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August 26, 2022
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Kabia allows you to buy or sell shares through Direct Share Plans (DSP).
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While making your application for a loan against property (LAP), there are certain documents that you will need to furnish. As is the case with any type of loan, the lender needs those documents to assess and verify your application.
These loan documents would indicate your identity, financial well-being, the purpose of the loan, the details and status of the property raised in collateral, and other details. Since LAP involves collateral, there will be more paperwork required than in unsecured loans.
You would have to provide all the essential documents necessary for a LAP. These include your registration, mortgage deed, etc. However, the more records you furnish, the stronger your application becomes!
In the case of joint borrowers, all the individual applicants have to present their documents and run their proposals with each other to make sure there are no discrepancies.
At KABIA, we provide our applicants with a checklist of documents. The mortgage loan checklist may differ for each individual. However, we have two generalized categories. Let us look at them.
| Mandatory Documents | |
|---|---|
| Application Form | For Proprietor/Firm/Company |
| Compulsory document | Pan card |
| Identity proof | Driving License/ Passport/ Voter’s ID /Aadhaar card (Voluntary) |
| Address Proof | Address proof for Both Office and Residence; Passport/Driving License/Voter’s ID/ Utility Bill/Bank Statement/Bank Account Passbook (Updated and no more than 3 months old) /Aadhaar card(Voluntary) |
| Ownership proof | Agreement Copy / Electricity Bill / Maintenance Bill with share certificate / Municipal tax bill/Share certificate |
| Business continuity proof | Shop and Establishment certificate/Tax registrations-VAT/Service tax/GST registrations |
| Firm Constitution | MOA/AOA/Partner Ship Deed/GST Registration Certificate/Form 32 for knowing latest directors |
| As per Program | |
| Financial | 1. Latest three years audited financials. |
| 2. Last three years Tax Audit Report. ( Form 3CB + 3CD in case of proprietorship and partnerships and Form 3CA + 3CD in case of Companies) | |
| 3. GST | |
| 4. Breakup of all secured and unsecured loans | |
| 5. As on date List of Directors and Shareholding Pattern | |
| 6. Existing loan Sanction letters and their corresponding EMI reflecting bank statement for last 1 year . | |
| Banking | Last 1 year bank statement (Business Accounts) |
| Mandatory Documents | |
|---|---|
| Application Form | For Salaried |
| Compulsory document | Pan card |
| Identity proof | Driving License/ Passport/ Voter’s ID /Aadhaar card (Voluntary) |
| Address Proof | Address proof for Both Office and Residence; Passport/Driving License/Voter’s ID/ Utility Bill/Bank Statement/Bank Account Passbook (Updated and no more than 3 months old)/Aadhaar card (Voluntary) |
| Ownership proof | Agreement Copy / Electricity Bill / Maintenance Bill with share certificate / Municipal tax bill/Share certificate |
| Relationship Proof | Relationship Proof – If same cannot be proved from KYC documents submitted |
| As per Program | |
| Financial | 1. Latest 3 months’ Salary Slips |
| 2. Latest Form 16 | |
| 3. Employment Proof (Appointment Proof) only if current employer name does not match with that of the Form 16 submitted | |
| Banking | Latest 6 months Bank Statement reflecting Salary as well as existing EMI repayment |
Lending institution’s charge a documentation fee to process and act upon the documents that the applicant has sent. You will have to pay the documentation charges at the time of submission. For a LAP, these charges are INR 10000/- + GST + statutory dues.
If required, you can also change the documents you have provided in your LAP loan later upon payment of a nominal fee.
Before you make a loan application, you should have complete knowledge about it too. When it comes to a LAP, there are other charges apart from your interest rate. We have also provided these details on our website.
Our Loan Against Property services helps you the facility to borrow money against your real estate assets. Apply for a Loan Against Property from the safety and convenience of your home or office.
Let your property, be your financer. We pay back with ease of convenience.
Once you avail a Loan Against Property, you can access your Loan Against Property account online. You can download account statements, interest certificates, request for Loan Against Property disbursement and do much more.
With minimal documentation, applying Loan Against Property through KABIA is quick and hassle free. Our experts are available to help you in your loan application process and offer you assistance every step of the way.
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