LAP is a secure long given or disbursed against the mortgage of the property for personal or business needs where the borrower gives a guarantee by using his / her property as security. The loan is given as a certain percentage (70%-140%) of the property market value. Borrower can avail this loan on self occupied, rented residential, commercial and industrial property. Bank provides 10-15 years tenure on LAP. At times these loans are taken for start or expand business or working capital.
- The maximum loan amount varies from bank to bank. The exact amount depends on your property valuation, income and of course repayment capacity.
- The maximum loan tenure is 15 years.
- The rate of interest varies according to bank and the borrower’s profile.
- The maximum age limit of eligibility is 60-70 years.
- A processing fee is charged and is usually 0.5% -1.5% of the Loan amount.
JP Finserv helps you in finding the Best Deal!
- Attractive Interest Rate starting from 10.50%
- Get Loan Upto 140% of Property Market Value.
Balance Transfer Facility + Additional Top – Up amount, Benefit of higher loan amount at reduced interest rates.