Overview
A Loan Against Property (LAP) allows you to leverage your existing property to secure funding for business expansion, education, medical needs, or other purposes.
Who Can Apply
- Property owner (residential or commercial)
- Salaried or self-employed individuals
- Clear property title
- Acceptable credit history
Key Benefits
- Lower interest rates (secured)
- Higher loan amounts
- Longer tenure available
- Multiple end-use purposes
Required Documents
- Identity proof (Aadhaar, PAN)
- Address proof
- Income proof (salary slips / ITR)
- Bank statements (last 6–12 months)
- Property ownership documents
- Property valuation report
- Existing loan statements (if any)
Application Process
- Check your eligibility online
- Get matched with suitable lenders
- Submit required documents
- Application reviewed by lender
- Receive sanction letter from lender
- Complete agreement formalities
- Disbursement by lender
Frequently Asked Questions
LAP is a secured loan where you pledge your existing property as collateral to obtain funding for various purposes.
Yes, you retain possession and use of the property during the loan tenure. The property is pledged as security, not transferred.
Both residential and commercial properties may be accepted, subject to lender criteria regarding title, valuation, and location.
Lenders typically offer a percentage of the property's market value, which varies by lender and property type.