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 bank s 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% o...