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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

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Loan against property

Business Standard 



Banks, firms work on strategy for transition from LIBOR to new benchmark
Another way to get LAP without income proof and ITR is to opt for a lower loan to value for the property

  • You can take a (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.

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First Published: Fri, February 28 2020. 07:28 IST

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