Loan against Property - Check More About Property loan - Loan Trivia


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Thursday 3 February 2022

Loan against Property - Check More About Property loan

loan against property eligibility

Have you heard about the concept of a loan against property (LAP loan)? 

A loan against property is a financial solution provided by top lenders in leading cities. 

You get to avail of a large loan amount when you keep your property as collateral with a lender. It is a secured loan option available at a lower rate of interest. 

If you want to know more about loan against property, here is a quick post!

What is a loan against property?

As the name suggests, a loan against property is available when you keep your property as collateral. If you fail to repay the loan on time, then a lender is entitled to liquidate your property to recover the funds. Based on your eligibility and other factors, you can get a large amount to be used for all needs without restrictions. 

What are the benefits of a loan against property?

  1. A large amount made possible 

You can enjoy a loan against property approval for an amount of up to Rs.3.5 crores. You are free to use the loan money for anything as per your needs. 

  1. Quick loan processing 

Eligible candidates are given faster loan approval within 24 hours after you submit all relevant documents. 

  1. Instant disbursal 

Once you are approved for a loan against property, lenders disburse the amount into your bank account within 72 hours. 

  1. Easy to meet eligibility conditions  

Since it is a secured loan, the loan against property eligibility terms is easy to meet and less complicated. 

  1. Flexible repayment tenor 

When you apply for a loan against property, you don’t have to hurt your outlays and pay a large amount every month as the EMI. It is because you can repay the LAP loan over a flexible tenor of up to 20 years. 

You can land on the portal of your preferred lender and apply for a loan against property by filling the online application form.  

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