| Bank/ NBFCs | Interest Rate | |
|---|---|---|
|
10.00%-10.70% p.a. | |
|
9.00% – 11.90% p.a. | |
|
9.75% – 10.90% p.a. | |
|
10.15% – 12.50%p.a. | |
|
9.10%-12.25% p.a. | |
|
14%-16.25% p.a. | |
|
10.30- 12.35% p.a. | |
|
10.70%-11.85% p.a. | |
|
9.15%-18.00% p.a. |
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₹
₹
| Year | Principal(A) | Interest(B) | TOTAL PAYMENT(A + B) | BALANCE |
|---|
One can use a loan against residential or commercial property for both personal and business purposes like for your wedding, education, the child’s higher education, home, medical emergencies, etc.
The lending bank looks at your repayment capacity. For calculating the loan amount, the lending bank will check your income, assets, liabilities, education & age, several dependents, spouse’s income, stability and continuity of occupation, and savings history.
The processing fees for the loan against property is around 1 percent and it varies from one bank to another bank.
The LAP can be availed by salaried, self-employed individuals, and companies for personal and professional needs. The age must lie between (18 to 65 years) and they must legally own a property.
Here are some of the advantages of LAP:
One can avail LAP against residential and commercial property which is legally approved by banks or government bodies.
The EMIs will be due each month on a fixed date. You will get a notification on your registered number.
No, the processing fees charged by any bank is not refundable as some expenses are incurred during the processing of the loan amount.
Yes, one can prepay the loan amount within the given tenure by paying the full amount or in parts.
You can visit the bank and contact the lending person and he will guide you from filling the application form to availing of the loan amount.
Online: You can visit the bank’s website and fill the application form and get instant approval.
Virtual Assistant: The Virtual assistant is available round the clock and will assist you in getting the loan.
Phone: Feel free to call the customer care executive during working hours and avail of the loan or ask any questions to clarify your doubts.
