Loan Against Property (LAP): Eligibility Criteria: Overview

A loan against property (LAP) is a very good alternative if you need capital. Your property must have no outstanding ownership dispute associated with it and should not be mortgaged. If you can make repayments from your earnings, there is nothing to stop you from availing this loan facility.

LAP: Eligibility Criteria: Basics

This loan comparator gives you one-point access to all lenders who are willing to lend capital based on inputs such as property type, value of property etc.
Use this calculator to find out the loan you are eligible for, given the value of your property and monthly income.
  • Eligibility criteria for LAP
There are various eligibility criteria that you will need to meet to be able to get a loan against property.
  • Secure a loan with your property
Unlike other loans which are taken for specific purposes, such as home loan or auto loans-these loans can be taken for any purpose.
  • Do you need to show proof of income for Loan Against Property?
Even though you are taking a loan against your property, you need to show that you have income.
  • What is LAP?
It is basically a kind of loan against the security of one's property.   


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A maximum of 5 providers will compete to give you the best rates (May 2012)

 

 

 

 

 

 

 

 

 

 

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If you need a long term loan at reasonable rates of interest Loan against Property is the loan choice for you. You will have to provide an existing residential flat or office property as a security for the loan and the eligibility loan amount will be decided based on your income as well as the market value of the property. You can use the loan for your business, higher education needs, personal consumption needs or any other purpose except speculative purposes. Banks can also offer Loan against property as an overdraft facility where you pay interest only to the extent you utilize the loan. We have a network of providers who will compete to provide you the best deal. You can choose based on the


  • Amount of loan available
  • Interest Rates
  • Lowest EMIs
  • Regular EMI loan or Overdraft facility
  • Processing and other Fees
  • Loan tenure

Or any other parameter that is important to you

LAP: Eligibility Criteria: Opinion

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Decision-making Corner

  • LAP Comparator
  • LAP Interest Rates
  • EMI Calculator
  • Floating or Fixed Interest Rate Calculator

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