Constantly striving to provide customers with the best loan deals, Tailor made product to suit your requirement, One stop solutions for any kind of financial need, All this at no extra cost.
Loan Against Property (LAP)
1. The loan received as loan against property can be used for
- business expansion
- To start a new business
- To repay the existing loans running at high rate.
- To consolidate multiple EMI’s into one single loan.
- To convert the cash credit limit into EMI base loan.
- To renovate house or else.
- For any other personal use.
- Funding existing business, Debt Consolidation, Emergencies, Education etc.
2. The loan amounts in loan against property varies from bank to bank. one can get loan from Minimum Rs.500,000 to Maximum Rs.1,00,000,000.
3. The maximum loan amount can go up to 75% of residential property and 60% of commercial property.
4. Collateral offered should be freehold (few banks lend against leasehold or power of attorney basis also). The property in case of loan against property can also be offered of the individuals which can be of directors / partners.
5. The loan against property carries a feature of quick disbursal, within 10 days of the submission of the application form and required documents.
- The individual takes the loan by mortgaging the house property.
- One of the cheapest retail loans after home loans.
- Maximum loan eligibility is determined primarily by the value of the property and income.
- Maximum loan tenure for LAP is up to 10 years (120 months)
- Secured loan
Copyright 2009 © www.easyfinance.in All Rights Reserved