18/01/2022 Financial & Legal Services
Loan against Property (LAP), also called loan, is sanctioned against an asset, which remains with a lender until the loan is repaid. This asset is often a residential, commercial or industrial property. Property loan gives you access to high loan amount at a coffee charge per unit starting at 8.20% p.a.
Lenders usually sanction a real estate loan between 50% and 70% of the property’s market price, which you’ll repay easily in EMIs stretching up to twenty years. Like unsecured personal loans, LAP Loan or loan against property interest rate can also be availed for meeting both personal and business needs apart from speculative purposes.
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