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Loan Against Property

Introduction

Loan against Property (LAP) or mortgage loan is a secured loan offered by banks and NBFCs against self-occupied / rented residential, commercial & Industrial property owned by the applicants.
 
​The amount, which is availed by keeping the property as collateral till the loan is fully repaid, can be used by the borrower for various purposes like expanding a business, funding children’s education, meeting medical expenses, House  / Office Renovation, and more.
 
​The applicant can avail of a maximum loan amount of up to 85% of the property market value.  The LAP is one of the best low-cost products to avail quick long term funding from banks to meet all personal and business needs.

Features and Benefits of Loan against Property

  • Best product for high amount and for a longer-term

  • Suitable for business and can be used for working capital requirement.

  • Cost-effective as compare to Business loans & Personal loans

  • Suitable for Salaried and self-employed

  • The maximum term available is 15 years

A Service Consultant holding a small miniature of a House between both hands on his desk

How much can I borrow?

The Loan amount will be based on the following factor, which varies for the property type and current usage of the property.
Residential Property

• Self-Occupied property: – Maximum loan can be up to 85% of Market Value

• Rented Property: Maximum loan can be up to 60% of Market Value

Commercial Property

• Self-Occupied property: – Maximum loan can be up to 70% of Market Value

• Rented Property: Maximum loan can be up to 60% of Market Value

Industrial Property

• Self-Occupied property: – Maximum loan can be up to 45% of Market Value

Need more details? Contact us

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