As you Asking for the Information About the Loan Against Property of the Kotak Mahindra Bank is given below

Loan Against Property of the Kotak Mahindra Bank

Your existing property can help you avail of a loan at interest rates lower than other consumer loans1. Avail a Loan Against Property (LAP) today and unlock the potential in your property.

Features
Loan against property in Kotak Mahindra Bank can be availed against commercial, residential or industrial property.

Loan Tenure: LAP’S are issued for a maximum period of 12 years. However, the tenure varies depending upon the purpose of the loan and the applicant’s business profile.

The applicant can avail loans amounting from Rs. 10 lakh to Rs. 3 crore.

In case of commercial property loans, or loans against existing properties, an applicant can avail up to 55% of the cost of the property as loan.

The bank decides the amount that an individual can borrow, based on the repayment capacity of the borrower.


Eligibility Criteria
Minimum annual income should be Rs. 1.44 lakh as per the P&L.
Minimum age must be 21 years.
Maximum age at the time of maturity should be 65 years.
The company / firm should have been operational for the last 6 years.
The company / firm should have been making cash profits for the past 2 years.

Required Document

Identity Proof
Address Proof
Date of Birth Proof
Latest ITR along with computation of income, Balance sheet and Profit & Loss A/c for the last two years as certified by a CA professional
Bank statement: These documents seek to verify the applicant’s income status prior to making the application for loan which also depicts the individual’s financial picture depicting the credit worthiness of the person.

For Any Query you may Contact to the Kotak Mahindra Bank the contact Details Are given below

Customer Care :
Kotak Mahindra Bank
1860 266 2666