There are many option of getting loan. You may
apply for personal loan, business loan, home loan etc. However Loan against
property is the best option of financing. You may get low EMI, Low interest
rate and long tenure loan if you opt for Loan against Property
What is Loan against Property (LAP)?
• Loan Against property is a secured commercial long term credit/loan
facility provided by the Banks and NBFCs.
• Under this facility, property owned by the borrower is mortgaged as a
security for the loan availed.
For what purposes, LAP can be availed?
• LAP can be availed for both business and individual requirement
purposes
• Business Purpose – business expansion, long term corporate loan,
machine purchase, property purchase where loan is not possible, etc.
• Individual Purpose – child's education, child's marriage, property
purchase where loan is not possible, renovation of existing house, etc.
What are the main features of LAP facility?
• Loan amount ranges from Rs.15 lacs to Rs.50 crores
• Maximum loan of up to 70% of the market value of the property offered,
could be availed
• Higher tenure of 10 years to15years is available for easy repayment
• Lower annual interest rates (11%-14%) as compared to personal loans
and unsecured business loans (16% - 22%)
• Lower EMI (Equated Monthly Installment) for better monthly funds
management
• Faster process for sanction and disbursement of loan as compared to
corporate loans
• Simple and easy documentation
• Both salaried and self employed individuals can avail the loan, apart
from firms and corporate.
• Option for loan prepayment is also available
• In case, the loan is used for business purposes, whole of interest
amount on the loan could be booked under business expenses
Who Can Apply for LAP?
• Any Individual or Company / Firm can apply for Loans
against Property, having a good credit history, regular income and
owns a property.
How to get / apply for LAP facility?
• Borrower may submit his requirement through online simple application
form available on our website or may call us at 011-42427191.
• Our trained financial advisors will guide you for all your loan
related queries and provide the door step services for availing the LAP
facility from the bank of your choice.
• We are authorized channel partners of various private/public sector
banks and major NBFCs.
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