Loan against property: Here's a snapshot of rates offered by various banks

Add a co-applicant to improve your chances of increasing loan amount

• You can take a Loan Against Property (LAP) not only against constructed residential or commercial properties but also against a plot of land.

• Some lenders allow you to get LAP without income proof and income-tax return (ITR), but you will have to specify your income source and explain why you do not have the necessary documents.

• If you maintain a high average monthly balance in your savings account, it will work in your favour, as it will show the lender you have good financial habits.

• If you add a co-applicant to your LAP, you stand a better chance of increasing the maximum loan amount you can avail.

• Another way to get LAP without income proof and ITR is to opt for a lower loan to value for the property.