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Loan against property

Loan Against Property- How It Scores Over Personal Loan?


Are you reluctant to pay high-interest rate? Require cash? Do you own a house? Then apply for Loan Against Property (LAP).

When we think about Loan Against Property our mind gets saturated by questions and thoughts.

Question that frequently occur is “Why to go for LAP, when we have option of Personal Loan”?.

As the name sounds, LAP is the Loan that is taken against own property. That property could be your own house or a residential rented one or it could be even a plot/site. But, here what is necessary is to keep in mind that different banks have different Loan Against Property eligibility criteria. More or less all bank’s terms and conditions are same. But, to be on the safer side I personally recommend you to go on each bank’s site and check the terms and conditions section first.

Doesn’t it sound little complicated and time consuming? We all are living in a digital age and expect things to be fast and simple. So, we do have good news for loan takers. With you can easily apply for your Loan Against Property and also check eligibility for Loan Against Property. We have tied up with 26+ banks and list is continuously increasing with many banks coming forward to get their names added with us. So, you can even compare the loan against property interest rates offered by these banks. All end to end needs and requirements of the customers are taken care by Hence, you have to simply login to the site and fill the application. Leave the rest of the procedure on us and we would take it forward from there.

Advantages of the Loan Against Property:

  • These Loans can be carried up to 15 years.

  • Huge Loan amount are disbursed depending on the value of your property.

  • Lower interest rate.

  • The loan can be taken against your own house or self –occupied rented property.

Now, we will look at the Personal Loan drawbacks and why it is advisable to go for LAP.

  • Has high-interest rate (up to 20% in some cases). However, it varies with banks. You can check with the various bank interest rates on

  • Has a shorter time period (1-5 years).

  • Has a higher processing fee. Here again I would like to mention processing fee depends on the banks.

How the Loan Against Property is different from Home Loan:

Home Loan and the Loan Against Property are entirely different from one another. Now, we can take Loan Against Property for various reasons like to start our own business, Marriage of a son/daughter, to buy an another property, to repay a debt etc. The Loan against property can even be taken on an industrial property. It can be taken to serve various purposes. On the other hand, Home Loan should be taken only to buy a residential property.

Interest Rates of Loan Against Property:

Interest rates of various banks keep varying. It is entirely decided by the bank on which interest rate the Loan should be disbursed. Depending on your property value you will get a Lump-sum amount.

*P.s These interest rate charges are floating. Hence before applying for loan kindly visit for reference on the Interest Rates.

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