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A loan against property, often called LAP, is basically a type of loan where you use your residential or commercial property as collateral to borrow money from a bank or financial institution. It’s a great way to raise funds if you need a larger sum and have some property to pledge. The cool thing about it is that you can continue to use the property as you normally would while repaying the loan. The loan amount you can get usually depends on the value of the property and the lender’s policies, and the interest rate is generally lower compared to unsecured loans like personal loans. However, if you ever default on repaying the loan, the bank has the right to take over the property to recover their money. So, it’s important to be sure about your ability to repay before you take it on. This type of loan is often used for major expenses like business expansion, educational purposes, or sometimes even for personal and medical emergencies where the required amount is quite significant.
A loan against property is a type of secured loan in which you obtain money from a bank or other financial organization by pledging your home, business, or industrial property as security.
LAP is available to enterprises, self-employed people, and salaried individuals. Lenders look at things including property ownership, income, and credit score.
You can pledge:
✔️ Commercial property,
✔️ Industrial property,
✔️ Residential property (whether rented or self-occupied), and
✔️ Vacant land (based on the lender’s policy)
Usually, 60–70% of the property’s market value is what lenders are willing to lend. The type of property, the location, and the applicant’s ability to repay are some of the variables that affect the precise amount.
Depending on the lender, the applicant’s background, and the length of the loan, interest rates typically range from 8% to 15% annually.
LAP makes EMIs more reasonable by offering a repayment period of up to 15–20 years.
Indeed! Any financial requirement, including debt reduction, home improvement, education, marriage, medical costs, and business expansion, can be covered with LAP funds.
Although your eligibility may be impacted by a low CIBIL score (less than 650), certain lenders may still grant the loan with higher interest rates because it is secured.
The majority of lenders do permit foreclosure or prepayment. Charges, particularly for fixed-rate loans, might apply, though.
i) Section 37(1) of the Income Tax Act allows you to claim tax deductions on interest paid if it is used for commercial purposes.
ii) You may get advantages under Section 24(b) if it is spent for home improvement or acquisition.
Loan Against Property helps you unlock the true value of your real estate assets.
Whether it’s for business expansion, education, or personal needs, LAP empowers you to:
✅ Avail high loan amounts at competitive interest rates
✅ Use residential or commercial property as collateral
✅ Enjoy long tenures and flexible repayment options
✅ Meet large financial goals without selling your property
✅ Maintain ownership while unlocking liquidity
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