Loan Against Property

LOAN AGAINST PROPERTY :

Obtain a Loan Against Property (LAP) - Meet your financial requirements with a loan secured by your property mortgage. Open to both salaried individuals and self-employed professionals

Affordable EMIs

  • Quick Access to Funds
  • Rapid and Convenient Loan Processing
  • Swift Approval Process
  • Flexible Repayment Terms
  • Straightforward and Minimal Documentation
  • Simple Balance Transfers

A Loan against Property (LAP), commonly referred to as a mortgage loan, enables individuals to secure funds by using their residential, commercial, or industrial properties as collateral. Similar to unsecured personal loans, LAP can be utilized for various personal and business purposes, excluding speculative activities.Financial institutions, including banks and Housing Finance Companies (HFCs), provide LAP with repayment terms extending up to 20 years.

The loan amount can reach up to 75% of the property's current market value, subject to the lender's criteria and the borrower's creditworthiness. Additionally, many lenders offer a Lease Rental Discounting (LRD) option, allowing borrowers to receive a loan by securing it with the rental income generated from their tenants.

** Advantages and Features of Loan against Property **
Here are the key features and advantages of a loan secured by property:

  • Reduced interest rates - Due to its secured nature, this loan significantly lowers the lending risk for banks and NBFCs, enabling them to provide lower interest rates.
  • Flexible usage - Borrowers can utilize the funds for various purposes, such as consolidating high-interest debts, funding weddings, or expanding businesses, provided they avoid speculative investments.
  • Extended repayment period - Lenders commonly offer repayment terms of up to 20 years on loans against property, leading to more manageable monthly payments.
  • Larger loan amounts - Typically, lenders will provide finance for up to 70% of the property's value, resulting in larger loan sums.
  • Increased approval likelihood - With the loan being secured by property, the reduced lending risk boosts borrowers’ chances of securing approval from banks/NBFCs.
  • Overdraft option - Borrowers may also access an overdraft facility through this loan, enhancing their liquidity at a lower interest rate.
Bank Name Interest Rate Processing Fee Loan Amount Tenure Range
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