A loan against property LAP is a secured loan where the borrower provides the property documents of the asset as security to the finance provider. This asset can either be the owned piece of land, the house or any other premise used for commercial purposes. The property or the asset continues to be pledged in favour of the lender until the entire loan against property amount is recovered.
Loan Against Property is a kind of mortgage loan which can be provided to an individual, a firm or a company whereby the borrower uses the property he or she possesses as security for obtaining the loan.
A Loan Against Property is a way where you can unlock the value of the real estate that you own. With a loan collateralized by your property, you are able to get a loan and pay it back through regular installments of EMIs and are not completely surrendering ownership of your property.
Section 5: Uses of a Loan Against Property
A Loan Against Property can be taken for utilization for working capital, expansion of business, debt syndications, acquisition of machinery, other business requirements and so on.
Take Loan against Property (LAP)
Meet your financial needs by securing a loan against your property with the bank. This option is available for both salaried and self-employed individuals.
- Quick approvals ensure you get the funds you need promptly.
- Flexible repayment tenure that suits your financial situation.
- Simple and hassle-free documentation process.
- Easily transfer your outstanding loan balance for better terms.
- Low EMIs make repayments manageable.
- Immediate availability of funds when you need them.
- Fast and straightforward loan processing for your convenience.
