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Loan against Property (LAP)-for Individuals
|Purpose||:||Loan against Mortgage of Residential House / Flat.
i) Children´s Education / Marriage
ii) Children´s Education / Marriage
iii) Purchase of another Property.
iv) Business Expansion.
|Loan Amount||:||Min Rs.2,00,000/-|
|Loan Term||:||Maximum 15 years|
|Disbursement Of Loan||:||Equated Monthly Installments (EMI) - Monthly Rest Basis.|
|Security||:||1. Equitable / Registered Mortgage of Residential Property - Age of property not more than 35 years.
2. Demand Promissory Note.
|Upfront Fees||:||1.00% of Loan Amount + Service Tax, as applicable.|
|This scheme is applicable to Resident Indians only.|