1. Local Makaan India

Best place to find Lap interest rate in india - Loan against property

Recommended by Professional finance expert loan against property interest rate - Private finance against property

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Localmakaan is the only site for loan against property private finance, Lap interest rate in india.

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In India, the loan application process is complicated, and the number of scams that occur on a daily basis scares people. But, LocalMakaan is here to take your stress away. On our website, you will find the best loan against property (LAP).

But, what is LAP? A loan against property (LAP) is a secured loan provided by banks, private finance companies, and non-bank financial institutions (NBFIs) against commercial or residential properties. The LAP interest rate in India is also usually lower compared to the interest rate on a business loan or home loan. Also, the loan amount sanctioned is greater than that offered by other available options.

Loan Against Property eligibility criteria and documentation requirements:

  • You must be an Indian citizen. PAN card, Aadhaar card, drivers' licence, passport, and electricity bill are all acceptable documents for identification and address proof.
  • When applying for LAP, the minimum age is 18 years old for salaried employees and 21 years old for self-employed professionals and non-professionals.
  • Loan against property without income proof is not possible, and one has to show income proof. You have to provide bank statements and ITP forms if you are salaried, and last three years' ITR, profit and loss account, and balanced sheets certified by a CA if you are self employed.
  • Office address – lease or rent, or ownership bill is required if you are financing a commercial property.
  • Latest house tax return/ receipt that is approved by the municipal corporation is required.

On LocalMakaan we have LAP loan on cheap interest rates and our professional finance experts will help you find the loan with the lowest LAP interest rate. We make sure the entire loan procedure is convenient for you by assisting you in every step.