Loan Against Property in India
Want funds to run a business or any other purpose. If you are hesitant to borrow from friends or relatives, you can opt for loan against property (LAP) in case you own a residential or commercial property, by pledging collateral as a security you can borrow lump sum loan amount to fulfill your requirements- this is how loan against property in India works.
Typically, a Loan Against Property in India mortgage loan that aids individuals to invest in their business ventures. With a LAP; you can leverage the value of the property and get your work done.
Get maximum fund against the market value of your property at the best mortgage loan interest rates. In the meanwhile, you can focus on growing your business from the comfort of your own property
Loan Against Property: Benefits
Benefits of Loan Against Property vary across different lenders and loan schemes. However, some of the common mortgage loan benefits are as below:
- Flexible End Use: Like personal loan, loan against property can be used for both personal and business purposes other than any speculative use
- Low Interest Rate: The interest rate on a secured loan is lower than the interest rate on an unsecured loan. This makes loan against property a cheaper and a better alternative to personal loans
- Flexible Tenure: The tenure of loan against property usually extends up to 20 years, giving you the benefit of lower EMIs and greater flexibility of repayment