A Property Against Loan (LAP) is a secured loan where customers leverage their residential or commercial property to meet major financial needs without selling the asset.
It offers higher loan amounts at comparatively lower interest rates, making it a smart financing option.
LAP helps customers unlock the value of their owned property to fulfill important family and personal goals such as children’s education, marriage expenses, medical emergencies, business expansion, or debt consolidation.
The property remains in the customer’s ownership, ensuring long-term family security while addressing immediate financial requirements.
Property Against Loan offers lower interest rates than unsecured loans, higher eligibility based on property value, and longer repayment tenures.
Customers enjoy flexible EMI options, transparent charges, and the freedom to use funds for multiple purposes.
Documentation is simpler due to the secured nature of the loan.
Features & Benefits
1. **High Loan Amount:** Larger funding compared to personal loans.
2. **Lower Interest Cost:** Reduced EMIs due to secured structure.
3. **Multi-Purpose Usage:** Funds usable for personal or business needs.
4. **Cash Flow Management:** Helps maintain liquidity without asset sale.
5. **Credit Improvement:** Timely repayments strengthen credit profile.
Overall, Property Against Loan provides financial flexibility, stability, and smart utilization of property assets while meeting evolving family and business needs.