Tips to Acquire Loan Against Property Without Income Proof

A financial emergency usually comes without any warning. And it often has a devastating effect on people’s physical and emotional well-being. 

With a loan against land property by your side, you do not need to worry anymore if a financial emergency ever blocks your way. As a loan against land property is a collateral-based loan, the eligibility criteria are relatively easier than other loans. However, despite being a collateral-based loan, lenders often require the borrower’s income proof to evaluate their repayment capability. 

So, can you apply for a loan against property if you do not possess an income proof? The answer is a resounding ‘YES’.

Read on to discover the best ways to get a loan against land property without income proof. 

Apply For a Joint Loan Against Land Property

If you are worried about loan against property eligibility, consider applying with someone else. The co-applicant must have a stable source of income, though. There are two benefits of applying for a loan against land property with a co-applicant. First, it enables you to avail a higher loan amount. Second, it assures the lender that the chances of default are minimal.

Maintain a Healthy Savings Account 

A healthy savings account balance is one that can take care of your six-months’ expenses. When you apply for a loan against land property without income proof, the lender might analyse your savings account to find out your saving habits. If the lender feels satisfied that you have sufficient savings to repay the EMIs on time, they may approve the loan. 

Apply For a Lower Loan Amount or LTV

Generally, most Indian lenders approve a loan against land property for up to 60% of the property’s market value. However, if you want to increase the chances of loan approval, it is better to apply for a lower Loan-to-Value or LTV. You can also make more as downpayment than what the lender stipulates. A higher down payment speaks volume about your loan against property eligibility and makes loan approval smoother.

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Have a High CIBIL Score

CIBIL score does not apply to you if you are a first-time borrower. However, if you availed a loan or used a credit card before, you have a credit profile. For borrowers with a high credit score, availing a loan against land property becomes easier. A high CIBIL score indicates that you take debt repayments seriously. Such an assurance can enable the lender to approve the loan. 

What Other Documents Do You Need to Fulfil Loan Against Property Eligibility?

Now that you know the best ways to avail a loan against land property without income proof, here is a list of the documents you need to submit along with the loan application form.    

  • Latest passport-size photograph
  • Age proof, such as PAN Card, Aadhar Card, birth certificate, etc.
  • Address proof, such as Aadhar Card, Passport, etc.
  • Identity proof, such as PAN Card
  • Certificate of educational degree
  • Six months’ bank account statement
  • Processing fee cheque
  • Property papers, including Title Deed, Tax Receipts, etc.


A loan against land property can provide you with quick money that you can use to pay hospital bills, construct a house, renovate your home or office, consolidate business debt, travel abroad, sponsor a wedding, and so on. Before applying for a loan against property, always enquire about the eligibility criteria and choose a lender who offers you the lowest interest rates.

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