If you own a commercial, residential, or special-use property, you can leverage it as collateral to secure a Loan Against Property (LAP). This loan option is available to both individuals and businesses that own property.
A Loan Against Property can be utilized for various purposes, such as business expansion, working capital needs, machinery purchases, miscellaneous business expenses, debt consolidation, or medical emergencies. By mortgaging your property, you can easily access the necessary funds.
LAPs are a powerful tool to help you achieve your financial goals, whether for business or personal needs. Instead of selling your property, you can use it as collateral to obtain the loan amount you require. This method offers several advantages, including a substantial loan amount, lower interest rates, and flexible repayment terms, making it an efficient way to raise funds.
At Saste Loans, Working Capital Secured & Unsecured Finance Solutions, we are dedicated to guiding you in selecting the best lender to meet your financial needs at the most competitive rates. Our expert team will assist you with the documentation and application processes required by lending institutions.
Whether you are a salaried employee or a self-employed professional with commercial, residential, or special-purpose property registered in your name, you can benefit from our flexible loan options, including EMIs and Dropline Overdrafts, with loan terms of up to 15 years.
We guide you to avail a high loan amount based on the value of the property offered as collateral, as per your requirement, at the best available interest rates.
A Loan against Property offers a longer loan tenure, typically ranging from 5 to 15 years. This allows for lower EMIs without requiring any equity exchange.
Saste Loans, Working Capital Secured & Unsecured Finance Solutions, facilitates the seamless transfer of your existing Mortgage Loan and any Loan Against Property from other financiers through our Loan Against Property Balance Transfer service.
At Saste Loans, Working Capital Secured & Unsecured Finance Solutions, you can benefit getting an expert advice for availing competitive Loan against Property (LAP), featuring industry-leading interest rates.
At Saste Loans, Working Capital Secured & Unsecured Finance Solutions, Our experts facilitate mortgage services for a variety of property types, including residential, commercial, industrial, and warehouse properties.
Income Documents
These can vary between different institutions.
KYC Documents
Copies of PAN, Aadhar, and address proofs.
Property Documents
Chain agreements, sale and share certificates.
- Property Value : This refers to the market value of the property proposed as collateral, assessed by the financial institution for loan calculation purposes.
- Income Documents : These are required to verify the applicant’s ability to pay EMIs.
Other important parameters considered by financial institutions include:
a) Age of the applicant and co-applicants at the loan maturity date.
b) Overall financial stability of the business or individual.
c) Business vintage and segment in case of businesses.
- CIBIL Score : This score/report is crucial for evaluating the applicant’s and co-applicant’s previous loan history and repayment track record.
A loan secured by an eligible immovable asset (property), which can be utilized for personal or business purposes.
Any residential, commercial, industrial or in some cases special use properties can be considered.
The loan to Value (LTV) differs against property types and their occupancy status. The maximum possible LTV is offered against self-occupied residential properties. The maximum possible LTV I any case will not exceed 70% of the market value of the said property.
Yes, co-applicant can be added to the loan structure at the time of applying and their income can be clubbed together for the .purpose of loan calculations.
Processing fee for loan against any property varies from bank to bank and is generally around 1 percent plus taxes.
Interest is calculated on daily reducing balance. Your monthly out-go (equated monthly installment – EMI) is much lower as compared to the interest on annual reducing balance.
Loans against property have a maximum tenure of 15 years subject to fulfillment of all the lending conditions of the respective lenders.
You repay the loan in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take full disbursement.