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Loan Against Property (LAP)
Loan Against Property (LAP)
A Loan Against Property (LAP) allows you to leverage the value of your property to meet your financial needs. By offering your residential or commercial property as collateral, you can secure a high-value loan at lower interest rates, making it an ideal option for large financial requirements.
Loan Against Property (LAP)
A Loan Against Property (LAP) allows you to leverage the value of your property to meet your financial needs. By offering your residential or commercial property as collateral, you can secure a high-value loan at lower interest rates, making it an ideal option for large financial requirements.
Key Points:
1
Large Loan Amounts
LAP enables you to borrow substantial amounts, typically up to 60-70% of the property’s market value.
2
Lower Interest Rates
Since the loan is secured by property, lenders often offer lower interest rates compared to unsecured loans.
3
Flexible Usage
The loan amount can be used for multiple purposes, including business expansion, education, or personal expenses.
4
Longer Repayment Tenure
LAP offers extended repayment tenures, making it easier to manage EMI payments over a longer period.
5
Retain Property Ownership
You continue to own and use the property while leveraging its value to meet your financial needs.
6
Tax Benefits
Interest paid on LAP can sometimes be tax-deductible if the loan is used for specific purposes like business expansion.
Loan Against Property (LAP) is an excellent way to unlock the value of your assets while retaining ownership. With large loan amounts, lower interest rates, and flexible repayment options, it provides a reliable solution for meeting significant financial needs.
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