A loan against property is a type of secured loan in which you can pledge for the important assets including your home, land, or the business premise for the purpose of availing funds. You can make use of the loan amount for addressing important needs including the expansion of your business, making the down payment while buying a property or home, funding your children’s education, and various others.
Before applying for the loan against property, it is important to know about the documents required for loan against property in India.
Once you know the loan against property interest rates, you can go forward with applying for the same from a reliable loan provider like Bajaj Finserv. Here are some important documents that you should know about:
- Proof of Address including passport, ration card, ID card, driving license, bank account statement, and others along with the loan application.
- Proof of Identity including ID card like Aadhar Card, PAN Card, Passport, Driving License, and others along with the loan application.
- Proof of Income with relevant bank account statements for the past 3 months in case of salaried individuals. In case of a self-employed individual, you are required to provide bank account statements for the past 6 months.
- Proof of Property Ownership that you wish to mortgage
- Income tax returns of the past
Hope it will help you to Know about the important documents that are required while applying for a loan against property in India. After choosing best loan against property interest rates you must proceed further.