Loan Against Property (LAP)-Avail Property Loans by DBS Bank

Loan Against Property

At a Glance

A Loan Against Property can be taken for various purposes such as personal or business needs. You can avail of this loan by keeping your existing residential property as a collateral with DBS Bank.

Since a loan against property is a secured loan, you will pay a lower interest rate than other unsecured loans.

Features

Interest rates starting from 9.25%* p.a.: Avail competitive interest rates on your Loan Against Property with DBS Treasures.

Lower Processing Fees: As a valued DBS Treasures customer, you can avail the loan at an attractive fee of only up to 1%.

Accessible funding: You can avail a loan up to 65% of the market value of a residential property.

Increased payment flexibility: Competitive interest rates, coupled with lower EMIs, give you the repayment flexibility you want.

Hassle-free processing: When you take a loan against property from DBS Treasures, our mortgage specialist takes charge to ensure smooth and easy processing.

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Benefits

Funds are available for multiple purposes: Do you have a big-ticket personal expense lined up or a planned business expansion that needs a cash infusion? A loan against property can help meet those needs and many more.

You decide the tenure: You have a lot more control in deciding how short or long your loan tenure can be. With a maximum limit of 15 years, you have complete flexibility over a loan repayment.

You continue to own the property: The loan against property ensures that you retain ownership rights throughout the tenure and after successful closure of your loan. It allows you to benefit from your asset's potential.

Documents Required

To apply for a loan against property, you need to submit the following documents for all applicants / co-applicants along with the completed and signed Mortgage Application Form.

Identity Proof and Residence Proof (KYC)

PAN Card (Mandatory document for KYC)
Passport
Voters ID
Driving License
Aadhaar Card (Aadhaar number to be masked)

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Income Proof Documents

For salaried professionals, the documents needed are:

Last 3 months' Salary Slips
Last 6 months' Bank Statements, showing salary credits
Last 2 years Form-16 and IT returns

For self-employed professionals, the requirements differ slightly:

Income Tax Returns / Assessment orders for the last two years with computation of income (including e-acknowledgement) certified by a CA
Audited Balance Sheet & Profit & Loss account along with Auditor's report and all annexures
Secondary income proofs if any (rental, dividend, interest, etc.)
Last 6 months' Bank Statements (all bank accounts)

Property Documents

Title Deeds with all the previous chains of property documents / agreements
Occupancy Certificate or CC and approved plan
Proof of no encumbrances on the property

Other important documents

Property purchase payment receipt proof
Appointment Letter or Employment Contract in cases where the current employment is less than a year old.
Proof of professional qualifications - certificates to be furnished by self-employed professionals.
A repayment track record for all ongoing loans - last 6 months.
Declaration and documents stating the end use of the loan.
Passport size photograph for all applicants along with application form with a signature across the form and photograph.
A cheque for processing fee favouring DBS Bank India Limited - Name of the Applicant.

The list of documents mentioned above are indicative and acceptance of these documents is based on DBS Bank's credit policy as applicable at the time of loan application. For more details, you can speak to your Relationship Manager (RM) or visit the nearest branch.