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Now apply for a Loan Against Property online, All you need to do is provide your details below application form.

About Loan Against Property

Loan against Property (LAP ) is a very unique product which couples the feature of a personal loan and a secured loan . This loan product helps in unlocking the value of the most precious asset," Property".

Loan against Property (LAP ) is a very unique product which couples the feature of a personal loan and a secured loan. This loan product helps in unlocking the value of the most precious asset," Property".

Both residential and commercial properties can be mortgaged for taking a loan against property to meet your personal or business needs. The end use of the loan is not monitored when compared to any other secured loan which generally comes with a specific purpose. LAP ia a perfect choice for businesses to reduce their borrowing cost and consolidate debt at a lower cost.


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Features of Loan against property

  • The loan is secured in nature.
  • Only those who own a clear and marketable property can avail this loan
  • Loan is long term in nature, tenure usually ranges between 7 to 15 years depending on the use of property(commercial or residential).
  • Interest rates are low when compared to an unsecured loan.
  • Funds can be used for any personal or business purpose.
  • Best suited for people looking for debt consolidation and business expansion.
  • Quantum of loan is high depending on the value of property. It increases the future borrowing capacity along with property appreciation.
  • The loan can also be used as a normal overdraft or a dropline overdraft (depending on the lender)

Loan Against Property - Eligibility

Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a Loan Against Property.

Age

Maximum age of applicant at loan maturity: 60 years

Income

Minimum Net Monthly Income: Rs 20,000

Credit Rating

Applicant should have the bank specified credit score.

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