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Old December 16th, 2016, 06:26 PM
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Join Date: May 2011
Default Re: Punjab sind bank loan against property

As you want to apply for Punjab sind bank loan against property, so here I am telling require info:

Eligibility


i)Individuals who are income tax assesses;

ii)Age limit: Minimum 21 years and Maximum 65 years.

LOAN AGAINST PROPERTY (LAP).

One Year MCLR+ 2.25% at present

Documentation charges


Actual expenses with respect to charges for property legal opinion, index, valuation, mortgage fee and stamp papers etc.

Quantum of Loan


Minimum Rs.1.00 lac and maximum Rs.500.00 lac.

Maximum outer limit for finance would be subject to:

(i) For salaried personsMaximum 48 times the net monthly income (Net of all deductions including TDS)

(ii) For others: Maximum 4 times the net annual income (income as per latest IT return less taxes payable)


The income of the spouse / major son may be added if he/she is a co-borrower.

Margin


Finance up-to 50% of the realizable value of the property, subject to loan amount & outer limit. (i.e. borrowers offering security @200% of the loan amount).
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