Loan Against Property(LAP) can be availed by both salaried and self employed individuals for personal and professional needs (Other than for speculative purposes) like marriage, Child's education, business expansion, debt consolidation etc.
Benefits:
- Ideal use of idle property-Generate additional income from an otherwise idle property.
- Withdraw money as per your need and save on interest cost.
- Deposit surplus money/regular income/salary and save interest.
- Flexibility to withdraw money deposited earlier.
- Can be availed either as overdraft or demand loan as per your need.
- Competitive rate of Interest
Purpose
For any purpose except for financial speculation of any nature (Persons engaged in Property development/ property dealings/brokers, Stock brokers and persons engaged in any speculative activity not eligible under the scheme)
HUF / TRUST/ PUBLIC LIMITED COMPANY ARE NOT ELIGBLE UNDER THE SCHEME.
Security
Mortgage of Immovable Properties:
- Residential Property (House/Flat)
- Commercial property (Building/Land & Building)
- Plot of Land (not agricultural land)
Margin
50% on Realizable Value of immovable properties as assessed by particular bank subject to terms & conditions
For more information please fill the enquiry sheet and one of our executive will call you back.
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