A Loan Against Property (LAP) allows individuals and businesses to leverage the value of their residential or commercial property to avail of funds for various financial needs, including business expansion, education, medical expenses, or debt consolidation
Unlock the hidden value of your property with a Loan Against Property. Get high loan amounts at lower interest rates while continuing to own and use your property. Ideal for personal and business financial requirements.
Usually, up to 60-75% of the property’s market value.
Yes, you remain the owner while the property is mortgaged.
Residential, commercial, and industrial properties are eligible.
Interest rates range between 8% to 14%, depending on the lender.
Generally, 5 to 15 years, depending on the lender.
No tax benefits unless used for business purposes.
Yes, incomplete properties are usually not accepted.
All co-owners must be co-applicants for the loan.
Yes, but terms vary by lender.
Yes, lenders will conduct a legal and technical valuation.
Usually 7-15 days, subject to property verification.
Yes, but foreclosure charges may apply.
Yes, co-owners can apply jointly.
The lender may auction the property after multiple missed EMIs.
Yes, LAP can be used for personal and business needs.
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