As the name recommends loan against property (LAP), is the loan that you avail by keeping your property as a mortgage with the bank. The loan is given as a specific percentage of the market value of the property. For the most part, banks lend up to 50% to 60% of the value of the property.
As your property is kept as collateral with the bank, it is a secured loan. In the event that you fail to repay the loan, the moneylender has the privilege to auction your property and recover the money.
- Loans accessible from 5 Lacs up to' 10 Crore
Tenure upto 15 years
Quick and Problem free loan