Plot Purchase

Plot Purchase

  • What is Plot Purchase ?
  • Our Plot Purchase Loan facility enables you to purchase properties such as office spaces, shops, clinics and other business establishments

    The Plot Purchase loan is also dependent on the customer’s profile, age of customer at maturity of loan, age of property at loan maturity.

    One of the financial instruments that banks provide are land loan or plot loan. It is a loan provided by banks to borrowers for the purchase of a plot of land.

  • Documents
  • 1. Documents for Salaried Individuals

    • KYC Documents of applicant and co-applicants
    • Salary slip for the last 3 months / Salary Certificate (If variable components like Over Time and Incentives are reflected then salary slips for the past 6 months are required)
    • Latest Form – 16 if salary above Rs. 20000/- per month
    • PAN Card
    • Copy of all bank pass books / bank statements for the past 3 months including front page
    • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
    • Property Documents
    • Company profile if it is a lesser known organization
    • Note: Original documents are required for verification purpose only

    2. Documents for Proprietorship

    • KYC Documents of proprietor and co-applicants
    • Shop and establishment certificate/VAT/Sales Tax Registration Certificate
    • PAN Card
    • Last 2 years financials with audit report
    • Last 6 months Bank statement of all bank accounts
    • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
    • Property Documents
    • Note: Original documents are required for verification purpose only

    3. Documents for Partnership Firms

    • Registered partnership deed
    • KYC of partners
    • PAN Card of firm and partners
    • Shop and establishment / VAT/ Sales Tax Registration Certificate
    • Last 2 years financials with audit report
    • Last 6 months Bank statement of all bank accounts
    • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
    • Property Documents
    • Note: Original documents are required for verification purpose only

    4. Documents for Companies

    • Memorandum of Association(MOA) / Articles of Association(AOA)
    • Latest shareholding pattern
    • KYC of Directors
    • PAN Card of the entity and Directors
    • Last 2 years financials with audit report
    • Last 6 months Bank statement of all bank accounts
    • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
    • Property Documents
    • Note: Original documents are required for verification purpose only

    5. Documents for Listed Companies

    • Memorandum of Association(MOA) / Articles of Association(AOA)
    • Latest shareholding pattern
    • KYC of Directors
    • PAN Card of the Company and Directors
    • Last 2 years financials with audit report
    • Last 6 months Bank statement of all bank accounts
    • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
    • Property Documents
    • Declaration that borrower, Company or any of its Directors have not been debarred / blacklisted / penalized by any Stock Exchanges / SEBI/ RBI. Declaration that the proposed borrowing is within the limits prescribed u/s 293(1)(d) of the Companies Act, 1956.
    • Note: Original documents are required for verification purpose only

  • List of Document Required to be Submitted for an Plot Purchase Loan:
    • A duly-filled loan application form
    • Three passport size photographs of the applicant
    • A government issued photo identity proof (Voter ID, passport, driving license, etc.)
    • Proof of residence (telephone bills or electricity bills would suffice)
    • For non-salaried applicants, proof of business is required
    • Bank statement for the past six months
    • Statement of personal liabilities
    • Personal assets statement
    • Signature identification from the present banking institution
    • Documents required for the guarantor
    • Statement for personal assets and liabilities
    • Two passport size photographs
    • Identity proof (Voter ID, passport, driving license, etc.)
    • Proof of the current and permanent residence
    • Address of the firm, in case the guarantor is self employed
    • Signature identification from the present banking institution