Loan Against Property
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Loan Against Property Eligibility

Say hello to financial well-being with a Loan Against Property product from Fullerton India.

Get more from your mortgage loan product with competitive interest rates, flexible repayment options, and easy access to expert advisors. We offer a variety of benefits to help you meet your financial commitments without the stress. With online account management, you can find a quick overview of your loan product and access a wide range of services from wherever you are.

Ready to apply? Our team is available on call, email, and chat to respond to any queries regarding property loan eligibility.

How is Loan Against Property Eligibility calculated?

At Fullerton India, Loan against Property eligibility is usually calculated based on the repayment capacity of the borrower. Repayment capacity can be ascertained based on factors such as income, age, qualifications, spouse's income, etc.

Please find below some more details based on employment type.

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 the Income tax Returns for the latest 2 years, KYC documents, form 16, bank statements of up to 6 months and salary slips.
  • You should have the full documentation pertaining to 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 the Income tax returns for the latest 2 years, KYC documents, form 16, bank statements of up to 6 months and income statements.
  • Your financials should show a steady source of profits over the past 2 years and should be assessed by a CA.
  • You should have the full documentation pertaining to the property you would like to mortgage.

SME:

  • Indian SMEs only.
  • Latest 2 years ITRs, KYC documents, form 16, bank statements of up to 6 months and income statements must be present.
  • Latest 2 years ITRs and computation of audited income financials will be collected.
  • Financials must declare cash profits in last 2 years and turnover should show positive trend line 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 the full documentation pertaining to 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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