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Unlocking Financial Potential: Loan Against Property

Loan against property is a viable financing option for individuals and businesses.

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Unlocking Financial Potential: Loan Against Property

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  1. UNLOCKING FINANCIAL POTENTIAL • LOAN AGAINST PROPERTY • WWW.HEROFINCORP.COM

  2. INTRODUCTION Loan against property (LAP) is a secured loan obtained by pledging a residential or commercial property as collateral. LAP allows individuals or businesses to access a substantial amount of funds by leveraging their property's value.

  3. KEY FEATURES OF LOAN AGAINST PROPERTY • Collateral: The property acts as collateral, reducing the risk for the lender. • Loan Amount: Borrowers can avail a loan amount based on the property's market value. • Interest Rates: Generally lower interest rates compared to unsecured loans due to the collateral provided. • Repayment Tenure: Longer repayment tenure, typically ranging from 5 to 20 years. • Flexible Usage: Funds can be utilized for various purposes, such as business expansion, education, medical expenses, debt consolidation, etc.

  4. ELIGIBILITY CRITERIA • Property Ownership: The applicant must be the owner of the property being pledged. • Property Type: Residential or commercial property, including self-occupied or rented. • Property Valuation: The market value of the property determines the loan amount eligibility. • Age Criteria: The borrower must meet the minimum age requirement set by the lender. • Income and Creditworthiness: Lenders assess the applicant's income stability and credit history.

  5. THANKS FOR WATCHING

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