Loan Against Property (LAP Facility)

A Loan against property (LAP) can be obtained against collateral. It resolves various financial hurdles that businesses commonly encounter in daily situations. LAP is a long-term loan. So, the security here is the equitable mortgage of the immovable property. Therefore, the features make this type of loan the most secure for lending institutions. Consequently, in normal circumstances, borrowers can apply for a loan against property more easily than for other types of loans.

The property is mortgaged for various financial purposes. So, the borrower avails a loan under the property’s current market value.

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Key Features of Loan Against Property

Types of LAP Facility

1. Loan against commercial and residential properties

Based on the current market value, borrowers can mortgage their residential or commercial properties to obtain the amount of loan, to support any type of financial requirement.

2. LAP for Self-employed individuals

Self-employed individuals can obtain a loan against property, they can avail of a higher amount than regularly employed individuals, the specific amount varies from firm to firm. Thus, it is required to meet the property eligibility criteria.

Advantages of Loan Against Property

The beneficial features of a loan against property are basic and can be realized by the borrowers before they apply. This loan is the most suitable because the property is a strong form of collateral security.

Loan Against Property helps to build capital expenditure
The Long-Term tenure is available in the LAP Facility
Convenient repayment options
Minimizes risk for the bankers and minimizes your interest rate
Helps to build a capital-intensive business
Suit for multiple debt instruments – Working Capital, Cash Credit, Overdraft, Term Loan

Loan Against Property Eligibility Criteria

Age eligibility criteria: 18 to 70 years or 25 to 65 years old
Minimum work experience requirement for salaried individuals: 3 years and above
Business stability requirement: Last 5 years of stability
Good CIBIL score for a hassle-free loan process
Eligible properties for a mortgage: Personal, residential, commercial, and rented properties

How do we execute the LAP proposal?

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Documents to Apply for Loan Against Property

Salary slips of the past few months in the case of employed individuals.
Bank statements of the past 3 months or depending on the conditions laid by the lending institution.
PAN card/Aadhaar card, or any appropriate identity proof.
Address proof.
Copies of documents of the property on which the loan is being taken.
Income Tax Returns.

Loan Against Property at Terkar Capital

At Terkar Capital, we understand that financial hurdles can arise for individuals and businesses alike. However, the features of the Loan Against Property facility provide a long-term loan option secured by an equitable mortgage of immovable property. This type of loan is easily accessible and offers several benefits, including flexible loan tenure, low interest rates, and a hassle-free application process. The loan amount is determined based on the current market value of the property.

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Loan Against Property for Industries

We Facilitate the Following Funding Instruments

FAQs on Loan Against Property

Yes, you can easily avail a loan against commercial property by mortgaging your office, shop, or other commercial assets, subject to eligibility and valuation.

The interest rates for a loan against commercial property typically range between 8% to 12%, depending on factors such as property value, rental income, borrower profile, and financial stability. Lower risk profiles and high-value commercial properties may attract more competitive rates.

Client Testimonial

I got an unsecured business loan within 7 working days .their specialized experts verfied all the documents and granted me the loan .getting a business loan from terkar capital is the easiest way to get a loan

mohit dwivedi

I run a startup company and I required an Unsecured Business Loan and Project Loan for the same. Terkar Capital consulted me and gave me the right advice about Business Loans.

Jeneel Chhedda

A professional team who are expert in their work and guided me and processed my unsecured business loan in just 7 working days. Thank you Terkar Capital.