This secured loan where the borrower pledges their property (residential or commercial) as collateral to secure a loan. Before opting for a Loan Against Property, it's essential for borrowers to carefully review the terms and conditions, interest rates, and repayment terms offered by different lenders. Additionally, borrowers should assess their financial needs and capacity to repay the loan before pledging their property as collateral. Types of Loan Against Property we do:
Loan Against Property for Debt Consolidation
Individuals with multiple high-interest debts can use LAP to consolidate their debts into a single loan with a potentially lower interest rate.
Loan Against Property Balance Transfer
Borrowers can opt to transfer their existing LAP to another lender offering better terms and conditions. This can help reduce interest rates or improve loan terms.
Loan Against Property for Medical Expenses
Similar to education loans, LAP for medical expenses is tailored to cover medical bills, surgeries, or other healthcare-related costs.
Loan Against Property for Education
Some financial institutions offer LAP specifically designed to fund education expenses, such as tuition fees or other educational costs.
Top-Up Loan Against Property
Borrowers with an existing LAP can apply for a top-up loan, which allows them to borrow additional funds against the same property without going through the entire loan application process.
Loan Against Industrial Property
Owners of industrial properties can pledge their assets to secure a loan. This type of loan is commonly used for business expansion or operational needs.
Lease Rental Discounting (LRD)
Commercial property owners receiving rental income can pledge future rental cash flows as collateral. The loan amount is determined based on the discounted value of the future rental income
Loan Against Vacant Land
Borrowers can use vacant land they own as collateral to secure a loan. The loan amount is determined based on the market value of the land.
Commercial Property Loan
Similar to residential property loans, borrowers can pledge their commercial properties (office spaces, shops, warehouses) to secure loans. These loans are typically utilized for business expansion or working capital.
Residential Property Loan
Borrowers pledge their residential property (house or apartment) as collateral to secure the loan. These loans are often used for personal or business purposes.