Main Factors to Considered LAP Loan

1. What is LAP Get Property Loan Now!

2. All to Know About LAP • Loan against property is a type of secured loan. Availing loans by pledging your property as a security or collateral with a lender is called mortgaging or loan against property. In Lap loan a person can mortgage his or her commercial or residential property or even though a plot. Attractive rates of interest and hassle free disbursement make loan against property a popular choice for salaried and self-employed individuals.

3. Benefits of LAP Loan • A person can use his asset that is the property in the time of need for business and personal use. • The loan against property is processed relatively faster and comes with comparatively low interest rates. • The loan is a good choice when drawing huge amounts. • No hidden charges. • You get your money in the bank within 4 days of application. • Salaried people can avail a loan amount up to Rs. 1 Crore whereas self-employed get an amount as high as Rs. 3.5 Crore.

4. What is LAP? Explained in Brief • A LAP loan given by the lender to the borrower against the property mortgaged which the borrower can further use for a large expense, such as children's education, child’s marriage, medical expenses, and expansion of the business. Unlike the unsecured loan, the loan against property involves a security that is the property, which the borrower can mortgage in case the loan is not repaid by the borrower. Hence, it is a type of mortgage loan. A LAP Loan serves as the best way to meet high-end financial requirements. As this loan facility comes with no condition on end-use, individuals can operate the advance amount as per their personal and professional needs. LAP loan does not hand over property ownership. It provides financial assistance against residential or commercial properties, considered as collaterals, to both self-employed and salaried individuals.

5. What is LAP? Is LAP loan beneficial? What is the interest rate percentage acquired on it? FIND OUT IN THE NEXT SLIDES

6. LAP Loan Eligibility The eligibility criteria for loan against property and check the documents required for loan against property is: • Latest Salary Slip • Bank Account Statement • PAN/AADHAR CARD • Address Proof • IT Returns • Documents of property There can be few changes on the basis of self employed and the salaried individual, so to check more about loan against property documents required you can visit bajajfinserv’s website.

7. Home Loan V/S LAP Loan Advantages of loan against property over home loan – • It has no end-use restriction - Unlike other secured advances such as home loans, loan against property has no end-use restrictions and can be utilized to fulfil any financial requirement ranging from medical emergencies to higher education expenses, travel costs and any other miscellaneous charges. • In-hand disbursal of loan amount - With home loans, the credits are transferred directly to the account to property owners and, thus, can be utilized only in purchasing the property.  • Easier documentation - Compared to home loans, the documentation process to avail loan against property is much easier.

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