Interest rates on term deposits are effective from 10-05-2026.

Loan Against Property

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Loan

Loan Against Property

A loan against property (LAP) is a secured loan provided by banks, housing finance companies, and non-bank financial institutions (NBFIs) against residential or commercial property. These loans are typically offered at a lower interest rate than a personal loan or business loan and are disbursed in a timely manner.

Papers required for a Loan Against Property

A. Requirements before sanction of loan

  1. 15 Passport size photographs.
  2. 2Photo ID Proof (Aadhar / Voter ID / Passport / PAN Card / Driving License).
  3. 3Proof of Residence (Aadhar card / land line telephone bill / electricity bill / ceiling of gas connection / ration card / passport etc).
  4. 4Income proof
  5. ·Form-16 with latest salary slip for servicemen.
  6. ·3 years ITR with computation sheet for others.
  7. ·3 years ITR with computation sheet + 3 years balance sheets with business proof for businessmen.
  8. 5Statement of bank account / photocopy of bank pass book having entries of last six months.
  9. 6Sale Deed.
  10. 7Photocopy of Registry with previous chain.
  11. 8Saving Bank Account with our Bank.
  12. 9Two Guarantors Required.

Documents required from each guarantor

  • 3 Passport size photographs.
  • Photocopy of identity & address proof (as at 2 and 3 above).
  • Photocopy of income / net worth proof (salary slip + Form 16 / ITR).
  • Account statement / photocopy of pass book.

Note: all documents must be self-attested.

B. After sanction of loan, at the time of disbursement

  1. 1Revenue stamp — 6.
  2. 23 stamp papers for Rs. 100/- each in the name of borrowers.
  3. 30.5% of loan amount (Min. Rs. 100/- Max. Rs. 10,000/-) stamp for equitable mortgage of property.
  4. 4Affidavit on Bank performa with photo.
  5. 5Original title deed with previous chain.
  6. 6Share money: 2.5% of loan amount.
  7. 7Charges as per Bank rule:
  8. ·Processing fees: 0.5% of loan amount + 18% GST (max. Rs. 20,000/- + 18% GST).
  9. ·NEC Fees.
  10. ·Application fees: Rs. 20/- + 18% GST.
  11. ·Membership fees: Rs. 10/- + 18% GST (each borrower).
  12. ·Nominal membership fees of both guarantors.
  13. ·CIBIL charges.
  14. ·Valuation charges: 0.125% to 0.5% (i.e. Rs. 250/- to Rs. 5,000/-) depending on loan amount.
  15. 8Valuation of property from Bank's approved valuer.

How to avail this service

Steps

  1. 1Check the published rate for the loan you want, and work out the instalment on the EMI calculator.
  2. 2Visit the branch to discuss the scheme, the amount and the security you can offer.
  3. 3Submit the application with your identity, address and income documents, and the documents for any security offered.
  4. 4Provide guarantor details where the scheme requires them, with the guarantor’s own identity, address and income proof.
  5. 5On sanction, complete the stamping, agreement and charges applicable to the scheme before disbursement.

The full document checklist the bank publishes for this loan is set out below, in two parts — what is needed before sanction, and what is needed at disbursement.

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Banda Urban Co-operative Bank Ltd., Head Office. We reply to enquiries about accounts, deposits, loans and services.

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