Loan Against Property
Fund your immediate or urgent needs with a loan against property. Get up to 65% of the value of your property as a loan to support planned needs such as business investment, home renovation, property purchase, family weddings, children's education, and more. Bankwise offers attractive interest rates for loans against property.
Features
High Loan Amounts: Get a loan worth up to 65% of the property's market value. High loan amounts also come with longer repayment tenures at attractive interest rates.
Loan Against Rent Receivables (LARR): Get up to 50% of the value of your commercial property as a loan against rental receivables. The amount depends on net rentals, the balance tenure of the rental agreement, and other factors.
Flexible Usage: Both residential and commercial properties* are accepted as collateral, and the loan can be used for various personal or business needs.
Easy Repayment Options: With competitive interest rates, you can repay your loan in low EMIs or choose our Dropline Overdraft Facility.
Transparent Processing: All charges are communicated upfront during loan processing. No hidden charges or fees.
Quick and Efficient Servicing: With our doorstep service, your Bankwise Loan Against Property will be processed quickly and easily.
Benefits for the Self-Employed: Self-employed individuals can benefit from customized loan options and specially designed programs.
Easy Debt Consolidation: Bankwise Loan Against Property is an excellent tool for debt consolidation.
Eligibility
- Salaried Individuals
- Self-Employed
- Fees & Charges:
- As per lender policy.
Documentation
For Salaried Individuals
- Proof of residence (Ration Card, Telephone Bill, Electricity Bill, Voter's ID Card).
- Proof of identity (Voter's ID Card, Employer's Card).
- Latest bank statement/passbook showing salary/income credited for the previous 6 months.
- Salary slips for the previous 6 months showing all deductions.
- Form 16 for the previous 2 years.
- Property documents to be pledged for the loan.
For Self-Employed Professionals/Individuals
- Certified Financial Statement for the previous 3 years.
- Proof of residence (Ration Card, Telephone Bill, Electricity Bill, Voter's ID Card).
- Proof of identity (Voter's ID Card, Employer's Card).
- Latest bank statement/passbook showing income credited for the previous 6 months.
- Property documents to be pledged for the loan.
- Additional Documents for LARR:
- Leave and License agreement copy.
- 12 months' bank statement where rentals are credited.
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