You can choose between two options when taking a loan against property: Take the full loan amount as a lump sum and repay it in EMIs or go for overdraft
If you are planning to take a loan against property
(LAP), going for the overdraft option can help you reduce borrowing cost. The other option when taking LAP is to take the full loan amount as lump sum and repay it in EMIs.
LAP is a loan which you avail of by keeping your commercial/residential property as collateral. Banks offer fixed as well as floating interest-rate options.
Here's a snapshot of rates offered by various banks for loan against securities: