Property Loan

At RIFS, we understand that funding needs arise for both personal and business reasons. Whether you’re looking to start a new venture or expand your existing business, a property loan can be the solution you need. By leveraging the value of your residential or commercial property, you can access funds to meet your financial goals. Our Property Loan service offers you the flexibility to utilize the funds for various purposes, be it personal or business-related. With attractive interest rates and customized repayment options, RIFS ensures you get the financial support you need at the most competitive terms. Mortgage your property today and unlock the potential to grow with our affordable and easy-to-manage loan against property.

Eligibility Criteria

Salaried Individuals
To be eligible for a Property Loan from RIFS, salaried applicants need to meet the following criteria:

• Minimum Age: 22 years
• Maximum Age at Loan Maturity: 58 years (60 years for Government Employees)
• Minimum Net Salary: ₹20,000 per month (for Government Employees)
• Minimum Net Salary: ₹25,000 per month (for Private Sector Employees)

Self-Employed Individuals
If you are self-employed, a sole proprietor, partnership firm, LLP, private limited company, OPC, or closely held limited company, the eligibility criteria are as follows:

• Minimum Age: 22 years
• Maximum Age at Loan Maturity: 65 years
• Years in Business: At least 4 years, with a minimum of 2 years in the same business
• Minimum Annual Income: ₹2,00,000 per annum (for Tier 1 & 2 cities)
• Minimum Annual Income: ₹1,50,000 per annum (for Tier 3 & 4 cities)

Documents required

Salaried Individuals:

• Proof of Identity & Address – Any one of  / (Postpaid Telephone Bill, Electricity Bill– not more than two months old / Voters Card/ Drivers Licence / Employers Card.
• Latest Bank Statement / Passbook (where salary/income is credited for the past 6 months).
• Latest 3 Months Salary Slip with all deductions & Form 16 for the last 2 years
• Copies of all Property Documents.
• In case of any existing loan, need to submit sanction letter, payment track record etc.

Self Employed/Business/Self Employed professionals:

• Certified Financial Statement for the last 2 years
• Proof of Identity & Address – Any one of / Postpaid Telephone Bill, Electricity Bill – not more than two months old / Voters Card/ Drivers Licence / Employers Card.
• Latest Bank Statement / Passbook (where salary/income is credited for the past one year – (both savings and current).
• Copies of all Property Documents.
• In case of any existing loan, need to submit sanction letter, payment track record etc.
• Sales deed/ agreement (executed)
• Company registration license
• Last 3 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
• Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable
• Professional Degree Certificate: (in case of professionals)
• Investment proof (if any): fixed deposit, fixed assets, shares, etc.