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Loan Against Property Eligibility

Say hello to financial well-being with our best-in-class Loan Against Property products.

Get the best value for your mortgage with competitive interest rates, flexible repayment options and easy access to a helpful and friendly support team.

How is Loan Against Property Eligibility calculated?

We offer simple and transparent procedures to find your eligibility for a loan against property. Your repayment potential can be assessed based on factors such as your income and that of your spouse, your age and qualifications.

Please find below some more details based on your type of employment.

Salaried:

  • You should be between 21 to 60 years of age.
  • You should be a salaried employee in an MNC, a private company or the public sector.
  • You should be a resident of India.
  • You should have a minimum CIBIL Score of 700.
  • You should have Income Tax Returns for the latest 2 years, KYC documents, Form 16, bank statements for the last 6 months and salary slips.
  • You should have complete documentation for the property you would like to mortgage.

Self Employed:

  • You should be between 25 to 65 years of age.
  • You should be a self-employed individual with a steady source of income.
  • You should be a resident of India.
  • You should have a minimum CIBIL Score of 700.
  • You should have Income Tax Returns for the last 2 years, KYC documents, Form 16, bank statements for the last 6 months and salary slips.
  • Your financials should show a steady source of profits over the past 2 years and should be audited by a chartered accountant.
  • You should have complete documentation for the property you would like to mortgage.

SME:

  • Only Indian SMEs are eligible.
  • You should have KYC documents, Form 16, bank statements for the last 6 months and income statements.
  • You should have Income Tax Returns for the last 2 years with a summary of audited income.
  • You should have financials that declare cash profits in last 2 years and your turnover should show a positive trend in current financial year.
  • Some percentage of your cash flow (depends on the type of LAP product you want to apply for) should support the required loan amount.
  • You should have complete documentation for the property you would like to mortgage.

DISCLAIMER: Please note that the above criteria are indicative, and by no means should be considered a substitute for professional advice. Actual eligibility criteria will depend on a variety of factors, including Fullerton India’s policies at the time of loan application. For more details, please Apply now or speak with a customer care representative.

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Have a query? You can contact us through any of the channels listed below.


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