lown against property is the most popular type of loan as we all know. We do not know when money required, sometimes it's required on an urgent basis but if you have any kind of property like residential/commercial then you do not think so much. you can avail loan on it and you pay this money as per monthly installment.
Lower interest rate: Why people are more attractive on it because loan against property interest rate is lower than personal loan the lap interest rate provided by the landers is 12%-15% and the personal loan interest rate is 15%-25%.
Easy to get: As we know this is a secure loan so the lenders are ready to offer this loan so it takes less time to sanction.
Longer tenure: This loan generally available for long tenure as 15 years on the other hank the personal loan offer 7 years tenure it is low comparatively LAP.
Lower EMI: Landers offer low EMI on this particular loan you can select EMI as per your need without hampering your budget.
Less Document Requirement: LAP required less document like duly filled the application form, PAN card, Identity proof, Address proof, Business continuity proof, Passport-size photographs.last 6 month bank statements, form 16 for last 2 years.
High Financing Amount: The loan amount is high you can get up 65%-70% amount of your property value. it depends on the lander because all the lander has own loan value.
These are the benefits of loan against property which is offered by the landers, before availing any kind of loan you should know the benefits of it
