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Loan Against Property eligibility
Axis Bank provides Loan Against Property for salaried employees, self-employed individuals and self-employed professionals. Fulfil the required eligibility criteria based on your occupation and age to avail of the loan. Refer to the below mentioned Loan Against Property eligibility criteria to know more.
Eligibility
Individuals who are eligible for a loan against property:
Salaried individuals
- Any individual who is in permanent service in the government or a reputed company
- The applicant should be above 24 years of age at the time of loan commencement and up to 65 years of age at the time of maturity.
Self-employed individuals
- Any individual filing Income Tax returns can apply
- The applicant should be above 24 years of age at the time of loan commencement and up to 65 years at the time of maturity.
Self-employed professionals
- Professionals (i.e., doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretaries, and management consultants only) can apply.
- The applicant should be above 24 years of age at the time of loan commencement and up to 65 years of age or less at the time of loan maturity.
Lease Rental Discounting (LRD)
- All resident individuals can apply. The lessee must however be a company as defined under the Companies Act, 1956.
- Funding will be provided only against ready commercial property. The same will be restricted to 85% of the net present value of the future rentals or 50% of the value of the property, whichever is lower.
Check your borrowing limits
- Minimum Limit - ₹5,00,000
- Maximum Limit - ₹5,00,00,000 (based on Product / Variant categorisation)
- 20% - 30% margin in case of purchase of commercial property40% - 55% margin in case of loan against residential/commercial property
- 40% - 55% margin in case of loan against residential/commercial property
Submit the documents listed below and get a Home Loan / Loan Against Property sanctioned in 5 days!
| Mandatory Documents |
| |||||||||
| Proof of Identity | Any one of the following
| |||||||||
| Proof of Address | Any one of the following
| |||||||||
| Date of Birth Proof | Any one of the following
| |||||||||
| Signature Proof | Any one of the following
| |||||||||
| Proof of Income | Any one of the following
| |||||||||
| For Balance Transfer / Takeover of Loan from other bank / financial institution |
| |||||||||
| Lease Rental Discounting |
| |||||||||
| For applicants who are Partners in a Firm / Directors in a Company |
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| Other Important Documents and Checks |
| |||||||||
Documents to be submitted before loan disbursement
| Document | Checks & Controls |
|---|---|
| Loan Agreement and Annexures |
|
| National Automated Clearance House (NACH) mandate/ Standing Instruction (SI) form and Security Cheques (SPDC) |
|
| Loan Cover/ Insurance Details |
|
| Processing Fee / Equitable Mortgage cheques |
|
| Property Documents | Property documents as per type of transaction, according to bank's policy |
| For Balance Transfer / Takeover of loan from other bank / financial institution |
|
| Own Contribution Receipts |
|
| Sanction Letter |
|
| TDS |
|
| PSL Documents |
|
| Other Documents (to be collected if applicable) |
|
Click below to download the list of documents mentioned above.
List of documents required for Disbursement
List of documents required for Sanction
Disclaimer: This is an indicative list only. Additional documents may be asked for on a case-to-case basis.
APR Calculator
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and loan origination charges.
₹
6K
15Cr
%
8% 26%
M
12M240M
₹
0
50L
Loan origination charges should not be more than loan amount.
APR
8.00%
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