LOAN AGAINST PROPERTY(LAP)
High Loan Amount
Loan is extended to the extent of 50%-80% of the Market Value of the property, this makes LAP a viable option for meeting significant financial needs like business expansion, medical emergencies, or higher education.
Lower Interest Rates
Since it is a secured loan, interest rates are generally lower than personal loans. This reduces your overall repayment burden.
Purpose-Driven Loan
There are no restrictions on the usage of the loan amount. You can use it for various purposes, including:
- Business needs
- Debt consolidation
- Personal requirements like weddings, education, or medical emergencies
Flexible Tenure
Repayment tenures for Secured Loans are for Longer tenor, allowing borrowers to repay the loan conveniently through affordable EMIs (Equated Monthly Installments).
Retain Ownership of Property
Enjoy the property rights & Usage at the same time increase your liquidity by offering as collateral
Multiple Property Types Accepted
You can Mortgage :
- Residential property
- Commercial property
- Industrial property
- Land (depending on lender policies)
Easy Eligibility
Eligibility for LAP is based on factors such as:
- The market value of the property
- Your income and repayment capacity
- Credit score and financial stability
Required Documents
To apply for a Loan Against Property, you will need:
- Identity Proof: Aadhaar, PAN, Passport, etc.
- Address Proof: Utility bills, rent agreement, etc.
- Income Proof: Salary slips, IT returns, or business financials
- Property Documents: Title deed, sale agreement, and valuation report