Loan Against Property (LAP) is a secured loan and provided against property as collateral. This loan is available against residential, commercial and industrial property.LAP facility availed for long tenures ranging between 5 to 15 years, allowing the borrower to repay in low installments as compared to personal loan and business loan. The rate of interest is also low as compared to unsecured loans so that the borrower gets time for business expansion and growth and keep scope for further funding in future with property appreciation.LAP is being provided to all kinds of entities like proprietor, partnership companies, private limited companies and even salaried customers. The loan amount depends on the valuation of the property and can be varied from 50% to 100% depending on types of property and concerned bank.
Ad ID: 22946