Purpose
✅ Raise funds for business expansion, education, or major personal expenses.
✅ Consolidate debts with a single secured loan.
✅ Invest in new ventures using property as collateral.
✅ Manage large medical expenses or family emergencies.
✅ Meet working capital requirements for businesses.
Eligibility Criteria
❇️ Age: Applicant should be between 21 and 70 years.
❇️ Property Ownership: Should own a residential, commercial, or industrial property.
❇️ Income Stability: Steady income from job or business is required.
❇️ Credit Score: A good credit score increases loan approval chances.
Key Features
☑️ High Loan Value: Avail up to 60–75% of your property's market value.
☑️ Attractive Interest Rates: Lower than unsecured loans.
☑️ Flexible Repayment: Tenure up to 15 years for easy EMI planning.
☑️ Multiple Purposes: Use funds for personal or professional goals.
☑️ Balance Transfer: Option to transfer existing LAP for better terms.
Documents Required
❇ ID Proof: Aadhaar card, PAN card, Passport, etc.
❇️ Address Proof: Utility bill, voter ID, rent agreement.
❇️ Income Proof: Salary slips, ITR, Form 16 (for salaried); financial statements (for self-employed).
❇️ Property Documents: Title deed, chain of ownership, and approval plan.
❇️ Bank Statements: Last 6 months for all operational accounts.
Fees & Charges
☑️ Processing Fee: Charged for application evaluation.
☑️ Valuation Charges: For property assessment.
☑️ Legal Charges: For document verification and title check.
☑️ Prepayment Charges: May apply on early foreclosure.
☑️ Late Payment Fee: Imposed for missed or delayed EMIs.
