A Loan against Property is a secured loan where residential property serves as collateral for the lender. Borrowers can utilize the funds for various purposes.
Purpose
A Loan against Property serves multiple purposes for individuals as well as businesses such as starting a new business or expanding your existing business. In such circumstances, you can utilize your property to its full potential by availing a loan against property. Individuals often use it for the following purposes:
A Loan Against Property helps you to survive through tough times. Check out the steps to get instant approval with Shubham easy online process.
Apply online and our representative will reach out to you or visit our branch nearest to you.
Our representative will come to your place of work/home to explain the product and process and collect the necessary documents.
We evaluate your documents, have a discussion with you and do the necessary checks. If everything goes well, we sanction your loan.
Submit the remaining documents and your loan is disbursed.
What percentage of the property value can I avail as a LAP?
You can avail up to 50% of the property value as LAP. However, the amount will depend on the property type and other checks.
What type of property can I mortgage for LAP?
You can mortgage residential property for availing loan against property. However, the property should be free from any charge, i.e. there should be no other loan running on the property offered as a security for LAP.
What are the factors, other than the interest rate, that you should consider when choosing loan against property?
The loan amount & disbursal eligibility processing charges and other additional charges you will have to pay the repayment tenure of your loan
Can I take top-up loan to my existing property loan?
Yes, you can avail top-up loan on an existing LAP only if you have made timely repayment of EMIs for the current property loan.
