Unlock up to Rs. 10.50 Crore within 72 hours using your property’s value—even without ITR. Submit basic ID, property papers, bank statements; opt for co-applicant or lower LTV for better approval.
How to get a loan against property without income proof?
Getting a loan against property without income proof is possible, though it may require meeting specific criteria. Lenders typically prioritise the value of the property you are mortgaging rather than your income. To secure a loan, ensure your property has a high market value, as this will be the main factor in determining your loan eligibility. While income proof may not be needed, you might still need to provide alternate documents, such as your property documents, ID proof, and bank statements. Be prepared for slightly higher interest rates and loan amounts that are proportionate to the property’s value.
Worried about getting a loan without an ITR? If you own a property, that asset can still open the doors to funding. With Bajaj Finserv Loan Against Property, your property’s value speaks louder than paperwork. By using your property as collateral, you can unlock access to large funds of up to Rs. 10.50 Crore*—it is a smart way to manage your finances with ease! Get funds within 72 hours* of approval.
Documents required to apply for a loan against property without income proof and ITR
To get a mortgage loan without income proof, you need to submit the following documentation.
- Duly filled application form
- ID proof
- PAN Card
- Voter’s ID
- Aadhaar Card
- Driving License
- Proof of address
- Aadhaar Card
- Voter’s ID
- Ration Card
- Passport
- Utility Bills
- Bank account statements for the last six months
- Cheque issued for processing fee payment
- Passport-sized photographs
Don't let the absence of an ITR stop your dreams. A loan against property can help you fund a business, manage medical expenses, or handle emergencies—with ease. Even if you lack income proof, your property can do the talking. Why wait? Get loan of up to Rs. 10.50 Crore* against your property within 72 hours* of the approval.
Key points to obtain loan against property without income proof
Obtaining a Loan Against Property (LAP) without income proof such as ITR or salary slips is possible if you meet certain conditions. The property itself acts as strong collateral, making lenders more flexible. To improve approval chances, borrowers can add a co-applicant with documented income, which strengthens repayment capacity. Submitting alternative financial documents like bank statements, rental income records, or business turnover proofs can also support your application. Lenders may offer a lower loan-to-value (LTV) ratio if traditional income proof is missing, meaning you can access a smaller portion of your property’s market value. A good credit score and a clean repayment history significantly boost eligibility. Additionally, salaried individuals in informal jobs or self-employed professionals without regular ITRs can still qualify by demonstrating consistent cash flow. With the right documentation and strategy, you can unlock the property’s value and access funds smoothly.
Tips to avail a loan against property without income proof
Utilise the following tips to improve your chances of availing a loan against property without income proof.
- Elaborate on your income to the lender’s representative
In the case of lack of income proof or ITR, you must specify your income source and why you do not have the necessary documents at disposal to the representative evaluating your property. The final decision is likely to depend on the information you provide, thus determining your annual income as well as repayment capacity. - Keep a check on your savings
Maintaining a high average monthly balance along with regular savings improve the chances of getting a loan against property approved. - Opt for a lower loan-to-value (LTV)
LTV or Loan to Value ratio is the percentage of the property’s market value offered as a loan by the lender. A high LTV of say, 80% provided by the lender means only the remaining 20% of the expenses are to be met by the borrower. Making higher down payments and availing a lower LTV improves your chances of getting the loan approved without income proof, and it posits positive borrower credibility. - Consider choosing peer-to-peer lending
Although available at higher rates of interest, peer-to-peer lending is another way of availing high-value financing in the absence of income proof or ITR.
Make sure to compare lenders and arrive at the best deal on a loan against property. Keep all necessary documents ready for streamlined processing of application. - Apply with a co-applicant
If your spouse, mother, father, brother, son or unmarried daughter is an earning member with valid income proof, you can avail a Property Loan with the co-applicant.
Additionally, ensure that you have enough savings in the bank. Generally, you should have an amount equal to at least two EMIs. With everything in order, approach Bajaj Finserv to discuss the loan terms available to you. You should also check the property loan rates on offer beforehand to plan your loan better. All of this information will help you prepare and you can take the time to learn how to apply for loan online. This simple process expedites loan processing and allows you to enjoy a hassle-free experience.
Short on documents but sitting on a valuable asset? You might not need extensive income proof after all. Bajaj Finance offers loan against property solutions that focus on what truly matters—your property’s worth. This secured loan allows you to access funds while retaining ownership, making it an excellent option for business expansion, education, medical expenses, or debt consolidation. With lower interest rates and flexible repayment terms, loan against property provides a smart way to unlock your property's financial potential. Get a loan of up to Rs. 10.50 Crore* with the option of interest-only EMIs during the initial tenure.
Frequently asked questions
Yes, self-employed individuals can get a loan against property without ITR by providing alternative financial documents such as bank statements, property papers, or business records to prove repayment capacity.
Generally, yes. Without ITR, lenders may perceive higher risk, leading to slightly increased interest rates. However, strong collateral, good credit history, or a co-applicant can help negotiate better rates.
Yes, many lenders accept bank statements as alternative proof of income. Regular transactions, healthy balances, and consistent cash inflow can strengthen eligibility even in the absence of ITR.
You can improve chances by adding a co-applicant, maintaining a good credit score, providing bank statements, reducing LTV ratio, and showcasing rental or business income as repayment assurance.
Alternative proofs include bank statements, rental income receipts, business turnover records, audited financial statements, salary slips from informal jobs, or co-applicant income documents to establish repayment capability and financial stability.
