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Loan against Property in Daman

Daman, the capital city of the Union Territory Dadar and Nagar Haveli and Daman and Daman has the Daman Ganga River dividing the district of Daman into two parts; one, Nani Daman which means Small Daman, and the other Moti Daman which means Big Daman. One of the three districts of the Union Territory, Daman, and the Arabian Sea surround Daman. An Indian Coast Guard Air Station in the region provides facilities for defense as well as civilian aircraft. Nani Daman Fort and Moti Daman Fort are the two places of interest for visitors.

Resources in terms of landed real estate such as housing or commercial properties, or plots of land are valuable possessions primarily when you need to borrow funds in times of financial deficits. Finance in the form of a Loan against Property in Daman can help you put all your economic grievances to rest. You don’t have to sell your real estate; a LAP enables you to acquire multipurpose funds by using these properties as security. Ruloans has allied with a number of well-known Banks and NBFCs to get you a host of LAP picks to choose from. Ruloans will aid you to get a hassle-free Loan against Property in Daman at no extra cost.

What makes Loan against Property a Perfect Choice!

Features and Benefits of a Loan against Property in Daman

Availing a Loan against Property requires a simple online application for salaried employees, business persons, and self-employed individuals, who own clear title residential or commercial properties that can be used as security. Faced with a shortage of funds, a LAP has the capacity to release you from your financial worries. Take a look at the features of a Loan against Property in Daman.

High LTV Ratio

Ruloans' partner banks and NFBCs have the best to offer you in terms of Loan to Value (LTV) ratio, such that you are comfortable with big-ticket expenses. Loan-to-Value ratio refers to the amount of LAP that can be availed based on the current value of your property.

Competitive Interest Rates

Check out the LAP options offered by our partners; you'll be amazed how easily you can leverage your property to avail of cost-effective funds. Get a LAP at affordable interest rates to ensure low EMI outgoings to reduce the cost of your loan.

Long Tenures

Competition among banks and NBFCs brings out the best in terms of offers. LAPs offer long repayment tenures that range up to 15 years. This gives you an opportunity to manage your finances over a long period of time to suit your needs.

Prepayment Option

A prepayment option allows you the opportunity to reduce the cost of your LAP. You can exercise this option to prepay your loan whenever you have access to extra funds. Prepayment charges offered by our partners equal the best in the industry.

Balance Transfer Facility

Ruloans offers loans against property with balance transfer facilities. Balance transfer refers to the transfer of the entire outstanding LAP balance from the current bank to another bank. You are allowed to exercise this option when you want to take advantage of a better offer.

Top Up Loan

There are times when you may require more funds than are available. A top-up loan refers to a facility offered by a financial institution that allows you to borrow a sum over and above your current loan amount based on your repayment capacity, for a small fee.

Tax Exemption

You may claim tax exemption on LAP under Section 37(1) of the Indian Income Tax Act if funds are utilized for business. A salaried person can claim deduction of Rs. 2 lakhs under Section 24(B) if funds are used for purchase of another residential property. Deductions are only on interest paid.

Quick Disbursal

Digitalization has made the loan process a simple and easy one; especially in the case of a LAP with easy eligibility and minimal documentation. Processed and approved quickly, you'll find your money in your account more swiftly than you thought possible.

Eligibility Criteria for a Loan against Property in Daman

The term Loan Eligibility broadly refers to your qualifications for a loan. Loan against Property eligibility criteria is based on parameters that are common to most banks and NBFCs. Specific criteria vary in accordance with individual lender requirements. Such criteria are used as a standard to resolve issues such as the number of funds to be lent, the tenure, and the interest rate. Eligibility criteria for a Loan against Property in Daman are listed below.


Your age should be minimum of 21 years, and a maximum of 68 years at Loan Maturity


You should be a Resident Citizen of India without having defaulted on any previous loans, and without any Criminal Record

Credit Score

Your credit score should be 650 or higher

Eligible Entities

If you're a salaried individual, you should be working with a Private Limited Company, or a Public Limited Company. As a self-employed person, you should be a Proprietor, Partner, or Director. Partnership or Private Limited Companies engaged in manufacturing, servicing, or trading are eligible for LAP


As a salaried person, you should have a salary of Rs.25,000. As a self-employed individual, your gross annual income should be a minimum of Rs.3 lakh. A firm or a company requires an annual turnover of a minimum of Rs. 10 lakh

Work Experience or Business Vintage

You should have a minimum of 1 year of experience with your current employer as a salaried person. If you are a self-employed person, you should be in the same business for the last 3 years. As Professional CA, CS, or Doctor, you need a minimum of 1-year of practice. A firm or a company needs business stability or a vintage of a minimum of 3 years in the same business.

Note: The above eligibility criteria are for indicative purposes only, and can vary from lender to lender.

What are the Documents Required for Getting a Loan against Property in Daman

We at Ruloans are committed to making your Loan against Property procedure smooth. Documents compulsory for a Loan against Property are minimal. We request you to furnish accurate facts and credentials so that your Loan against Property application can be processed in the shortest possible time. Documents required for Loan against Property in Daman are listed below.

Documents Required

For Salaried Person
  • Identity Proof (Like Aadhar card, pan card, etc.)
  • Address proof such as electricity bill, passport, aadhaar card, etc.
  • Signature proof (Pan card, Passport, etc.)
  • Income Documents like 3 months' Payslips along with one-year Bank statement of salary account.
  • Form 16
For Self-Employed Person (PROPRIETOR)
  • Age Proof of applicant & co-applicant required (Pan Card Copy and aadhaar card)
  • Residence Address Proof required of applicant & co-applicant (For E.g.- Passport Copy, Driving License copy, Latest Telephone / Electricity Bill copy)
  • Office Address Proof required with company stamp (Latest Telephone / Electricity Bill, Shop Establishment Certificate, etc.).
  • Latest 3 years ITR with profit and loss and balance sheet.
  • Latest one-year bank statement
  • GST certificate & udyam aadhaar certificate.
  • Latest one-year GST challan GST-3b.
For Self-Employed Individuals (PVT LTD COMPANIES)
  • Age Proof of applicant & Co-applicant (For E.g.: -Passport, Driving License, PAN Card, Birth Certificate).
  • Residence Proof of each applicant & Co-applicant - (For e.g. -Passport, Telephone bill /Electricity Bill)
  • Business proof (GST Certificate & Udyam Aadhar)
  • Company Pan Card copy with company stamp & signature.
  • Required three years ITR Returns of Applicant & Co- applicant
  • Latest three years Company ITR Returns required with Computation of Income, Profit & Loss A/c, Balance Sheet, Capital A/c, Audit Report with 3cb & 3cd (if audited) and all schedules.
  • Memorandum of Association(MOA) and Article of Association(AOA)
  • List of Directors with Share Holding Pattern required on company letterhead with stamp & sign.
  • Board Resolution on company letterhead with stamp & sign.
  • Form 32 / Annual Return file with ROC.
  • Latest Year Bank statements of all Current A/c's.
  • Updated one-year bank statements of all saving A/c's
  • Company Profile on company Letterhead
  • Provide Latest One Year GST 3B Challan required.
For PVT LTD Directors (Withdrawing salaries)
  • Latest 4 months' salary slip or salary certificate from the company.
  • Latest Three Years Form-16 or three years 26AS of applicant & Co-applicant required.
  • Latest Year bank statements in which Salary is been credited
For Self-Employed Individuals (PARTNERSHIP FIRM)
  • Age proof of applicant & Co-applicants. (E.g. Pan Card, Passport, Driving License, Birth Certificate Etc.)
  • Residence Proof of applicant & Co-applicant's (E.g. Passport, Tel/ Electricity bill, Lease Agreement along with latest electricity bill in the name of owner).
  • Business proof (GST Certificate & Udyam Aadhar)
  • Latest 3 Years Complete ITR of applicant and co-applicant
  • Latest 3 years complete ITR of the company with profit & loss and balance sheet
  • Audit reports for all three years if audited
  • Partnership Deed
  • Pan Card copy of partnership company required with stamp & signature
  • Company A/c Bank Statements (Latest 12 Months)
  • Saving Bank Statements (Latest updated 12 Months required)
  • Company Profile of the Company
Documents required for Balance Transfer
  • All the documents above mentioned are required
  • Sanction letter of ongoing loan
  • Loan statement account for last two years
  • Outstanding letter

Note: The above documentation requirements are for indicative purposes only, and can vary from lender to lender.

Get Loan against Property in no time with these easy steps!

How to Apply for a Loan against Property in Daman?


Online Application

Fill out your 'Basic Details'


Document Submission

After you receive your 'Loan against Property Eligibility', choose your 'Financial Institution', and upload 'Required Documents'



The Institutions will 'Verify' your Loan against Property application, and submitted documents



Your Loan against Property will be 'Sanctioned'



Receive your 'Loan against Property Amount' in your Bank Account - Simply Efficient!

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