Apply for Loan Against Property
Big & Build Bigger with NKB Kredit Solution: Unleash Your Property’s Potential with LAP (Loan Against Property)
Loan Against Property
Loan against Property (LAP), mortgage loan, is advanced against mortgage of a property, which is kept secure with the bank/loan institutions until the borrowed loan is recovered. This property can be of numerous types – residential, commercial or industrial. One unique aspect here is that you are able to avail higher loan amount in property loan at a lower rate of interest beginning from 7% per Anuman’s /loan institutions typically approve mortgage loans comfortably between 50% and 70% of the market value of the property, which you can easily return in EMIs within a span of approximately 20 years. Similar to an unsecured personal loan, this Loan against Property can also be availed to fulfil personal and business requirements except for risky ventures. If you wish to know how to get loan against property, how to avail loan by mortgaging property or want to learn about property loan, then this blog is meant for you.
Advantage of LAP (Loan Against Property)
Flexible End Use
Similar to personal loan, loan against property can be utilized to fund personal and business requirements apart from risky pursuits
Lower rates of interest
The interest rates charged on secured loans are less than those on unsecured loans. This reduces the cost of loan against property and makes it a more attractive alternative compared to personal loan
Balance Transfer Facility
Mortgage loans also provide a balance transfer facility, where you can shift your current mortgage loan to some other bank/loan company at a lesser interest rate or improved loan terms.
Increased loan amount
It is secured loan since it is advanced against property and therefore you can easily avail larger loan amount
Simple tenure
Loan against property tenure is typically up to 20 years, providing you with low EMIs and simple repayment.
Eligibility For Loan Against Property
To be qualified for a Loan against Property, you need to have the collateral property in India. Your age should be 25 to 65 years and you should have a regular income from employment or a business with a minimum of Rs 25,000 per month. After fulfilling all these conditions then you can easily apply for loan against property. In this case, the lenders will verify all these things of yours and if you meet all these things then you will be qualified to obtain the loan against property.
Documents required for Loan Against Property
At the time of applying for the mortgage loan, the bank/loans institution will request you to provide some documents in order to evaluate your paying capacity and all the details which you have submitted are accurate. These documents can differ from bank to bank/loan institution. The documents can differ based on the loan scheme you have applied for, resident type you are and employment type you have. But the documents needed to apply for Loan Against Property are – Application form filled in proper order, Passport size photo, Your identification proof (Passport copy/Voter ID card/Driving license/PAN card), Age Proof of residence (PAN Card/Passport/Any other Statutory certificate) and Proof of address (Ration Card, Telephone Bill, Electricity Bill, Rental Agreement, Passport Copy, Bank Passbook or Statement, Driving License, Authority), Bank Statement (Last 6 Months Bank Statement/Bank Passbook) or Last 6 Months, etc.
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Our Process
In India, availing a loan against property begins with realizing your long-term dream and monetary requirements. We then use our experience to analyze potential threats and opportunities, introducing you to the finest lenders and investors for a hassle-free and successful experience in property loan.
In India, release more funding potential for your business by tapping into your property. We focus on tapping into non-collateral sources such as MSME schemes depending on your business credentials and your unique selling proposition. If necessary, we then expertly bring in nationalized banks, private banks, NBFCs, and other institutions to your doorsteps for secured or unsecured loans, or even equity participation, so that you get the best funding option.
Experience full property loan assistance in India! We not just assist you in obtaining the funding required, but also see you through the important after-loan period. Our specialists walk you through due reporting and prepare you for any institutional audits, so that you may breathe easy.
Testimonials
Hear what our satisfied clients have to say about their experiences with us.
Pawan Badsiwal | Proprietor @ Satvik Polymers
Mr. Bansal is highly supportive to understand a business & its needs. I have approached him twice during last two years & thanks to his execution capabilities & assessment he advised me pin-pointedly to plan the expansions & after that dotted execution has made me confident to move ahead my business expansion. I highly recommend an SME business to consult Mr. Bansal for his impartial advice on funding. I can vouch for his transparent, straight & honest advice which will help in focused working.
Vinay Modi | Proprietor@ Modi Scooter House
We have approached with susceptible thoughts about fund raising because our quantum of funds was high & unable to offer security for it but when Mr. Bansal assure us about fund raising, we first doubted on his statements but thanks to his execution skills we achieved the desired funding in record timeframe.
Paramjit Singh |Director@ Ohsan Form Tech (P) Ltd
Presentation of good feature of a business & hard bargain on the cost is his one of the best skill to assess. May God bless him more to understand & deliver good work.
Vishal Marwah | Co-Founder@Indelog Solutions (P) Ltd
We came across Mr.Naresh Bansal in the year 2017 and have been availing his services till date in raising business funding through multiple NBFCs/MNC banking institutions and have been extremely satisfied by his approach towards achieving the objectives detailed to him. He bears a good moral character and is highly motivated and focused in his approach.
A mild mannered gentleman who has a heart of a tiger within.
Wish him all the very best ALWAYS