Loan against property (LAP) implies an advance that is dispensed or given against the property. The credit is given at a specific level of market rates of the property, generally around 70% – 90%. Credit against property(LAP) is the part of secured advance gathering where the borrower dispense a certification by utilizing property as security.
Your property can be the gift in more than one way. You can open the shrouded capability of your well deserved property now and again of budgetary emergency by profiting a simple and helpful advance against your private or business property.
Advantages of LAP Loan:
In the event that the credit against property is looked for individual uses, the measure of advance allowed goes between Rs. 1 lakh to Rs.5 lakh. In the event that taken for business utilize, sum running from Rs. 5 lakh to Rs. 500 lakh can be taken as advance
LAP Loan from Private Bank : Standard Chartered Bank, ICICI Bank , Yes Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, HSBC Bank, Induslnd Bank and RBL Bank.
LAP Loan from Non Banking Financial Company (NBFC) : Fullerton India, Aditya Birla Finance, LIC Housing Finance, Magma Fincorp, Reliance Capital, DHFL Home, Indiabulls, Tata Capital, Bajaj Finserv, Capital First.