Overview
Loan Against Property (LAP) is a secured loan that you can obtain by pledging your residential, commercial, or industrial property as collateral. It offers high value funding at lower rates than personal loans.
Features & Specifications
- Higher loan amount up to 70% of property market value.
- Lower interest rates compared to personal loans.
- Longer repayment tenure up to 15 years.
- Both residential and commercial properties accepted.
Interest Rate
9.00% - 11.50% p.a.
Processing Fee
0.50% - 1.00% of loan amount
Eligibility Criteria
- Salaried or Self-Employed Indian Citizen.
- Age: 21 to 65 years.
- Clear title deed of the property to be mortgaged.
- Stable source of income.
Documents Required
- KYC Documents (PAN, Aadhaar).
- Income proof (ITR/Salary Slips & bank statements).
- Complete chain of property documents.
- Approved building plan.
Key Benefits of Applying via Loan Sahyog
- Cheaper source of high-volume funds.
- Flexible EMI structures.
- Property remains in your use while repaying.