Loan Against Property
What is Loan Against Property?
Loan against property (LAP) means a loan that is disbursed or given against the property. The loan is given at a certain percentage of market rates of the property, mostly around 70% – 90%. Loan against property(LAP) is the component of secured loan group where the borrower allocate a guarantee by using property as security.
Advantages of Loan Against Property
- Lower interest rates as its secured loan.
- The loan amount can be used for Business Working Capital.
- Greater Credit Eligibility.
How to apply for Loan Against Property
Documents required for Loan Against Property or Mortgage Loan
PROCESSING FEE CHEQUE
COPY OF PROPERTY DOCUMENTS
LAST 3 YEARS BALANCE SHEET
LATEST OD/CC SANCTION LETTER
INCOME TAX RETURN OF LAST 3 YEARS
PROOF OF BUSINESS
PROFIT & LOSS STATEMENT
Minimum Requirements for Loan against property
₹ 35 Lakhs