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LAP Loan

Credit against property (LAP) is otherwise called 'Home Equity Loans' and is fundamentally a sort of advance against the security of one's property. LAP is intended to meet the monetary needs of a man who as of now possesses a house, which is free from any encumbrance (i.e. it isn't given as security for any reason).

The highlights of our LAP Loans are :

  • Quick disbursal
  • Flexible repayment terms
  • Easy, convenient and quick application process
  • No collateral/guarantor required

Finexperts can provide LAP Loan from :

lap 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.

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Eligibility for a Loan Against Property

For salaried people, and for experts and representatives who are independently employed, the credit against property qualification necessities in banks or for different establishments are really comparable.

  • Ought to be no less than 21 years at the season of accommodation of the credit application
  • Must be an Indian national
  • More likely than not been utilized by the present association or ought to be engaged with the present business for a particular number of years
  • Meets the base required pay and in addition month to month reimbursing limit
  • A decent financial record with demonstrated reputation of auspicious advance EMI and Mastercard charge reimbursement may help secure a lower loan cost and lessen handling times

Documents for a LAP Loan

For Self-employed Businesspersons :

  • Photo Identity Proof : Passport/Pan Card/Voters ID Card
  • Residence Address Proof: Passport/Ration Card/Utility Bill
  • Residence Ownership Proof:Property Documents/Maintenance Bill/Electricity Bill
  • Business existence proof/business profile details
  • Acknowledged Income Tax statements of the company and self for previous 3 years
  • Last 6 months’ bank statement.
  • Previous 3 years’ balance sheets as well as P&L Statement of the company.
  • Office Address Proof: Property Documents /Maintenance Bill/Utility Bill

for Salaried Person :

  • Photo Identity Proof : Passport/Pan Card/Voters ID Card
  • Residence Address Proof: Passport/Ration Card/Utility Bill
  • Residence Ownership Proof:Property Documents/Maintenance Bill/Electricity Bill
  • Income Proof: Latest 3 months Salary Slips and Form 16.
  • Bank Statement: Latest 1 year statement where your salary is getting credited
  • 2 passport size color photograph

Benefits of Loan Against Property

Advance against property is a secured advance which implies it is offered just when you offer a property claimed by you as security with the bank. Individual advance financing cost is allotted by the client's pay, the sum being acquired and other criteria as determined by the bank.

  • Lower interest rate:
  • Easy to get
  • Longer tenure
  • Lower to no prepayment charges
  • Lower EMI
  • The processing of LAP is faster than a housing loan, as the property already exists.

Our Loan Patners

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