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Kotak Bank Business Banking (Loan against Property)
Launching a new business requires a significant investment. Sometimes, not being able to make as much money as you had planned may cause you to think twice about what you decided. But there's no need to worry about it. You can get help for launching your firm with a loan secured by property. You can obtain a loan while using your property as collateral through a secured loan, often known as a loan against property or LAP.Powered By
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Kotak Bank Business Banking (Loan against Property)
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Here are a few factors
| Location | Delhi NCR |
| CIBIL Score | 700+ |
| Applicant | Any Self Employed |
| Applicant Age | 21 Year to 65 Year |
| Loan Amount & Tenure | 50
Lac-20 Cr (1 Year to 10 Year) |
| Login Fees | 3000/- |
| Rate of Interest & Type | 9.50%-11% (Reducing) |
| TAT | 4 days |
| Processing Fees | 0.5%-1% |
| Foreclosure Charges | 3% |
| Insurance | As per Age |
| Minimum Business Vintage | 3 Year |
| Lock In Period | 06 Month |
| Part Payment Allowed | Yes |
| LTV | (i) Residential-70% (ii) Commercial-65% (iii) Industrial-60% (iv) Plot-45%(v) if residential is rented or vacant then LTV will be 60% |
| Product | (i) Fresh Loan (ii) BT+ Top up (iii) Commercial & Industrial Purchase (iv) Lease Rental Discounting |
| Program | (i) Banking Program-5 Cr (ii) GST Product-5 Cr (iii) Income Program-20 CR (iv) Lease Rental Discounting-20 Cr |
| FOIR | 200% |
| Cautious Profile | No Cautious Profile |
| Negative Profile | (i) Politian (ii) Share Traders (iii) NBFC (iv) Police(v) Liquor Seller (vi) Real Estate (viii) Bullion Traders |
| Funded Property | (i)
Residential Property (ii) Commercial Property (iii) Industrial Property (iv)
Mall & Commercial Complex Property (v) Plot (vi) School (vii)Hosipital & Nursing Home viii) Hotel & Restaurent (viii) Godown & warehouse (ix) Gram Panchayat Property (x) Regluarized Colony (xi) Khasra Khatauni Property |
| Negative Property | (i)
Lease hold Property without PTM (ii)Stand Alone Basement (iii) Auction
Property (iv) Demolition List Property (v) Lal Dora Property (vi) PG Property (vii) Khasra & Khatauni Property (viii) Subject to Sale Deed Property (ix) GPA Property (x) Gift Deed Property (xi) Single Sale Deed Property (xii)Without MAP Property (xiii) Unapproved Freehold Property (xiv) Legal & technical not clear(xv) Stone Slab Property (xvi) Unapproved Farm House (xvii) Multi Tenanted Unit |
| Accepted Collateral | Other than Negative Property |
| Specific Property wise Funding Limit | Only School Property-5 Cr, Other Property 10 Cr |
| Any Specific Product for Professionals | No |
| USP | Do OD loan also |
Required Documents
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Utility bills, voter ID cards, passports,
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Aadhar cards, and driving licenses
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Proof of Income
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Salary slips for the previous six months
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For the previous two years, Form 16 and IT
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The salary account's bank account statement for the previous 12 months the last three years' audited profit and loss statements and balance sheets.
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ITR, including the last three years' income computations.
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A statement of all active bank accounts for the previous 12 months. Account statements and a sanction letter covering the last 12 months for each lending account.
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The business entity's letterhead features the company profile.
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AOA and MOA for Businesses.
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The Partnership Company's partnership deed.
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The Shop Act license for proprietorship
Eligibility Criteria
The applicant’s age should be within 21 to 70 years.
The applicant needs to have at least 700+ CIBIL Score.
Any salaried or self-employed individual can apply for this loan.
FREQUENTLY ASKED QUESTIONS
How are the loan eligibility criteria for loan against property decided?
Your eligibility for LAP is contingent upon your present and future financial and physical circumstances. Lenders typically give loans to borrowers who have the best chance of repaying them.
What is my eligible LAP amount?
Up to 80% of the market value of your property can be lent by Kotak Mahindra Bank.
How may my eligibility for a loan secured by property be improved?
You can increase your eligibility by raising your credit score, because borrowers who have a CIBIL score of 750 or higher are eligible for longer-term, less expensive loans.
Based on my paycheck, how much of an LAP loan am I capable of?
A loan amount well within 50–60 times your wage is the market standard.
Will Kotak Bank charge any login fee for my LAP?
No, Kotak Bank will charge no login fee.
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