What is Loan Against Property (LAP)?
A Loan Against Property (LAP) is a secured loan where you pledge your residential or commercial property as collateral to borrow funds. It's an excellent way to unlock the value of your property without selling it. The loan amount is determined based on the market value of your property, typically up to 60% of the property value.
At Vision Paid, we help you get the best LAP deals from leading banks and NBFCs. Whether you need funds for business expansion, education, medical emergencies, or any other purpose, LAP offers you substantial funds at attractive interest rates.
Types of Properties Accepted
- Residential Property - Self-occupied or rented residential flats, apartments, independent houses
- Commercial Property - Shops, offices, showrooms, commercial buildings
- Industrial Property - Factories, warehouses, industrial units
- Plot/Land - Residential or commercial plots with clear title
Features of Loan Against Property
High Loan Amount: Get loans ranging from ₹10 Lakhs to ₹10 Crores, depending on your property value and income.
Competitive Interest Rates: LAP interest rates are lower than personal loans, starting from just 9.2% per annum.
Long Repayment Tenure: Choose a repayment period of up to 20 years, making your EMIs affordable.
Flexible End Use: Use the loan amount for any legitimate purpose - business expansion, education, wedding, medical expenses, debt consolidation, etc.
Continue Property Ownership: You retain ownership of your property while using it as collateral. The property is released once the loan is fully repaid.
Balance Transfer Facility: Transfer your existing LAP to get better interest rates and save on EMIs.
Top-Up Loan: Get additional funds on your existing LAP without additional collateral.