Loan Against Property Banking program is very common program used by all the banks and NBFC in India. This program works on the basis of average bank balance of last consecutive 12 months. Calculation method of the average bank balance is the closing balance amount on every 5th 10th 15th 20th & 25th day on every month in the bank statement. Monthly three credit transactions required in the last 6 months.

One year bank statement required. Whatever is the average bank balance comes the same amount is called average banking. Banks have their multipliers as per bank to bank policy. They use normally 0.75 to 1.5. These multipliers are multiplied by the average bank balance amount. The amount came is taken as affordable property loan EMI and as customers eligibility of the mortgage loan. Apart from banks many of NBFC are also providing the loan against property from the same program. Karvy Financial Services Ltd. is the one of the most trust worthy NBFC. Karvy is doing very well in banking surrogate they are funding amount up to one crore. Apart from this Karvy finance is catering a lower kind of profile where customer belongs to simple small & medium enterprises segments. We have identified a program where customers don’t need to worry about balance sheet or don’t have very healthy banking history in past days, they can avail loan if they have a clear title property approved by proper authorities. Some other non banking financial companies like DHFL & BAJAJ finance are also very aggressively working in these segments.

Key Points to be followed by customers:

• Customers need to be very clear about their regular & healthy banking.
• Always keep in mind that strong banking reflects customer’s strength
• Need to be very care full at the time of submitting any cheque to any third party, the same should
never fail to clearance.
• Cheque bouncing in bank statement is shows negative feedback for customers
• Banking has very critical documentation which plays very important role in loan funding
• ITR’s must be filled on the right time as per the Income tax departments circular or order
• ITR is must be fill correctly, customers should disclosed all the transaction information correctly
• Balance sheet, P&L and computation of income must be verified by chartered accountant
• Customer should avoid cheque bouncing in account and penal charges as well

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