Loan against property in Bangalore

Loan against property in Bangalore: Bangalore is a city where the cost of living is very high compared to other cities in the country; if you have a property in Bangalore you definitely have made an asset for a lifetime. Whenever in need you can unveil the hidden value of property and avail cash against it.

• You can make use of your property of any kind – residential, commercial, developer property, and plots as collateral to take a loan from your bank.
• You can avail loan against property in Bangalore which can be approximately 70% of the actual value of your property.
• Loan against property can be availed with very nominal ROI of 10.25% p.a. which is reasonably cheaper than any personal loan scheme would offer you, where the ROI is around 14% to 22% p.a.
• Loan against property can be availed with really long loan tenure of 15 years, so that you can make the repayment at your ease and convenience

Check Your Eligibility

Eligibility Criteria to avail Loan against Property in Bangalore
• For Salaried Individuals

☞Anyone who is a permanent employee in a government or a reputed organization
☞The applicant should be more than 24 years of age at the time of sanctioning the loan and up to the age of retirement.

• For Professionals

☞Professionals such as doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants can apply for loan against property
☞The applicant should be more than 24 years of age at the time of sanctioning the loan and up to the age of 65 years by the end of the loan tenure.

• For Self-employed Individuals

☞Any self-employed individual having a regular income can apply for loan against property
☞The applicant should be more than 24 years of age at the time of sanctioning the loan and up to the age of 65 years by the end of the loan tenure.

• Lease Rental Discounting (LRD)

☞All resident individuals can apply for loan against property in Bangalore.
☞The lessee should mandatorily be an organization as defined under the Companies Act, 1956.
☞Funding can be done only against ready commercial property and will be restricted to 85% of the net present value of the future rentals or 50% of the value of property, whichever is lower.

Documentation required to avail Loan against property in Bangalore:

• Proof of Identity – Voter id, DL, Pan Card, Adhaar Card, etc.
• Proof of Income – Latest Salary Slips, Form 16, Salary Certificate obtained by the employer, IT Return of last 2 years and computation of income for the last 2 years certified by a Chartered Accountant.
• Proof of Residence – Voter ID, Adhaar Card, Electricity Bill, Telephone Bill, LIC document, etc.
• Updated bank statement or passbook where salary or income is credited
• Guarantor form in case of guarantor
• Lease

How to Apply For Loan against Property in Bangalore?

Option to avail loan against property online through www.letzbank.com and all your troubles will be over online with just a click. Accessing online approach to avail loan against property will enable you to have a secure and safer transaction. With online approach to avail loans there is no chance that you lose any of your valuable documents. At Letzbank, we offer free services to our online applicants and customers.