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Unlock the Value of Your Property with a Loan: No ITR Required

By IIFL Home Loans | Published On May 19 2023 6:42 AM 1 min read 4737 views 3614 Likes
Loan Against Property Without Income Proof


Hey, we've all been there—money problems can take a toll on you. It seems like there's always something that needs paying, and it can be hard to know where to start. It's tough out there, and sometimes you might be tempted to turn to shady lenders who promise to help you but charge you WAY too much interest.

But don't sweat it—we've got your back! Today, we're exploring a secured loan called a loan against property, which could be a great option for small business owners who need more money than other financing options. So let's dive in and explore.

Loan Against Property Without Income Proof

If you're a property owner and need a lot of money, a loan against property (LAP) could be a great option. LAP is simply borrowing money from a lender using your property as collateral. You must ensure the property you pledge is registered in your name.

You might even be able to apply for this loan without a CIBIL score or with a bad CIBIL score, depending on the lender and their requirements.

To get approved for a loan against property, you must meet the eligibility criteria and apply with the required documents. You can do this easily online or offline through a lender's executive.

The amount you can borrow depends on the market value of the property you pledge. A loan against property can also use borrowed money for various financial obligations like medical emergencies, wedding expenses, vacations, study abroad, business expansion, and more.

So if you need funds and own a property, a loan against property, which doesn't need income proof, could be the answer!

Tips to Avail of This Loan Without ITR


Most banks and financial institutions must see your income proof before approving your application. That means they'll ask for your income tax returns and other documents. But don't worry; even if you don't have these documents, you can still get this loan without ITR and income proof.

Are you looking for a loan against property but don't have the necessary income proof? Worry not; here are some tips to help you out!

  1. Firstly, elaborate on your income source to the lender's representative. Explain why you don't have the necessary income documents to support your application.

  2. Secondly, try to maintain a high average monthly balance and regular savings to show that you are financially stable.

  3. Thirdly, opt for a lower loan-to-value (LTV) ratio. This means you take a lower loan amount relative to the value of your property. Making a higher down payment and availing of a lower LTV improves your chances of getting the loan approved without income proof.

  4. Lastly, ensure you have enough savings in the bank to cover at least two EMIs. This will help streamline the loan processing and make the experience hassle-free.

  5. Don't forget to compare lenders and check the property loan rates on offer beforehand. With all the necessary information, you can confidently apply for a loan online and improve your chances of getting approved.

Necessary Documents to Get a Business Loan Without Income Proof and ITR

Don't sweat it if you don't have all the documents lenders usually require. You can still get a Mortgage Loan Without Income Proof and ITR. To make sure you're prepared, here are the documents you'll need:

  1. 1. Your ID proof (Aadhaar Card, Voter ID Card, Passport)

  2. 2. Residence proof (Passport, Driving Licence, Family ID, Ration Card)

  3. 3. Bank details and account statement

  4. 4. Form 16, filled

  5. 5. Property documents, along with the registration certificate and property deed.

Just make sure you have all these ready, and you'll be good to go!


You're now equipped with the knowledge to confidently take the first step towards achieving your financial goals. But why settle for just any lender when you can turn to IIFL Home Loans for a smart and intuitive solution?

Say goodbye to unorganized lenders who offer small-value loans at exorbitant interest rates, and hello to our Samman Loan Against Property! Whether you're a small business owner looking for a business loan without ITR or an individual looking for financial support, Samman LAP can help you fulfil your dreams without hassle.

So what are you waiting for? Don't let your financial needs hold you back any longer—apply now and take the first step towards reaching your true potential with IIFL Home Loans.


  1. 1. Is Mortgage Loan Without Income Proof taxable?

A loan against property is not tax-deductible, regardless of whether the loan was made for business or personal reasons. Since you are investing in property for money when you take a home loan, the home loan can be tax-free.

  1. 2. Can loans against property be used for any purpose?

Yes, a loan against property (LAP) can be used for personal and business purposes as long as the borrower owns a residential or commercial property and meets the lender's eligibility criteria.

  1. 3. Is it OK to take out a loan against property?

Yes, taking a loan against property (LAP) can be a better option than a personal loan due to its lower interest rates, higher loan amount, longer repayment tenure, and greater flexibility in terms of usage. However, borrowers should carefully consider their financial situation and repayment ability before availing any loan.

  1. 4. Can I avail Loan Against Property (LAP) for a commercial property?

Yes, a loan against property (LAP) can be availed against a fully constructed and freehold commercial property as long as the borrower meets the lender's eligibility criteria and the property is free from legal disputes.

  1. 5. Can I get a Loan Against Property with Bad CIBIL?

A high CIBIL score is crucial when applying for a loan against property, as it improves the chances of loan approval from the lender. Nonetheless, if the CIBIL score is low, it might affect the loan application. It usually depends on the lender and their policy.


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