Guidelines To Avail A Loan Against Property

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What is LAP

• Get Property Loan Now!

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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.

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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.

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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, childs 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
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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 bajaj finservs website.

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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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