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Is It Possible To Get a Loan Against Property Without ITR?

Published on Jan 31, 2023Updated on May 21, 2024

Is It Possible To Get a Loan Against Property Without ITR?

A Loan Against Property (LAP) is a popular financial product in India that allows individuals to borrow money against their property as collateral. It is a secured loan where the property is held as collateral by the lender until the full amount of the loan is repaid. Loan Against Property is an ideal option for people who need to raise a large amount of money quickly and have a property that they can pledge as collateral. The loan amount can be used for various purposes such as funding a business, home renovations, children's education, or any other personal or business needs.

Importance of ITR when applying for a Loan Against Property

One of the most important documents required when applying for a LAP is the Income Tax Return (ITR). ITRs are considered a crucial document as they provide financial institutions with a detailed overview of the borrower's income and financial status. The ITRs help the lender to assess the creditworthiness of the borrower and the risk of approving the loan. It also helps to determine the loan amount that can be sanctioned and the repayment capacity of the borrower. The ITRs also provide information about the applicant's current financial obligations, which helps the lender to determine the applicant's creditworthiness.

Must Read: Complete Guide of Loan Against Property Glossary & Terminology

Required Loan Against Property Documents Along with ITR

To avail a loan against property without income proof or income tax returns, following property loan documents are required from the borrower:

  1. Application form with a recent photograph
  2. Proof of identity (Passport copy, Voter ID card, Driving License, PAN card)
  3. Address proof (Ration card, Telephone bill, Electricity bill, Rent agreement, Passport copy, Passbook, Driving licence)
  4. Account statements for the past six months
  5. Processing fee cheque
  6. Document pertaining to property offered as collateral

The process of applying for a LAP begins with the submission of the loan application, along with the required documents. The lender will then process the application and evaluate the borrower's creditworthiness. If the borrower meets the lender's eligibility criteria, the lender will sanction the loan and disburse the funds.


We at SMFG India Credit understand that every individual has unique financial needs and that's why we offer loans against property tailored to suit your specific requirements. Whether you need funds for your business expansion, education of your children, or to fund your dream vacation, meet all your needs with ease. With a loan against property, you can leverage the value of your property to achieve your life goals.

We offer loan amounts up to 70%* of the property's market value, with a maximum of 5 crores*, ensuring that you get the funds you need to fulfill your financial objectives. Our loan against property products come with easy interest rates and flexible repayment tenures, allowing you to plan your finances according to your needs.

We have a team of experienced professionals who are available to assist you throughout the loan process, ensuring a seamless and hassle-free experience. Our online application process is quick and convenient, and we ensure that the loan disbursal is done as soon as possible.

* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us

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