Key Features
- Loan amount: usually 60% to 80% of property value.
- Interest rates often start around 8% to 13.5% per year.
- Tenure: generally 5 to 15 years (sometimes higher).
- Usable for business, education, medical, or debt consolidation.
Our Services
Loan Against Property
A Loan Against Property (LAP) is a secured loan where you pledge your residential, commercial, or industrial property as security and get funds from a bank or finance company. You still keep ownership of the property, but if you don’t repay, the lender can take legal action to recover dues.
Back to ServicesHow It Works
- You mortgage your property to the bank.
- Bank gives loan based on property value + your repayment capacity.
- You repay through monthly EMI.
- Property documents stay with lender until full repayment.
- You can use LAP funds for business, education, medical needs, or debt consolidation.
Eligibility Criteria
- Age: around 21 to 60 years at maturity.
- Salaried or self-employed with stable income.
- Credit score: 700+ preferred.
- Property must be legally owned & dispute-free
Documents Required
- Aadhaar and PAN.
- Address proof.
- Income proof (salary slip/ITR).
- Bank statement.
- Property papers.
Advantages
- Lower interest than unsecured loans
- Large loan amount possible
- Flexible usage of funds
- Longer repayment period
Things To Check Before Applying
- ❗ Property is collateral → risk if EMI not paid
- ❗ Processing fee(0.2% to 1%)
- ❗ Interest usually higher than home loan
Example
- Business expansion
- Medical emergency
- Higher education
- Debt consolidation