Loan Against Property- 17 Banks Offering LAP Loan Under 10%

 If you are looking for a loan on your residential property loan or commercial property loan, here is a list of 17 major government and private banks that are currently offering these loans starting at less than 10% per annum for loans of up to Rs 15 lakh.

Loan Against Property (LAP) are financing facilities that could be of great help in meeting large fund needs like home renovations, hospital expenses, child marriage, or higher education, purchasing plots, among others. These secured loan products are generally available at lower interest rates than personal loans.

Most government and private banks and even many NBFCs offer loans against residential or commercial properties (even land and industrial land in some cases) for terms of up to 20 years, subject to applicable terms and conditions. of the lender.

While many banks lend up to 65% of the current market value of the mortgaged property, some lenders might offer a higher loan-to-value ratio of up to 80% or 90% of the property's value, subject to upper limits (like Rs 3 crore or Rs 7 crore) depending on the terms and conditions of the lender. Note that the associated terms and conditions may differ depending on whether the mortgaged property is residential or commercial. Additionally, if your property is too old or run down, or the property is disputed, you may not be eligible for a home loan, according to SaarebankFinally, although a home loan is a securitized loan, your lender would consider your income and credit score among other eligibility criteria when processing your application and offer you the highest interest rate. low or best repayment terms only if your score is over 750. -800. Most lenders also charge a processing fee of up to 1% of the loan amount plus taxes. Although many lenders do not charge partial prepayments of home loans for individual borrowers who took out the loan for non-business purposes, it is best to read the fine print of your pre-selected loan product for complete clarity beforehand. to finalize your decision.

So, if you are looking for a loan on your residential property, here is a list of 17 major government and private banks via www.saarebank.in They are currently offering these loans starting at less than 10% per annum for loans of up to Rs 50 crore. We have also provided indicative IMEs for a loan of Rs 15 lakh and a term of 10 years for all the banks mentioned in the list below.

Note that processing fees or any other fees have not been taken into account for the calculation of the EMIThe applicable interest rate and EMI amount could be different depending on the lender you have chosen, the category of your property, and the current market value, loan amount, LTV, length of occupancy, or any other condition of your lender.

17 banks offering loan against property starting at less than 10% pa (for loans up to Rs 15 lakh)

Data compiled by www.saarebank.in, an online marketplace for loans, credit cards, and more.


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