Loan Against Property the Best Option Of Financingadmin
There are many option of getting loan only need you guide when proper information for the about loan and document then get you easy loan giving best guide through loanvenue team . You may apply for personal loan, business loan, home loan etc . However Loan against property is the best option of financing . You may get low EMI, Low-interest rate and long tenure loan if you opt for Loan Against Property
What is Loan Against Property (LAP)?
- Loan Against property is a secured commercial long term credit/loan facility provided by the Banks and NBFCs.
- Under this facility, property owned by the borrower is mortgaged as a security for the loan availed.
For what purposes, LAP can be availed?
- LAP can be availed for both business and individual requirement purposes
- Business Purpose Ebusiness expansion, long term corporate loan, machine purchase, property purchase where loan is not possible, etc.
- Individual Purpose Echild’s education, child’s marriage, property purchase where loan is not possible, renovation of existing house, etc.
What are the main features of LAP facility?
- Loan amount ranges from Rs.15 lacs to Rs.50 crores
- Maximum loan of up to 70% of the market value of the property offered, could be availed
- Higher tenure of 10 years to15years is available for easy repayment
- Lower annual interest rates (11%-14%) as compared to personal loans and unsecured business loans (16% E22%)
- Lower EMI (Equated Monthly Installment) for better monthly funds management
- Faster process for sanction and disbursement of loan as compared to corporate loans
- Simple and easy documentation
- Both salaried and self-employed individuals can avail the loan, apart from firms and corporate.
- Option for loan prepayment is also available
- In case, the loan is used for business purposes, whole of interest amount on the loan could be booked under business expenses
Who Can Apply for LAP?
- Any Individual or Company / Firm can apply for LAP, having a good credit history, regular income and owns a property.
How to get / apply for LAP facility?
- Borrower may submit his requirement through online simple application form available on our website.
- Our trained financial advisors will guide you for all your loan related queries and provide the door step services for availing the LAP facility from the bank of your choice.
- We are authorized channel partners of various private/public sector banks and major NBFCs.