top of page
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
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
bottom of page