Is It Possible To Apply For A Loan Against Property If It Is A Joint Property?
Yes, you can apply for a Loan Against Property even if you have a joint ownership of the property with someone. You can apply for our Loan Against Property with the person with whom you own the property by making them a co-applicant.
Below are the eligibility criteria for Loan Against Property.
| Description | Salaried Individuals | Self-employed Individuals | Firm / Company |
| Eligible Borrowers | Salaries individuals that are employed with LLP Private Limited/ Public Limited companies |
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Partnership or Private Limited companies engaged in servicing, manufacturing, or trading. |
| Age | Borrowers must be a minimum of 18 years at the time of loan application and should be a maximum of 60 years old at the time of loan maturity | Borrowers must be a minimum of 18 years at the time of loan application and should be a maximum of 75 years old at the time of loan maturity | Proprietor/ key partner/ key director should be a minimum of 18 years of age at the time of loan application and 75 years old at the time of loan maturity |
| Income | Gross monthly income should be a minimum of ₹50,000 | Gross annual turnover should be a minimum of ₹3 Lakh | Gross annual turnover of a minimum of ₹10 Lakh |
| Experience / vintage | 3 years of total experience and 6 months stable employment with the current employer | Should be in the same business/profession for the last 5 years | Business vintage of at least 5 years in the same business |
| Citizenship | Borrowers must have Indian citizenship | Borrowers must have Indian citizenship | Borrowers must have Indian citizenship |
