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||
||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|