Step 1 of 3

    NEXT Skip


    Step 2 of 3


    Step 3 of 3

Get The Latest Updates


List of Documents Needed to Apply for a Loan Against Property

  • Highlights

  • Identity and address proof

  • Proof of income

  • Proof of ownership of the mortgaged property

  • IT returns of previous years

A loan against property is a secured loan where you need to pledge tangible assets like a plot of land, a flat/home or a business premise owned by you for availing funds. The money can be used to address various needs such as business expansion, making a down payment for a car/house and funding higher education of your children, among others.

The rates of interest on loan against property, and the documents required differ across lenders. If you are a salaried or self-employed individual, the following list of documents would help you avail a loan against property:

1. Address Proof

An address proof is an essential document required for availinga loan against property. You need to submit a valid address proof like passport, ration card, utility bill, bank account statement, voter card, LIC receipt, letter from a recognized public authority, etc. along with your application.

2. Identity Proof

Along with an address proof, you need to submit an identity proof like PAN card, Aadhaar card, passport, voter card, etc. However, certain lenders specify if they only consider a PAN or Aadhaar card as proof.

This also acts as an age proof as most lenders maintain an age threshold for borrowers. For instance, Bajaj Finserv offers loan against property to self-employed individuals aged between 25-70 years, and to salaried individuals aged between 33-58 years.

Additional Read: How Can You Avail Tax Benefits On Your Loan Against Property?

3. Income Proof

If you are a salaried individual, you need to submit the latest pay slips along with bank account statements for the past three months. On the other hand, if you are self-employed, you might need to submit bank account statements of the past 6 months.

This enables lenders to gauge your repayment capability within the pre-decided tenor.

4. Proof of Ownership of the Property to be Mortgaged

Whether you are salaried or a self-employed individual, you need to furnish property documents and maintenance or utility bills as proof of ownership. As a self-employed individual seeking a loan against property by mortgaging an office property, you may need to submit proof of existence of business.

Additional Read: How To Apply For A Loan Against Property: A Step By Step Guide

5. Past Income Tax Returns

Most lenders need borrowers, especially salaried individuals, to submit copies of their previous income tax returns. While some lenders may ask for copies of the IT return of the past couple of years, some might ask for 3 or even more. This is done to get an idea about your annual income and gauge your loan-repayment abilities considering other financial commitments.

A high loan amount coupled with competitive interest rates and a flexible tenor makes loan against property a prudent financing option for varied short and long-term needs.

Loan Against Property Application Instant Approval

Please enter your first name
Please enter your Last Name
Enter 10-digit mobile number
Please enter your Birth date
Please enter your pin code
Please enter your net monthly salary
Please enter your Annual Turnover 18-19

How would you rate this article

 Please let us know why?

What did you dislike?

What did you dislike?

What did you like?

What did you like?

What did you like?

Next up

How does your credit score affect Loan Against Property eligibility


How does your credit score affect Loan Against Property eligibility