Loan Against Property
Fulfill your financial needs with the help of your property. Whether you are salaried or self-employed, RBL Bank Loan Against Property helps you to realise the true value of your property to meet your business and personal needs.
Key Benefits
-
Get a loan amount of up to INR 10 Crores*
-
Enjoy a convenient loan repayment option of up to 180 months
-
Residential, Commercial & Industrial properties are accepted
-
Avail a loan of up to 75% of your property value
-
Minimal documentation and faster approvals
-
Avail attractive interest rates
-
Overdraft facility available
*Loan approval at the sole discretion of RBL Bank limited | T&C Apply
Variant: Dropline Overdraft against Property
Manage your fund requirements for business needs with the Drop-line Overdraft Against Property and pay only for what you use. Drop-line Overdraft Against Property is an overdraft facility against property as collateral for self-employed customers.
-
Drop-line Overdraft limit of upto INR 10 Crores
-
Drop-Line overdraft tenure up to 15 years
Eligibility
- 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 is offered to Indian Residents only.
Salaried Individuals
- Minimum gross salary of INR 1,50,000* per annum.
- Minimum age at loan sanction: 23 years | Maximum age at loan maturity: lower than 60 years or retirement age.
Self-Employed Individuals and Professionals
- Minimum net profit as per latest year ITR/Financials of INR 1,50,000*.
- Minimum age at loan sanction: 23 years | Maximum age at loan maturity: 65 years.
- PAN Card: For Individual/Partnership Firm/Company
- Identity Proof: Any one Official Valid Document*(e.g. Voter ID/Driving License/Passport)
- Address Proof: Any one Official Valid Document*(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
- Collateral related documents
*Applicable KYC guidelines as shared by regulator from time to time to be followed
Financial Documents Required
For Salaried:
- Last 1 years Income tax returns / Form 16 issued by the employer.
- Latest 3 month salary slips.
- 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).
- Last 12 months Bank account statements of all applicants whose income is considered.
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).
- Last 12 months Bank account statements of all applicants whose income is considered.
- 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).
- Last 12 months Bank account statements of all applicants whose income is considered. 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/Public Ltd. companies.
Both residential and commercial property is acceptable for Loan Against Property. The property may be self-occupied, industrial or rented. Mixed use property is also acceptable.
Yes. You can transfer your existing Loan Against Property from any other financier to RBL (Balance Transfer) and avail of additional refinance.
We fund upto 75% of the property value.
In case of salaried applicants, salary of upto 2 applicants can be clubbed. In case of non-individual applicants, salary of partner/director can be clubbed along with the income of the firm.
No. There is a separate surrogate program for LAP where other parameters would be considered instead of the applicant’s income.
Yes, you can prepay the loan availed with applicable charges. Please refer our schedule of charges for more detail.
Note:
- Co-applicant is mandatory for all loans.
- Terms and Conditions apply.
- All Loans are at the sole discretion of RBL Bank.
- RBL Bank will notify you about the loan decision in approximately 14 working days from the date of receipt of the completed application form and all the required documents.
- The customer shall ensure that in case there is any update / change in residence / contact information / employment submitted to the Bank at the time of availing Loan facility and thereafter, as necessary: he / she shall submit to the Bank the update of such documents within 30 days for the purpose of updating the records at the Bank's end.
You may also be interested in
Business Loan
Unlock your business's potential with our personalized loan solutions. Enjoy competitive interest rates and flexible terms...
Personal Loan
Get the financial flexibility you need to achieve your goals with our personal loans. Our competitive interest rates and f...