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Eligibility Criteria for Loan Against Property

Although eligibility criteria can vary in different banks but some common factors are followed by all the banks. Take a look –

FOR SELF EMPLOYED INDIVDUALS

  • Your savings, income, debt obligations.
  • Your repayment track record for other credit cards, loans etc.
  • Value/ Cost of the property mortgaged.

FOR SELF EMPLOYED

  • The person should be self-employed.
  • Minimum age is 24 and maximum age is 65.
  • Applicant should have his own office or residence.

FOR SELF EMPLOYED PROFESSIONALS

  • Applicant should be in the business for minimum three years.
  • Minimum age limit is 24 and maximum age limit is 65.
  • The current residence place should be in occupancy of the applicant from minimum 3 years.

  FOR SALARIED

  • Applicant should have an experience of three years.
  • Minimum age is 24.
  • Maximum age at the time of closing of loan should be 60.
  • Minimum net salary should be 20,000.
  • Applicant should have his own residence.

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