Loan Against Property

Realise your dreams through Nagrik Bank Loan Against Property. Whether you are salaried or self-employed, Nagrik Bank Loan Against Property helps you to realise the true value of your property to meet your business and personal needs.

Product Features

• Loan amount of upto Rs.10 Crores
• Convenient loan repayment option of upto 180 months
• Both residential and commercial property accepted as collateral
• Avail loan upto 80% of your property value
• Minimal documentation and faster approvals
• Attractive interest rates
• Fixed rate for first three years available

Eligibility & Loan Criteria Required

• Loan Against Property can be availed by salaried individuals, self-employed individuals, self-employed professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies.)
• Loan Against Property can be offered to Indian Residents only

SALARIED INDIVIDUALS

• Minimum gross salary of Rs.150,000 per annum
• Minimum age at loan sanction – 23 years. Maximum age at loan maturity – lower of 60 years or retirement age

SELF-EMPLOYED INDIVIDUALS AND PROFESSIONAL

• Minimum net profit as per latest year ITR / Financials of Rs.150,000
• Minimum age at loan sanction – 23 years. Maximum age at loan maturity – 65 years

List of Documents Required

• PAN Card – For Individual / Partnership Firm / Company
• Identity Proof – Any one (e.g. Voter ID / Driving License / Passport)
• Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
• Business Continuity Proof – Any one document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / COI / Partnership Deed)
• Passport Size Photographs

List of Financial Documents Requirement

FOR SALARIED

• Last 2 years Income tax returns or latest 3 month salary slip or latest form 16 issued by the employer
• Six months bank statement required with salary credits

FOR SELF-EMPLOYED INDIVIDUALS / SOLE PROPRIETORSHIPS

• Latest audited ITR and financials for the last 3 years (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
• Bank statements from the borrower’s main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet

FOR SELF-EMPLOYED PROFESSIONALS

• Latest audited ITR and financials for the last 3 years (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
• Bank statements from the borrower’s main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
• Professional qualification certificate and Degree certificate for professionals (Doctors, Architects, Chartered Accountants etc.)

FOR PARTNERSHIP FIRMS / PRIVATE LIMITED COMPANIES

• Latest audited ITR and financials for the last 3 years (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
• Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
• Partnership Deed and partnership authority letter for partnership firms
• Memorandum and Articles of Association and Board Resolution from the company
• Certificate of Incorporation (COI) for companies
• Latest shareholding patterns for Private Ltd. / Public Ltd. companies