Yes Bank Loan Against Property - Eligibility & Documentation

Eligibility
Salaried

  • Minimum Income – Rs.3 Lakhs Per Annum
  • Minimum Age – 23 Years, if income of the applicant / co-applicant is considered, 21years & if income of the applicant / co-applicant is not considered
  • Maximum Age - 60 Years, if income of the applicant / co-applicant is considered & 70 years, if income of the applicant / co-applicant is not considered
  • Experience – 6 months in current employment, 3 years in total employment

Self Employed

  • Minimum Income – Cash Profit of Rs.4 Lakhs Per Annum
  • Minimum Turnover – Rs.15 Lakhs per annum for service providers / commission income, Rs.10 Lakhs per annum for doctors, Rs.60 Lacs for non service providers
  • Minimum Age – 23 Years, if income of the applicant / co-applicant is considered & 21years, if income of the applicant / co-applicant is not considered
  • Maximum Age - 65 Years, if income of the applicant / co-applicant is considered & 70years, if income of the applicant / co-applicant is not considered
  • No of years in business / profession – minimum 3 years

 

Documentation

  • Proof of Identity and Signature
  • Proof of Address (Office & Residence)
  • Income Documents:
  • Salaried: Latest 2 salary slips and last 2 years IT Returns / Form 16
  • Self Employed Professionals: Last 2 years IT Returns with computation of income, audited Balance Sheet and Profit & Loss account including tax audit report if applicable and proof of turnover vide latest sales / service tax returns
  • Self Employed Businessmen / Retail SME Enterprises: Last 2 years IT Returns with computation of income, audited Balance Sheet and Profit & Loss account including tax audit report if applicable and proof of turnover vide latest sales / service tax returns
  • Last 6 months bank statement of salary / main operating bank account
  • Details of all existing loans
  • Additional Documents in case of Partnership Firms: Partnership Deed
Additional Documents in case of Private / Public Limited Company:Memorandum & Article of Association and List of Directors & Shareholder
 
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