Need emergency money? Use loan against property to fund planned expenses

Beware that if you are unable to repay, you could lose your home
  • You can get a loan of up to 65 per cent of the value of your property, for a maximum tenure of 15 years. 
  • Both self-employed and salaried employees can avail of it. There should be no existing loan against the property. 
  • You can take the full loan amount as a lump sum and repay it as an EMI, or take it as an overdraft account.
  • LAP is a secured loan. Its interest rate is lower than on a secured loan, such as a personal loan.
  • Take LAP to fund significant planned expenses, like sending the child to study abroad or a wedding. 
  • Do not take it for risky endeavours like starting a business.

 


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