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's work
- - 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