Loan Against Property
- Special offer for Salaried Customers - 11.0% Rate of Interest (RoI), Nil Prepayment Charges
- Special Offer for Self Employed Customers - Interest Rates @ 10.60% from banks
- Avail 100% OD facility on LAP - pay interest on daily amount used and save interest on current balance
- Get upto 70% of current market value of property as loan
- Avail LAP on Residential or Commercial Property
- High Eligibility; Multiple Methods to Suit Your Requirement
- Loan tenure upto 18 years, overdraft available
- As business loan by individuals, private companies and SME's
- For purchase of new property by pledging existing property
- For personal use - marriages, education, home renovation, emergency
Uses of LAP
- Lower rate of interest vs business loan or unsecured loan
- Higher loan amount upto 70% of market value in case of residential property and 60% in case of commercial property
- No additional collateral or guarantee required
- Loan can be taken in name of company/ firm even if the property is owned in individual name of partners/ directors
Key Benefits of LAP
Are you being asked by your bank/ NBFC/ Housing Finance Company (HFC) to pay prepayment penalty or foreclosure charges on your loan?
- You can now prepay property loans without any penalty or charges if:
- Your loan has been sanctioned at a floating rate of interest and not a fixed rate.
- The loan is sanctioned in the name of one or more individual borrowers and not corporate entities
- Neither the borrower nor the co-borrower is a corporate entity (ltd. or pvt. ltd. company) or a firm (partnership or AOP)
✔Property Documents
| Salaried | Self Employed | ||
|---|---|---|---|
| Possession Letter | ✔ | ✔ | |
| Registered Sale Deed/ Conveyance/ Lease Deed | ✔ | ✔ | |
| Past Sale Deeds Chain (each transaction in respect of this property since first allotment) | ✔ | ✔ | |
| House Tax Return/ Receipt | ✔ | ✔ | |
| Approved Building Plan | Case To Case | ||
✔Application Form and KYC
| Salaried | Self Employed | ||
|---|---|---|---|
| Application Form with photo and signed by Primary Borrower and Co-borrower(s) | ✔ | ✔ | |
| Identity Proof of Primary Borrower and Co-borrower(s) | ✔ | ✔ | |
| Residential Address proof of Primary Borrower and Co-borrower(s) | ✔ | ✔ | |
| Age Proof of Primary Borrower and Co-borrower(s) | ✔ | ✔ | |
| Office address – ownership/ lease / rent agreement/ utility bill | ✔ | ||
✔Income Proof
| Salaried | Self Employed | ||
|---|---|---|---|
| Last 3 years' Form 16, last 6 months salary slip, last 6 months' bank account statement showing salary credit | ✔ | ||
| Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA. Last 12 months bank account statement (self and business) | ✔ | ||
| Certificate and Proof of Business Existence | ✔ | ||
| Business Profile | ✔ | ||
✔Additional Documents for Loan Takeover / Transfer
| Salaried | Self Employed | ||
|---|---|---|---|
| Loan statement (loan track) and list of property documents (LOD) in possession of existing lender | ✔ | ✔ | |
| Last 12 months' statement of bank account from which loan EMI is paid | ✔ | ✔ | |
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds
Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
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4. ICICI Prudential Long Term Equity Fund
5. IDFC Tax Advantage (ELSS) Fund
6. Birla Sun Life Tax Relief 96
7. DSP BlackRock Tax Saver Fund
8. Reliance Tax Saver (ELSS) Fund
9. Religare Tax Plan
10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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