How to apply for Loan Against Property
Advantages of Loan Against Property
- Lower interest rates as its secured loan.
- The loan amount can be used for Business Working Capital.
- Greater Credit Eligibility.
Minimum Requirements for Loan against property
₹ 35 Lakhs
TIME IN BUSINESS
Documents required for Loan Against Property or Mortgage Loan
PROCESSING FEE CHEQUE
COPY OF PROPERTY DOCUMENTS
LAST 3 YEARS BALANCE SHEET
LATEST OD/CC SANCTION LETTER
INCOME TAX RETURN OF LAST 3 YEARS
PROOF OF BUSINESS
PROFIT & LOSS STATEMENT
Frequently asked questions
- LAP EMI is a defined amount you will pay for repayment of your loan monthly till the loan is completely paid.
- However, the EMI amounts stays the same, every month the part of interest keeps coming down and principal keeps on increasing, except when interest rate increases.
- LAP tenure in India ranges from 5 years to maximum of 18 years. Longer the tenure, lower the EMI.
- The easiest way of paying a mortgage loan EMI is by the way of ECS in favour of the bank. It is not necessary to have a bank account in the same bank from whom you have availed the loan.
- Other instruments can include post-dated cheques (PDCs) and by demand drafts, although, these are rarely used nowadays.
- Your income, savings, debt obligations are considered.
- Cost/value of the property against which you want loan are considered.
- Your track record for other loans, credit cards repayments are considered.
As featured in
What the press is saying about us
What our clients are saying?
1000+ Happy customers trust LegalRaasta Services
Best customer service!!
I had to just fill 1-one at LegalRaasta. They automatically searched across 50+ partner banks and NBFCs and gave the best deal to me. They saved me a lot of effort and cost.
COO, CaterWow Pvt. Ltd
Great Service & Speed!!
I had taken loan for the first time online. Instant assistance and patience from team LegalRaasta helped me apply and get loan easily. Will definitely recommend LegalRaasta.
Founder, Shiksha Learning Academy
Lean and Simple Process!!
I am very satisfied with the services and business relation with LegalRaasta. It was easy and simple to get any information regarding loan from them.