{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.indusind.com\/iblogs\/manage-your-finance\/what-is-the-best-way-to-get-an-online-loan-against-property\/#BlogPosting","mainEntityOfPage":"https:\/\/www.indusind.com\/iblogs\/manage-your-finance\/what-is-the-best-way-to-get-an-online-loan-against-property\/","headline":"What Is the Best Way to Get an Online Loan Against Property","name":"What Is the Best Way to Get an Online Loan Against Property","description":"Summary: The growth trajectory of the loan against property sector in India reflects a growing awareness about the benefits of leveraging one\u2019s property for financial requirements. Hasten your loan against property journey by taking advantage of IndusInd Bank\u2019s online application process.  Technological progress has ushered in a generous measure of convenience in every aspect of...","datePublished":"2024-03-11","dateModified":"2024-03-21","author":{"@type":"Person","@id":"https:\/\/www.indusind.com\/iblogs\/author\/indusind\/#Person","name":"IndusInd Bank","url":"https:\/\/www.indusind.com\/iblogs\/author\/indusind\/","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/8169561f34fb61e737060f1a537a86e2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/8169561f34fb61e737060f1a537a86e2?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"IndusInd","logo":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","width":201,"height":86}},"image":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/get-online-loan.jpg","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/get-online-loan.jpg","height":400,"width":1060},"url":"https:\/\/www.indusind.com\/iblogs\/manage-your-finance\/what-is-the-best-way-to-get-an-online-loan-against-property\/","about":["Manage your Finance"],"wordCount":1130,"articleBody":"Summary: The growth trajectory of the loan against property sector in India reflects a growing awareness about the benefits of leveraging one\u2019s property for financial requirements. Hasten your loan against property journey by taking advantage of IndusInd Bank\u2019s online application process. Technological progress has ushered in a generous measure of convenience in every aspect of our lives. Banking processes too have undergone a revolutionary transformation, not only making financial transactions easier but also offering services like loans at the click of a button. As we embrace digitalization, the cumbersome paperwork that once defined the loan against property (LAP) process is now giving way to a more customer-centric approach. The lending process is significantly more efficient, leading to a seamless digital experience for every customer from start to finish.Understanding a Loan against PropertyA loan against property as the name suggests, is a secured loan where you pledge your property, commercial or residential, as collateral in exchange for a loan amount. The key advantages of a LAP include lower interest rates compared to unsecured personal or business loans, extended tenures, and a larger sanctioned amount. As a property owner, taking out a LAP is a convenient way to acquire funds for business expansion, emergency needs, or debt consolidation.The best way to get an LAP online is to ensure you meet the loan against property eligibility criteria and compile the required documentation before applying. IndusInd Bank offers its customers enhanced convenience with its online application process.Loan against Property Eligibility CriteriaThe following constitution borrowers are eligiblePrivate Limited CompaniesClosely held Public Ltd Companies that are not listed on any stock exchangePartnership firmsIndividuals and Proprietorship concernsLimited Liability PartnershipSalaried IndividualsSelf Employed Professionals\/Non-ProfessionalsThose employed permanently in any Government\/Semi-Government undertaking, Public Sector Enterprise, MNC, listed Public Limited company, or well-known private limited company which are CRISIL rated minimum BB+ OR have a turnover over 50 Cr., NRIs Architects, Chartered Accountants, Cost Accountants, Company Secretaries, Chartered Financial Analyst, Doctors, BDS, D.O.M.S, Masters in Business Administration (MBA, PGDM, MMS)and Engineers.The minimum age must be 21 years. At the time of loan maturity, maximum age is restricted to 65 years or retirement age,whichever is lowerThe minimum age requirement is 21 years \/ 18 years  At the time of loan maturity, maximum age to be 70 years \/ 75 years depending on Income criteria.. Any individual who files Income Tax returns can apply.Documentation RequirementsTo initiate the process of taking a loan against property, the following documents need to be submitted:                                                                    Individuals                    Non-Individuals                                                    Application form                    Application form with photograph                                                    KYC Documents                    Valid identity\/Residence\/Signature proof                                                    Proof of Income                     Last 3 months\u2019 salary slips \/ salary certificate and latest form 16 of latest 2 years\/ITR                        copy\/appointment letter\/Bank Statement reflecting Salary credits                    2 years of financials along with full schedules & audit report (Form 3CD & 3CB).                        Financials to be audited for T\/O > 40 \/60 Lakhs or else should be CA certified. Latest 2                        years ITR                                                                                                            letter\/Bank Statement reflecting Salary credits                    should be CA certified. Latest 2 years ITR                                                    Bank Statement                    Latest 6 months bank statements of your main CA\/SA\/CC\/OD account                                                    Property documents                    Copy of property documents                                                     Processing fee                     Processing fee cheque                    Processing fee cheque                                                Why Opt for an IndusInd Bank Loan against PropertyBenefits of an IndusInd Bank loan against property:Hassle-free application process, with quick disbursal time Flexible tenures for repayment, ranging up to 20 yearsConvenience of doorstep serviceBalance transfer optionOverdraft facilityHow to apply for a loan against property at IndusInd Bank:Head to the loan against property page on IndusInd Bank\u2019s websiteSelect the \u2018Apply Now\u2019 option and fill out the form with your name, contact number, email ID, and place of residence.You will receive an interaction ID. A bank representative will reach out to guide you through the next steps in the loan process.In ConclusionAs you navigate the digital realm for your loan requirements, reap the benefits of an online loan against property with IndusInd Bank for a smoother application process. Apply today.Share This:"}