Loan Against Property (LAP) in India – Low Interest & Fast Approval

Owning a property can open doors to affordable funding options. Instead of selling your asset, you can unlock its value through a Loan Against Property (LAP) and meet major financial needs comfortably. At Loan Sarthak, we simplify the process by connecting you with trusted banks and NBFCs offering competitive rates.

Moreover, LAP is ideal for borrowers who need a higher loan amount at a lower interest rate. As a result, it has become a preferred choice for business owners, professionals, and salaried individuals alike.

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What Is a Loan Against Property?

A Loan Against Property is a secured loan where your residential or commercial property is pledged as collateral. Because the loan is secured, lenders offer better interest rates compared to unsecured options.

In addition, the repayment tenure is longer, which helps reduce monthly EMI pressure. Therefore, LAP becomes a practical solution for long-term financial planning.

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Benefits of Loan Against Property

Firstly, borrowers can access up to 60–70% of the property’s market value.
Secondly, interest rates are significantly lower than personal loans.
Furthermore, repayment tenure can extend up to 15–20 years.
Most importantly, funds can be used for business expansion, education, medical needs, or debt consolidation.

Because of these advantages, LAP offers both flexibility and affordability.

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Types of Loan Against Property Available

Depending on your requirement, lenders offer multiple LAP options.
For instance, Residential LAP is suitable for homeowners.
Similarly, Commercial LAP works well for shop or office owners.
Additionally, Business Loan Against Property helps meet working capital needs.

Hence, selecting the right LAP type ensures better approval chances.

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Eligibility Criteria for LAP

Although criteria vary by lender, some conditions remain common.

Salaried Applicants

• Age between 21 and 60 years
• Stable income with job continuity
• Minimum CIBIL score of 650+

Self-Employed / Business Owners

• Age between 21 and 70 years
• At least 3 years of business stability
• Valid income proof through ITR
• Clear property ownership documents

Meeting these requirements improves both eligibility and interest rates.

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Documents Required for Loan Against Property

To ensure faster processing, lenders generally ask for:

• Identity and address proof
• Income documents (salary slips or ITR)
• Bank statements
• Property papers and title deed

Therefore, keeping documents ready avoids unnecessary delays.

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LAP Interest Rates

Currently, Loan Against Property interest rates start from around 8.5% per annum.
However, the final rate depends on factors such as credit score, property type, and income profile.

As a result, comparing lenders before applying becomes extremely important.

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Why Choose Loan Sarthak for LAP?

Unlike direct bank visits, Loan Sarthak offers end-to-end assistance.
Moreover, you can compare offers from multiple lenders in one place.
Additionally, our experts help you choose the most suitable option.
Consequently, you save both time and money.

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How to Apply for Loan Against Property Online?

Applying with Loan Sarthak is simple and transparent.
First, submit the online application form.
Next, check eligibility and compare offers.
Then, upload documents digitally.
Finally, get approval and disbursement.

Thus, the entire process becomes smooth and stress-free.

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Final Thoughts

In conclusion, a Loan Against Property allows you to raise funds without losing ownership of your asset.
If planned wisely, it can support both personal and professional growth.
Therefore, applying through Loan Sarthak ensures better rates and faster approval.

👉 Apply now and get expert assistance today.

Frequently Asked Questions (FAQs) – Loan Against Property

Q1. What is a Loan Against Property (LAP)?

A Loan Against Property is a secured loan where you mortgage your residential or commercial property to raise funds. Because the loan is backed by property, lenders offer lower interest rates and longer repayment tenures compared to unsecured loans.

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Q2. Who can apply for a Loan Against Property?

Both salaried individuals and self-employed professionals can apply. Moreover, business owners and freelancers are also eligible, provided they meet income, age, and credit score criteria.

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Q3. How much loan amount can I get against my property?

Generally, lenders offer 60% to 70% of the property’s market value. However, the final amount depends on factors such as property location, income profile, and credit score.

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Q4. What is the interest rate for Loan Against Property?

Currently, LAP interest rates usually start from around 8.5% per annum. Nevertheless, borrowers with a strong CIBIL score and stable income often get better rates.

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Q5. What can I use a Loan Against Property for?

One of the biggest advantages of LAP is flexibility. Therefore, the loan amount can be used for business expansion, working capital, education, medical expenses, wedding costs, or debt consolidation.

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Q6. What is the maximum tenure for LAP?

Typically, the repayment tenure ranges from 10 to 20 years. As a result, EMIs remain affordable even for higher loan amounts.

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Q7. Is a CIBIL score mandatory for LAP approval?

Yes, a minimum CIBIL score of 650+ is usually required. However, a higher score improves approval chances and helps secure lower interest rates.

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Q8. Can I apply for LAP if my property is already mortgaged?

In some cases, yes. You may opt for a balance transfer or takeover loan, subject to lender policies. Hence, checking eligibility beforehand is important.

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Q9. How long does LAP approval take?

With proper documentation, approval can be done within 5–7 working days. In fact, applying through Loan Sarthak often speeds up the process.

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Q10. Why should I apply for Loan Against Property through Loan Sarthak?

Because Loan Sarthak compares multiple banks and NBFCs, you get the best possible offer. Additionally, we provide expert guidance, transparent charges, and end-to-end support until disbursement.