The decision this page helps you make: should you apply for your loan now, or fix something first? CA Jitendraa Rathi used to work for banks checking loans. We use that to help you get your papers right. The bank alone decides whether to lend.
| Check | The bank’s question | What we do before you apply |
|---|---|---|
| 1. Numbers check | Do the numbers agree, and can this borrower repay? | Match tax returns, accounts, GST, bank papers, and credit reports; explain any difference |
| 2. Property papers | Is the property clean, approved and valued fairly? | Pre-check ownership chain, EC, patta, approvals, unapproved changes and lease registration |
| 3. Loan type | Is this the right loan type and years to repay? | Choose loan against property, buy-a-property loan, rent-backed loan (LRD) or cash credit / overdraft |
| 4. Bank fit | Does this file sit inside our policy and pricing grid? | Shortlist one to three lenders on published policy and pricing |
| 5. After the bank says yes | Will the conditions be met on time? | Read the approval letter and Key Facts Statement (full cost sheet) with you; track conditions until money is paid out |
Check 1: what does the Numbers check look at?
A bank officer reads your file for one thing first: do the documents tell the same story? Turnover in GST returns should broadly match the books; profit in the ITR should match the audited financials; bank statements should show the business actually running through the account. The bureau report is read for repayment history, overdue amounts and recent enquiries, because if you asked many lenders for a loan lately, a bank may wonder why.
- Three years’ ITR and financials, GST returns and 12 months’ bank statements laid side by side
- Cheque returns, overdues and enquiries listed with the honest explanation
- Repayment capacity worked out the way lenders do (share of income used for loan payments for individuals, cash left after debts for businesses)
See the eligibility and documents checklist for the full list.
Check 2: what is Property papers check?
For Loan Against Property and a rent-backed loan (lease rental discounting), the property is the security, and the lender’s lawyer and valuer will test it. In Tamil Nadu that usually means the title chain with parent documents, a current encumbrance certificate from TNREGINET, patta, and the CMDA or DTCP building approval with any deviations. For a rented property, a lease of more than one year must be registered (Registration Act, 1908 — see the law text). An unregistered lease is a common reason a rent-backed loan stalls.
More detail: Tamil Nadu property documents for loans.
Check 3: how is the loan type decided?
The wrong product is a quiet reason for a weak bank yes. Long-term needs belong on term debt or LAP; the operating cycle belongs on cash credit or overdraft; strong rent from a good tenant can support an LRD loan in Chennai (lease rental discounting); property collateral can support a secured CC/OD facility sized to the operating cycle.
Check 4: how is Bank fit chosen?
Lenders publish very different rules and prices for the same loan. Different banks charge different interest. Check each bank’s own page, or our rate tracker. Two public examples (checked 14 October 2026; figures can change):
- Bank of Baroda prices its individual mortgage loan from its central-bank-linked base rate + strategic premium + 0.75% up to + 3.35%, depending on the applicant’s risk rating.
- SBI prices its loan against property by loan size: 1.60% above the bank’s one-year standard lending rate (MCLR) up to ₹1 crore, 2.10% for ₹1–2 crore and 2.50% for ₹2–5 crore.
So the same file can be priced differently, or fall outside one lender’s policy and sit comfortably inside another’s. We shortlist one to three lenders rather than applying everywhere. See the current figures in our Chennai property and rent loan rate tracker.
Check 5: what is Getting money after bank approval?
A bank yes letter is not money in the account. It carries conditions, and the price is only final once you see the Key Facts Statement (full cost sheet). RBI’s Key Facts Statement directions (15 April 2024) require lenders to give borrowers a KFS showing the annual percentage rate and all charges before the loan agreement is signed. We read both with you, list each condition with who does it and by when, and follow documents through to disbursement.
Does this guarantee the bank will say yes?
No. The bank or finance company alone decides. We cannot promise a yes. We try to remove the easy reasons for a “no” or a delay. If your pack is not ready, we say what to fix, and we do not send it until it is.
What does the first look cost?
The first look at your case is free on WhatsApp or a call to +91 94450 93336. After that you may pay a fee. We tell you the amount in writing before we start. We work on loans of ₹5 crore and above.
Sources
- RBI, Key Facts Statement for Loans & Advances, RBI/2024-25/18, 15 Apr 2024 (checked 14 Oct 2026)
- Registration Act, 1908, s.17(1)(d), India Code (checked 14 Oct 2026)
- Bank of Baroda retail loans interest rates page; SBI loan against mortgage of immovable property page (both checked 14 Oct 2026)
Reviewed 14 October 2026 by CA Jitendraa Rathi. Next review: 14 November 2026.
Written and reviewed by CA Jitendraa Rathi, Chartered Accountant (CA membership number 217936) · Ex-banker, 20 years of experience in credit and lending · LinkedInLast reviewed · Expert review: CA Jitendraa Rathi (ICAI 217936)
Frequently asked questions
What is the five file checks?
Five checks CA Jitendraa Rathi runs on every ₹5 crore+ loan pack before any bank sees it: (1) Numbers, (2) Property papers, (3) Loan type, (4) Bank fit, (5) After the bank says yes. The aim is to find what a bank would question, and fix it first.
Check 1: what does the Numbers check look at?
Whether your tax returns, audited accounts, GST returns, bank statements and credit report tell one story. Gaps — GST sales that do not match the books, bounced cheques, or many recent loan enquiries — are listed with a plain explanation for the bank.
Check 2: what is Property papers check?
A check of the property before the bank’s lawyer and valuer see it: ownership chain, encumbrance certificate (list of past sales and loans), patta, building approval and unapproved changes, and for rented property a registered lease. Finding problems here costs days; finding them at the bank can stop the loan.
Check 3: how is the loan type decided?
We match the loan type to the need: a loan against property or a loan to buy a business property for long-term needs; a rent-backed loan (LRD) when you have a strong tenant; cash credit or overdraft for day-to-day stock and bills. Years to repay are set so payments fit your cash flow.
Check 4: how is Bank fit chosen?
We shortlist one to three lenders whose published rules and prices fit your property, income, business type and loan size. Different banks price the same loan very differently.
Check 5: what is Getting money after bank approval?
After the bank says yes, we read the approval letter and the Key Facts Statement (a sheet showing the full cost of the loan) with you before you sign. We list each condition, who does it, and by when, and we track papers until the money is paid out. RBI requires that cost sheet before you sign.
Does this guarantee the bank will say yes?
No. Only the bank or finance company decides. We cannot promise a yes. We fix papers, loan type and lender choice before you apply so you avoid an easy “no”. If your pack is not ready, we say what to fix and roughly how long it may take.
What does the first look cost?
The first look on WhatsApp or a call is free. After that you may pay a fee. We tell you the amount in writing before we start.