All About Get The Cheapest Loan Against Property
As the name implies – Loan Against Property (LAP) is the loan taken on behalf of property or loan disbursed against property. Both residential and commercial property can be provided as collateral to the lender. It is basically cheaper than a personal loan and has longer tenure with low EMI. It is the best way to raise funds in case of financial emergency.
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Cheapest Loan Against Property can be taken –
- To Expand business.
- To Fund medical treatments.
- For Marriage or other family functions.
- For Children’s further studies.
- For dream vacation.
Why Loan against Property?
- It comes with lower interest rate than other loans like personal or business loans.
- Residential and commercial properties are accepted for loan approvals.
- Easy repayment alternatives offered.
- Loan against Properties are offered with longer tenures.
- Doorstep Services
Cheapest Loan Against Property Procedure-
- A borrower needs to submit an application form.
- Afterwards the Bank will do the Field Investigation in terms of the property value.
- After that the bank will check the credit Record If it’s good or bad.
- If the credit Score is good then Legal, Financial and Technical Valuation is done.
- After that property documents are registered.
- After that agreements are signed and loan is finally disbursed.
*The whole process seems complex, but we will make it simple for you.