Loan Against Property

About Loan Against Property

Money Housing – Loan Against Property (LAP) is a secured loan that you can avail of by pledging your property as collateral. Banks fund upto 80% of the property value as a loan with affordable rate of interest. Loan against Property will always help you fulfil your Personal and Business requirements like Expending business, purchasing new property, building infrastructure Personal use, Renovating Home with modern furnishings and etc.
We connect you with the best Loan lenders in INDIA.

Lowest Interest Rate8.90%
Processing FeeMinimum amount
Loan TenureUpto 20 years
Lowest EMI Per Lakh₹ 728 Per Month
Prepayment ChargesNil foreclosure charges on floating rate home loans charges
Loan Against Property

LAP Balance Transfer (Benefits & Eligiblity)

LAP Balance Transfer Benefits

  • Easily transfer the existing amount from one bank or financial institution to another for better interest rates.
  • Top-Up loans are available based on eligibility and property value.
  • You can avail of loans from anywhere because of the integrated network and centralized processing.
  • Quick documentation and application processing.

Easily Available: These loans are easily available as the borrower is pledging his/her property.

Lower Interest Rates: The interest rates range between 8.90% to 18.00%. It is much lower compared to other loan types.

Long Tenure: The tenure for Loan Against Property ranges between 15 to 20 years. Longer tenure will have shorter EMIs.

Tax Advantages: Borrowers can avail of the tax benefits on the paid interest up to 2 Lakhs if the amount is used for funding a house.

Maximize Property Utilization: Using property as collateral will provide the borrower with a loan of up to 80% of the property value.

 

Eligibility for LAP

Age: Minimum – 21 years and Maximum – 75 years

Tenure: Up to 20 years

Income: Minimum income of Rs. 20,000 for salaried and Rs. 3 lacks per annual for self-employed.

Work Experience: Salaried – 1 year; Self-employed – 2 years

Cibil Score: 650 and above

Document Requirements

for The Loan Application

Application Form

Signed Application form with photo. Identity Proof – PAN card, Passport, Driving License, Aadhaar Card, Voter id, Govt issued i-card.

Address Proof

Any residence proof like Passport, Driving License, Election ID card, Electricity/ Mobile bill/ Bank statement (not more than 3 months old) etc.

Income Proof

Salary slip, bank statement of 6 months, Last 2 years Form 16 or filled ITR and “Documents Related to Property”