Imanojchoudhari
TF Neo
I have a question, if I have a house worth 23 lakhs, can I take a loan on this house without salary slip and ITR, if yes, how much and what will be the interest rate?
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How To Get Loan Against Property Without Income Proof.?
- Thread starter Imanojchoudhari
- Start date
Solution
Your CIBIL score decides your interest rate.If you are having good score eg above 750 then will offer you the loan at best interest rate available and even you can bargain with bank but if You dont have any Finanacial history then interest rate will be at the mercy of bank.
See if your taking loan then you must have income to repay whether through Business or by salary.You must show them your source of income for quick approval.
Now on your property you will get loan upto 18 to 20 lakh easily.
Last edited:
Adding to this, the loan amount depends on your repayment capacity as well.
Most of time the maximum emi amount can be only upto 50-60% your monthly income(including your other active loans).
Hence even if the property is expensive, the loan amount will be a fraction of it.
But if you have some good relationship with the bank, there will be exceptions.
Most of time the maximum emi amount can be only upto 50-60% your monthly income(including your other active loans).
Hence even if the property is expensive, the loan amount will be a fraction of it.
But if you have some good relationship with the bank, there will be exceptions.
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