Kotak Bank Loan Against Property

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About Kotak Bank Loan Against Property

Kotak Bank Loan Against Property

“Unlock” the ‘potential’ in your property by availing a ‘Bank Loan’ Against your existing Property. A LAP is a type of loan that is given against the security of your existing property. Interest rates on loan against property (LAP) are lower as compared to interest rates on other consumer loans.

 

Key Features: Kotak Bank Loan Against Property

  • High loan eligibility for businessmen.
  • Loans amounts range starts from Rs.10 lakh to Rs.3 crore
  • Loans against residential properties and commercial properties as well

 

Features & Benefits: Kotak Bank Loan Against Property

  • One can use this type of loan for various purposes like funding existing business, debt consolidation, emergencies, child education, etc.
  • If you are an entrepreneur, at Kotak, we do not assess your loan eligibility on the foundation your financial reports alone. We believe in you and your business verdict while knowing the characteristics of your company and relevant factors. This overall knowing allows us perform out an economical remedy that will go with your specifications. And not just that, you can also utilize of Kotak Commercial Property Loans that help your company develop.
  • Loans against residential properties and commercial properties: Loan against property feature is also available for your residential as well as commercial properties, for loan amounts range starting from Rs.10 lakh to Rs.3 crores.

                                                   

Eligibility & Documentation: Kotak Bank Loan Against Property

Individuals can use Loans, either completely or together. Entrepreneurs of the present residence, in regard of which the mortgage is being desired, will have to be ‘co-applicants’. However, the ‘co-applicants’ need not be ‘co-owners’. Particular qualifications requirements are as follows:

For self-employed professionals:

  • Min. annual income must be Rs.1.44 lakh as per the P&L.
  • Min. gross annual income must be Rs.1.44 lakh.
  • Min. 21 yrs of entry age.
  • Max age at the time of loan maturity is 65 yrs.
  • Firm or company should have been in operation for the last three yrs.
  • Firm or company should be making cash profits for the last two yrs.

For self-employed non-professionals:

  • Min annual income should be Rs.1.44 lakh as per the P&L.
  • Min 21 yrs of entry age.
  • Max age at the time of loan maturity is 65 yrs.
  • Firm or company should have been in operation for the last 3 yrs.
  • Firm or company should be making cash profits for the last two yrs.

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