Why Loan Against Property (LAP)?
Aditya Birla Finance extends the Loans Against Property (LAP) facility to enable the borrower to liquidate his owned property without selling it. The necessary funds are raised in a short period of time, subject to valuation of the property and the submitted documents. The loan helps the borrower tide over a financial crisis with minimum risk.
Is the Loan Against Property (LAP) facility for you?
If you are in immediate need of cash for personal or business needs, taking a LAP can transpire into an excellent financial decision. All the rights and accruements over the pledged property remain with you during the loan period. You can also take a property loan on the assets whose ownership is in your name but is leased out by you. However, you are unable to sell the pledged property during the loan period.
Hence, for a home restoration project or the purchase of a new commercial premises, the LAP facility is a worthy financial product to explore.
Features of Loan Against Property
Please ask us for the required set of documents at the time of inquiry to know your loan against property eligibility.
Collateral: Residential and commercial property
Tenure:Up to 15 years
Maximum loan amount:Up to Rs 75 crore
- Attractive loan against property interest rates
No pre-payment charges upto a maximum of 25% of your outstanding loan, once every financial year
Up to 60% of property value in case of commercial property, up to
70% in case of residential property
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