Contact Us
Contact Us
X

A loan against property (LAP) is a secured loan that allows you to borrow money by pledging your property as collateral. This type of loan offers lower interest rates and higher loan amounts, making it an attractive option for individuals and businesses.

Loan Against Property

We offer loans through the following banks

Banks

Benefits of Loan Against Property

  • Lower Interest Rates: LAPs offer lower interest rates compared to unsecured loans, making them a cost-effective option.
  • Higher Loan Amounts: The loan amount is determined by the value of the property, allowing you to borrow larger sums.
  • Longer Repayment Tenure: LAPs often come with longer repayment tenures, making it easier to manage your finances.
  • Tax Benefits: The interest paid on LAPs is eligible for tax deductions under certain conditions.

Eligibility Criteria

  • Property Ownership: You must be the owner of the property being pledged.
  • Income: You must have a stable income source to repay the loan.
  • Credit Score: A good credit score can help you qualify for better interest rates.
  • Property Type: The property being pledged must be a residential or commercial property.

Standard Documents Required

  • Identity Proof: PAN card, Aadhaar card, or other government-issued ID.
  • Address Proof: Aadhaar card/VoterID/passport/driving license or utility bills, rental agreement, or other address proof documents.
  • Income Proof: Salary slips, Form 16 for the last 2 years, bank statement or last 3 years of ITR, Form 26 AS last 3 years, and bank statement for 1 year.
  • Property Documents: Legal & Technical Documents

Uses of Loan Against Property

  • Business Expansion: Use LAP to fund business expansion, purchase new equipment, or meet working capital requirements.
  • Personal Needs: Meet personal financial needs, such as medical emergencies, education expenses, or wedding expenses.
  • Debt Consolidation: Consolidate high-interest debts into a single, lower-interest loan.

Things to Consider

  • Risk of Property Loss: Failure to repay the loan can result in the loss of your property.
  • Interest Rates: Compare interest rates offered by different lenders to find the best deal.
  • Loan Tenure: Choose a loan tenure that aligns with your financial goals and repayment capacity.

By understanding the benefits and requirements of a loan against property, you can make an informed decision and use this financial tool to meet your needs.

Contact Info

Inquire Now