Loan Against Property in Mumbai

Loan against Property (LAP) is the finest way to raise money as it offers a lowest interest rate as compared to other loans.

A loan against property is just that – a loan you get against a property you need to keep as collateral. This makes loan against property a secured loan. The borrower gives a guarantee of repayment using the property as the security.

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5 Things to Know About Loan Against Property in Mumbai

WHAT IS LOAN AGAINST PROPERTY?

Loan Against Property in mumbai is a secured loan in which residential, commercial or industrial property can be a mortgage to borrow funds from lending institutions. The same can be used for expanding the business, to meet wedding expenses, for child's education, etc.

WHAT WILL BE LOAN AMOUNT?

The loan amount depends on the current market value of the property at mumbai and the borrower's loan repaying capacity. Mostly, 60% to 70% of the market value can be availed as loan.

DOCUMENTS REQUIRED TO AVAIL LOAN AGAINST PROPERTY IN MUMBAI?

  • KYC (Know Your Customer) Documents: ID Proofs, Address Proofs, Signature Proofs, Photograph
  • Income Proof: Three months Salary Slip, 2 years Form 16 for Salaried or 3 years Income Tax Returns/Audit report for self-employed.
  • 6 months to 1 year Bank Statements.
  • Employment Proof/Business Proof
  • All Property related documents like Sale Deed, Approved plans, OC, CC, Share certificate, etc
  • Application form duly filled

TIME FOR PROCESSING LOAN AGAINST PROPERTY IN MUMBAI?

The processing time could be between 2 to 3 weeks depending on factors such as the financial position of the borrower, CIBIL report, promptness in providing documentation, etc.

MAXIMUM TENURE FOR LOAN AGAINST PROPERTY IN MUMBAI?

The maximum tenure for Loan Against Property is 180 months (15 years)

Why Loan Naka?

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Our motto is to process all the loans within its time frame. Thanks to our dedicated team for always keeping the customer first.

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We are here to make the process simpler by offering our services anytime anywhere, as per your convenience. We offer the best deal by negotiating with our bank/financial institutions partners.

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We help you to compare and select from our 20+ banks/financial institutions partners. Timely update on the status of loan is also given.

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