for max tenure of 10 years.

Q5.What is “Loan to Value”?

Loan to Value (LTV) is a term that is used to express the ratio of a loan to the value of the asset mortgaged. The loan is usually offered in the range of 60% to 70% of the market value of the property.

Q6.How long will it take for my loan to get approved?

It would take minimum of 7 working days after submission of required documents.

Q7.What kind of additional help do I receive?

You will receive expert legal and technical counseling that will help you make the right financial decision.