Loan Against Property Policy

Property Registered GPASale Deed/Conveyance DeedNew Registeration of Property in Sub Registrar Office (Regularized Colony)
Loan Amount3-5Lac5-10Lac1 to 5 Lac 
Top of Loan Amountnot before 18 MonthNot before 12 monthsAfter submission of Original Property paper with Mufin
Rate of Interest20 % reducing18 % reducing21% reducing
Processing Fee2%2%3%
Loan Tenure1-3 years2- 7 years1- 4years
KYC of Customer/Co-applicantrequiredrequiredRequired
Banking1 year1 year1 year
Latest 2 years ITRrequiredMandatoryAffidavit/required
GST CertificateRequiredMandatoryRequired if available
Property PaperRegistered GPA and earlier chain requiredOriginal Sale deed and Conveyance deed requiredOriginal Sale deed required
Property OwnerTo be taken on loanTo be taken on loanTo be taken on loan
Lady co-applicantrequiredrequiredyes required
Cibil ScoreAbove 600 with no writ off and deliquencyAbove 600 with no writ off and deliquencyAbove 600 with no writ off and deliquency
Tele verificationPositivePositivePositive
Field Investigation of Residence and officeMandatoryMandatoryMandatory
Legal report and title search Requiredrequired in all cases from Advocatenot required
Valuation ReportRequired (Affidavit)required in all cases from valuatorAffidavit
Vetting ReportRequiredrequired in all cases from AdvocateOriginal to be collected from Sub registrar office
Personal DiscussionBy creditBy creditBy credit
Cash flow analysisMandatoryMandatoryyes
Pre-Sanction/Post Sanction DocsRequiredRequiredRequired
Loan to Income RatioNot to exceed 40%Not to exceed 40%Not to exceed 40%
Income to expense analysisYesYesyes
Current obligation/loan CheckMandatoryMandatorymandatory
Existing loan track checkYesYesyes
Cheque bouncing checking of last 6 month in bank statementYesYesyes
Registered MortgageNot ApplicableCase to case basisNot required
GuarantorCase to case basisNot Requirednot required