Loan Against Property (LAP)
LAP loans provide borrowers with the opportunity to unlock the value of their property and utilize it for purposes such as business expansion, debt consolidation, education expenses, medical emergencies, or any other personal or professional requirements.
Eligibility
The eligibility for LAP loans depends upon various factors including the following important ones:
- Income of applicant
- Credit health of applicant
- Property type
- Property value
Features
- Hassle free process
- Loan amount ranges between 1-10 lacs
- Tenor ranges between 5-7 years
- Affordable rate based on customer risk parameters.
- No hidden cost
Documentation
Easy and minimal post sanction, documentation process:
- KYC and regulatory documents
- Loan agreements + Promissory note + Security PDCs + ACH
- Collateral related documents
