Loan Against Property
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Your property is one of your biggest assets. Apply for an easy loan on the property.

Loan Against Property

A loan given or disbursed against the mortgage of property is a loan against property. It is a loan that can be availed by mortgaging your property. Whenever we mortgage property to a bank, a loan is sanctioned by the bank for the loan against property. it can be taken from banks and financial institutions against residential, commercial property Or any land may be agricultural land, commercial land or residential land, plot, etc.

Loan Against Property
Loan Against Property


 Fund your child’s education abroad
 For funding any medical emergency
 Wedding of your child
 Funding the dream vacation
 Business expansion

Kind of property : You can mortgage a self-occupied house as well as a rented residential property or it can be a piece of land that you own. However, it is necessary that the property is free from any kind of mortgage of litigation. Basically, the title of the property should be clear.


 Simple approval process : The process of approval for availing a LAP is comparatively simpler. Since these loans are secured, the scrutiny a loan application goes through is relatively lighter. This is opposed to unsecured business loans, where the risk factor is greater due to the absence of collateral. Hence the screening process for the latter is elaborate and time-consuming. In the fast-changing world of business, opportunities are short-lived. The relatively simpler and quicker loan approval process often proves crucial in allowing a business owner to take advantage of a market opportunity.

 Lower interest rates : Since LAP is a secured loan, the interest rates are generally lower, when compared to various other types of loans available in the market. For a borrower with a favorable credit score and borrowing history, the low-interest LAP can prove to be the instrument of choice for meeting a wide range of financing requirements.

Loan Against Property

 Flexible repayment tenure : A LAP comes with flexible repayment tenure, lasting anything between 10-15 years or even 20 years in case the loan amount is high. This gives the borrower plenty of time to repay the amount and thus reducing any unnecessary financial burden on his venture.

Moreover, the borrower gets the option of repaying their debt through equated monthly installments, or as overdrafts. The borrower’s credit score and account history, along with the value of their property, determines the overdraft limit.

 Continuous ownership : In LAP the borrower continues to retain the ownership of the property. So, if the borrower is unable to repay the amount for any reason, they have the option to sell the property and settle the loan.

 Pre-closure : LAP comes with an option to pre-pay the loan amount without penalties, except if the loan was on a fixed interest. This means that the overall interest burden and the tenure of the loan can be reduced by paying a small additional cost.

 Optimum use of a property : Loan against property helps in unlocking the hidden value of a property. In case a borrower needs funds and he has a property to offer as collateral, he may consider leveraging the value of the property to satisfy his financial needs.

That way, the borrower can retain ownership of the property and can still secure a loan at a comparatively low rate of interest.

Loan Against Proptery


You are eligible if you are:

 An individual who is an Employee or a Professional, self-employed or an income tax assesses or NRIs
 Minimum net monthly income of Rs. 25000/-
 Loan under LAP should be liquidated before the eldest borrower attains the age of 70 years.

Documents Required

For Salaried :

 Latest Salary Slips
 Bank account statements of the previous 3 month
 PAN Card/Aadhaar Card
 Address Proof
 IT Returns
 Copy of the documents of the property to be mortgaged

For Self-Employed :

 Bank account statements of the previous 6 months
 PAN Card/Aadhaar Card
 Address Proof
 Copy of the documents of the property to be mortgaged

Loan Against Property

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