Loan Against Property
Loan Against Property allows you to use the value locked up in a property and helps you to meet up your expenses. Loan Against Property often termed as LAP Loan is a secured loan that banks, housing finance companies and NBFCs provide against residential or commercial property. These loans are usually offered at a lower interest rate as compared to a personal loan or business loan and are disbursed at a reasonable time.
At Service Sathi, we provide customized property loan depending on your requirement. Thus, you may be salaried, self-employed or an SME - rest assured, we have a product for you. Our streamlined process with minimal documentation ensures a hassle-free experience for every customer.
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Benefits & Feature of Loan Against Property
Long Repayment Tenure
The payment tenure of Loan Against Property is generally longer as compared to personal loans or business loan and it can be stretched up to 15 years.
Low Interest Rates
As compared to other unsecured loans like persoanl loan or business loan the interest rates of Loan Against Property are generally lower in comparision.
Lower EMIs
As the payment tenure of Loan Against Property is longer hence the EMI amount is lower too and as the EMI burden is reduced thus the burden is also reduced.
Easy to Avail
As Loan Against Property is secured in nature hence all the financial institutions are willing to provide you with the credit with a hassle free documentation.
Why Should I Apply for
Loan Against Property
Greater Flexibility
The flexibility for LAP loan is much greater as compared to other types of loans as it is secured in nature hence it asures greater flexibility.
Lower Interest Rates
The interest rate associated with LAP loan is also much lower in comparision with personal loan or business loan.
Higher Loan Amount
The loan amount with LAP loan is much higher as Real Estate is expensive and lot of money is required to build up house.