Did you know that your property has hidden value that can be unlocked? Or that, depending upon your present age and credit profile, you can sometimes secure a loan against property for a maximum tenure of 30 years?
Loan against Property is an easy and economical way to bridge any financial need - business expansion; or meet a personal requirement such as education for a son, daughter, self or spouse; a child’s marriage; foreign travel; medical expenses; buying high cost consumer durables or even refurnishing or renovating your home. Known as mortgage loans, a loan against property is the perfect way to unlock the value of your property. This loan is available at a reasonable rate and can be repaid comfortably over as many as 15 years, or longer.
LAP is available to both salaried and self-employed persons and against commercial as well as, residential property. The top feature is you don’t have to make a distress sale, only the papers are pledged to the bank to raise capital. If you repay the loan on schedule, you get it back, intact.