Loan Against Property

Loan against property is one of the best loan options for people that own commercial or residential properties. By keeping the property as collateral, you can get a loan against property easily. When you apply for a loan against property via Ruloans, you get a loan that is hassle free with faster approvals and lowest interest rates. Below we will mention how you can benefit from taking a loan against property via Life Care.

Documents required

Life Care provides Loans against property to customers that have high fund requirement. With our loan solution, we help you unlock the true potential of your property. We do this through a hassle free process and the least amount of documentation because it is very important for people that want a loan to not be troubled or be in tension when applying for a loan.

Salaried individual's eligibility for loan against property

  • If you want to be eligible for a loan against property via Ruloans you need to be one of the following: You must either be an individual who has a government job or working for a reputed private company.
  • If you want to be eligible for a loan against property via Ruloans, you need to be among these age groups: Above 24 years of age at the time of loan commencement and/or up to the age of superannuation. Self-employed individuals eligibility for loan against property

Self-employed individuals eligibility for loan against property

  • If you want to be eligible for a loan against property via Ruloans you need to be an individual who has filed his/her Income Tax returns regularly.
  • If you want to be eligible for a loan against property via Ruloans, you need to be among these age groups: Above 24 years of age at the time of loan commencement and up to 65 years at the time of loan maturity.

Self Employed Professionals eligibility for loan against property

  • If you want to be eligible for a loan against property via Ruloans, you need to be one of the following: Professionals (i.e. Doctors, Engineers, Dentists, Architects, Chartered accountants, Cost accountants, Company secretary, and Management consultants only)
  • If you want to be eligible for a loan against property via Ruloans, you need to be among these age groups: The applicant should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity.

List of documents

Compulsory Documents that are required for submission - Loan application form & PAN Card of the loan approver.

Identity Proof: You must submit any one of the following: Passport/Voters ID/Aadhar/Driving License.
Address Proof: You must submit any one of the following: Voters ID/Aadhar/Driving License/ Electricity bill/Gas bill/Telephone bill.
Date of Birth Proof: You must submit any one of the following: Passport/PAN Card/Aadhar/Driving License/ Birth certificate.
Signature Proof: You must submit any one of the following: Passport/PAN Card/ Banker's verification.
Income Proof: You must submit any one of the following for each salaried/self employed.
For Salaried: 3 months pay slip
6 months bank statement showing salary credits
Last 2 years Form 16 or employment continuity proof
For NRI Salaried: 3 months pay slip
Appointment letter/contract letter
6 months Domestic NRE/NRO account statement
6 months International salary a/c statement
Valid visa copy/OCI card
Passport copy
For Self-employed individuals/professionals: 2 yrs ITR, P&L, Balance sheet with Chartered Accountant's signature
Tax Audit Report (If your Gross Turnover Exceeds Rs 1 Cr or Gross Receipts Exceeds 25 Lac)
6 months bank statements of personal and business accounts
Business continuity proof for a minimum of 3 yrs
For Balance Transfer: 12 months loan account statement
Existing loan details and 6 months bank statement