A Loan Against Property (LAP) is a type of secured loan where you borrow money by using your property as collateral. This property can be a piece of land, your house, or even a commercial building. While you still own the property, it stays with the lender as security until you’ve fully repaid the loan.
Why Choose a Loan Against Property
:-
Quick Approval :- Since it's secured by property, LAPs are often approved faster than unsecured loans.
Lower Interest Rates :- LAPs tend to have lower interest rates than personal loans, making them a more affordable option.
Flexible Loan Amounts :- The amount you can borrow is generally based on the value of the property you're pledging, allowing for larger loan amounts.
Longer Repayment Term :- LAPs often come with longer repayment periods, giving you more time to pay off the loan comfortably.
Loan Against Property Documents :-
Age Proof :- Submit a document like your PAN card, passport, or any certificate issued by a government authority.
Address Proof :- Provide documents like your passport, driver’s license, utility bill, ration card, voter ID, or any official certificate.
Education Proof :- Submit your most recent degree certificate.
Salary Slips :- Provide salary slips for the last 3 months.
Form 16 :- Include Form 16 for the last 2 years.
Bank Statements :- Provide your salary account’s bank statements for the past 6 months.
Property Documents :- Provide photocopies of the property’s title documents and the approved plan.
Features Of Loan Against Property :-
Large Loan Amounts :- Borrow a significant amount to cover your needs.
Loan Against Rent Income :- Use your rental income as security for the loan.
Meet All Your Needs :- Get the funds you need for any purpose.
Flexible Repayment Plans :- Choose a repayment plan that works for you.
Clear and Transparent Process :- Enjoy a straightforward and honest loan process.
Fast and Smooth Service :- Get quick approval and hassle-free service.
Easy Debt Consolidation :- Combine multiple debts into one easy loan.
