Documents Required for Loan Against Property

A loan against property is a secured loan where you pledge your property as collateral to raise funds for personal or business needs. To apply for such loans seamlessly, you need to provide specific documents required for loan against property, which enable lenders to assess your eligibility and approve your application. Submitting an accurate loan against property documents ensures a quicker evaluation process and avoids delays.

Loan Against Property KYC Documents Required

Documents Types	Age Proof	Address Proof	Photo ID Proof
Aadhar Card	y	y	y
PAN Card	y	y	y
Passport	y	y	y
Voter ID		y	y
Rent agreement / current Address proof			y
List of Additional documents related to your existing loan		Forclosure letter \| List of documents submitted to the bank \| Statement of account

Income Documents Required

To ensure smooth processing of your loan application, please provide the required income proof documents. These documents help us assess your financial capacity and determine your loan eligibility

Income Proof
Salaried Individuals	Self-Employed Professionals	Self-Employed: Non-Professionals
Salary slips for the last 3 months	Latest two ITRs (personal and business) with computation of income	Latest 2 years ITRs with computation for individual applicants and co-applicants (if borrower is an individual)
Bank statements for 1 year	Advance tax challans (if available)	Bank account statements (current and savings accounts) for the last 1 year
iii. Latest Form 16	Latest two years of P&L accounts and balance sheets (with schedules), certified by a CA (both personal and business)	Latest 2 years of audited/CA-certified profit & loss accounts and balance sheets of the firm/company (if borrower is a firm/company)
	Bank account statements (current and savings accounts) for the last 1 year
Additional documents can be asked

FAQs & Support

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Does a Loan Against Property EMI Calculator provide amortisation schedules?

Some advanced tools offer detailed amortisation schedules, breaking down your repayment timeline into interest and principal components.

Where can I submit documents for a loan against property?

You can submit your documents either online via the lender’s portal or physically at the nearest branch. L&T Finance supports both submission methods for borrower convenience.

Is it possible to modify the loan amount and interest rate using the LAP EMI calculator?

Yes, you can easily adjust loan values and interest rates to compare different EMI options.

How does a Loan Against Property EMI Calculator work?

It uses a standard formula:
EMI = [P x R x (1+R)^N] ÷ [(1+R)^N-1]
Where P = Loan amount, R = Interest rate, and N = Loan tenure (in months).

Does my credit score affect the Loan Against Property interest rate?

Yes, credit scores significantly impact rates. A score above 750 usually ensures better rates, while lower scores attract higher rates.

What legal documents are needed for a loan against property?

Legal documents include property title documents and the documents of the property being mortgaged. These establish ownership and collateral value for the loan.

Is the loan against property calculator accurate in estimating my monthly EMI?

Yes, provided you input accurate values for loan amount, tenure, and interest rates.

What is a LAP EMI calculator?

A LAP EMI calculator is a digital tool that estimates the monthly instalment payable for a Loan Against Property based on the loan amount, tenure and interest rate.

What is a Loan Against Property?

A Loan Against Property (LAP) is a secured loan where you pledge your property as collateral. You can borrow funds against the market value of your property for business or personal or need.