Eligibility Criteria for Loan Against Property
During financial emergencies, a Loan Against Property emerges as one of the top funding options. Mortgaging your property, residential or commercial, to overcome monetary deficiencies is highly beneficial. At YES BANK, we provide Loan Against Property to salaried individuals and self-employed professionals.
Before applying for a loan against property, go through the eligibility criteria mentioned below:
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Minimum Income — Salaried individuals must have a minimum income of INR 3 lakhs per annum.
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Minimum Age — Applicant should have completed 23 years of age if the income of the applicant/co-applicant is considered, and 21 years in case the income of the applicant/co-applicant is not considered.
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Maximum Age — 60 years if the income of the applicant/co-applicant is considered, and 70 years if the income of the applicant/co-applicant is not considered.
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Experience — 6 months of experience in current employment, with a total of 3 years in employment.
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Minimum Income — Self-employed professionals must have a minimum cash profit of INR 4 lakhs per annum.
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Minimum Turnover — INR 15 lakhs per annum for service provider/commission income; INR 10 lakhs per annum for doctors; INR 60 lakhs per annum for non-service providers.
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Minimum Age — Applicant should have completed 23 years of age if the income of the applicant/co-applicant is considered, and 21 years in case the income of the applicant/co-applicant is not considered.
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Maximum Age — 65 years if the income of the applicant/co-applicant is considered, and 70 years if the income of the applicant/co-applicant is not considered.
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Experience — Minimum of 3 years of experience in business/profession.
To apply for a mortgage loan with YES BANK, the applicant shall fulfil the relevant criteria according to his/her profession. You may visit our website or walk into your nearest YES BANK branch for more details and further assistance with the loan process.
