Loan Against Property (LAP) offered by Lokmanya follows a simple documentation process. If you are a salaried or self-employed individual, you are required to submit the following documents along with the signed application form for Loan sanction.

• Aadhaar Card, PAN Card, Passport, Voter ID etc.*
• Salary Slips (for salaried individuals), Bank Account Statements, Income Tax Returns**
• Title Deeds, including chain of documents of the previous owners (if any), property approval plan and non-encumbrance certificate***
• Appointment letter, in case you are associated with a company for less than a year**
• Bank Statements of the last 6 months to check Loan repayment capability, if you have any ongoing Loan with the Bank**
• Passport size photographs of the applicant and co-applicant, to be affixed on the application form****
• Business profile documents for self-employed non-professionals.****

Here are the necessary eligibility requirements for securing a Loan Against Property :

• Age: Applicants should typically be between 21 and 65 years of age.
• Income: Stable income from employment or business is required to ensure repayment capability.
• Property Ownership: The property must be owned by the applicant, and it can be residential, commercial, or industrial.
• Credit Score: A good credit score (typically 650 or above) is preferred to qualify for a loan against property.
• Employment Status: Both salaried individuals and self-employed professionals/business owners can apply.
• Loan Amount: The eligible loan amount is usually up to 70-80% of the property’s market value, depending on the lender’s policy.