Loan against Property is one of the variants of the Personal loans and are secured loans offered by banks and financial institutions using one or more properties owned by you as collateral. Loan against Property is also known as mortgage loan. One can avail these mortgage loans for commercial property or residential property collateral.
ELIGIBILITY & DOCUMENTATION
- Available for Business Entities & Self Employed Professionals
- Applicant Age: Min. 25 years
- Business Vintage: Min. 03 years
- KYC
- Income Proofs (ITR, Financial Statements, Projections, etc.)
- Company Constitution Proofs & Registration Certificates (Business Entities only)
- Property Papers
SDAL ADVANTAGE
Ideal for professional and/ or business purposes, such as:
- Business Expansion
- Plant/ Machinery Acquisition
- Project Financing, etc.
- Debt Consolidation: LAP can help consolidate multiple smaller high prices loans (secured or unsecured) into a single lower priced loan, with a long tenure and higher overall loan amount
- Lease Rental Discounting
- Purchase of new commercial property