Your Checklist of the Loan Against Property Documents Needed When Applying

Today, if you are in need for high-value financing to meet your big-ticket expenses, the chances of you opting for a loan against property to fulfil such funding needs is high. Thanks to their increasing ease of availability and growing popularity, these advances come with borrower-friendly terms along with attractive features that make them suitable borrowing options. Some of the reputed lenders have also simplified the loan application process and reduced the approval as well as disbursal time, making them a suitable funding option at short notice too. The only catch here is that you need to be suitably eligible for the advance.

Interest rates on loans against property are affordable and competitive too, as well as significantly lower than unsecured personal financing options. The availability of financing for al personal and professional expenses only makes them a favourable funding avenue. However, as they are long-term advances creating significant financial responsibility on the borrower, lending institutions confirm eligibility for these advances with detailed paperwork. You must thus keep all loan against property documents needed ready before applying to ensure streamlined and fast-tracked application processing. Below is a detailed checklist to help you prepare.

Documents Required as Proofs of Identity and Address

Both salaried and self-employed individuals can apply for a loan against property if they fulfil the necessary eligibility criteria. When it comes to paperwork, the documentation requirement can nevertheless vary for the two due to the differing sources of income and occupation that they are involved with. However, when it comes to KYC compliance, involving individual and address identification, the document requirement remains standard for both. Below is a look.

  • Proof of identity
  • PAN card
  • Voter ID card
  • Driving License
  • Aadhaar card
  • Passport
  • Any other photo identity proof issued by an authorised body
  • Proof of address
  • Aadhaar card
  • Passport
  • Voter ID card
  • Ration card
  • Utility bills like for electricity, water and broadband
  • Any other document with address issued by an authorised body

List of Other Loan Against Property Documents

Other loan against property documents that salaried and self-employed individuals need to submit when applying for the loan include the following.

  • Income documents for salaried applicants

The income documents for salaried applicants would include salary slips, bank account statements for three previous months, Income tax Return filed for two previous years, Form 16 in the absence of PAN and any other document specifying income like rent receipt, investment profit, and the likes.

  • For self-employed applicants

In the case of self-employed individuals and business owners. The income document requirement would comprise bank account statements for six previous months, Income Tax Return filed for two to three previous years as required, income computation certified by a CA, proofs of any secondary income audited financial statements like balance sheet and profit and loss statement of the company.

  • Property documents

As a property loan is provided against eligible property ownership, you must also provide loan against property documents that establish such ownership. The standard property documents for availing this mortgage loan include the following.

  • A residential or commercial property’s title deed along with any other previous chain of property agreement or document entered into
  • CC or occupation certificate along with an approved plan in case of a property purchase in a society
  • Encumbrance-free ownership proof for the concerned property; which shall also include an NOC from the builder or any previous lender if a loan was availed beforehand on the same property
  • Other essential paperwork needed

You also need to complete necessary paperwork as and if needed by the lender for a property loan approval. Some of them include – 

  • Payment receipt for property purchase
  • In case a salaried applicant’s current employment is less than one year. He/she must also obtain an appointment letter or employment contract issued by the employed, whichever is applicable
  • In the case of self-employed applicants, certificates of professional qualification, if any, are also needed
  • If you have availed any loan previously, you must also present proof of timely repayment of the advance. That shall not be lesser than for a stretch of 6 months
  • Passport-size photograph/s

While this was the standard list of loan against property documents that lenders usually ask for, you may be required to furnish other documents as and when asked for depending on the financial institution selected.

Furnish all the necessary documents along with the filled up loan application form for the application processing to begin. Make sure to enter all the relevant personal, employment and financial details accurately to experience minimum hassle in application processing with improved chances of fast-tracked approval. Make sure to confirm the loan against property document requirement from your selected lender from their dedicated website online for a better picture before proceeding to apply.


Hero FinCorp is a diversified financial services provider in India. We are an associate company of Hero MotoCorp Ltd. Hero FinCorp Limited (HFCL) was incorporated in December 1991 as Hero Honda FinLease Limited. After the restructuring of our parent company Hero MotoCorp Limited (formerly Hero Honda Motors Limited), HFCL also changed its name to Hero FinCorp Limited in July, 2011.

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