Loan Against Property
The perfect loan to help you build your future.
Get Competitive Loan Against Property Interest Rates with Jessica FinCorp
A Loan Against Property (LAP) is an excellent financial solution for people and businesses looking to leverage the value of their property. By mortgaging your residential, commercial, or industrial property as security, you can raise funds at competitive loan against property interest rates, making it a cost-effective alternative to unsecured loans.
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Features and Benefits of Loan Against Property
Unlock a world of financial flexibility with Jessicafincorp Loan Against Property. Tailored to meet both personal and business needs, our mortgage loan offers a range of features designed to provide you with the support you need, when you need it most.
Loan Against Property up to ₹10
CR
With a loan limit of up to ₹50 Lakhs, Jessicafincorp ensures that your financial needs are easily met.
Interest starting from 9.20% p.a.
Enjoy a loan against property interest rate starting from 15% per annum, making it a financially sound choice for your borrowing needs.
Tenure from 5 to 25 years
Choose an EMI plan that aligns with your financial capacity, allowing you to repay your loan comfortably.
Direct Transfer to Account
Funds are directly transferred to the borrower's bank account, ensuring quick access to the loan amount.
Quick disbursal
With a streamlined process, borrowers can expect rapid disbursal of funds, addressing urgent financial requirements efficiently.
Balance Transfer
The facility for transferring funds from other financial institutions is available on Jessicafincorp.
Get Competitive Loan Against Property Interest Rates with Jessica FinCorp
A Loan Against Property (LAP) is an excellent financial solution for people and businesses looking to leverage the value of their property. By mortgaging your residential, commercial, or industrial property as security, you can raise funds at competitive loan against property interest rates, making it a cost-effective alternative to unsecured loans.
Why Choose a Loan Against Property?
Affordable Interest Rates
Loan against property interest rates tend to be very low as compared to personal loans and credit cards so that you would save much in the form of the interest cost involved.
Huge Loan Amount
You can raise up to 60% to 80% of your market value in order to avail sufficient fund for any urgent need, including education, hospitalization, and expansion of any business.
Huge Repayment Tenor
You can manage your EMI easily since its tenor would be as large as 25 years.
As long as you own the property, you have full ownership over it, which will be used as collateral, unless there is a default in repayment, which ensures security and flexibility.
Why Jessica FinCorp?
Competitive Rates: We help you compare and secure the best loan against property interest rates from leading banks and financial institutions.
Loan Against Property Eligibility Criteria and Documentation
SELF EMPLOYED
Identity Proof
PAN Card (mandatory) and any one of the below documents
- PAN Card
- Aadhaar Card
- Valid Passport
- Voter ID Card
- Valid Driving License
Address Proof
Any one of the below documents:
- PAN Card
- Aadhaar Card
- Valid Passport
- Voter ID Card
- Valid Driving License
Proof of income
All the documents given below:
- ITR Returns or Financial Statements of last 3 years
- Informal Income Documents
Other documents
All the documents given below :
- Application form with photograph duly signed
- Processing fee cheque
- Proof of business existence
- Last 6 months bank statements
Property Documents
All the documents given below :
- Copy of Allotment letter/Seller’s Agreement
- Receipt/s of payment made to builder/ develope
FOR SALARIED
Identity Proof
Your PAN Card is mandatory, and any one of these:
- Passport
- Voter ID
- Aadhar Card
- Driving License
Address Proof
- Passport
- Voter ID
- Aadhar Card
- Electricity bill/ water bill/ telephone bill
- Driving License
Proof of Income
- Salary Slips/Bank Statement/Form 16
- Salary Certificate
Other Documents
- Signed Application Form with Picture
- Cheque For Processing Fee
- Bank Statement of Last 6 Months
Property Documents
- Title Deeds of the Property
- Proof of No Encumbrances on the property
EMI LOAN CALCULATOR
EMI Calculator Service
Our EMI Calculator Service is a user-friendly tool designed to help clients easily estimate their Equated Monthly Installments (EMIs) for loans. With this service, clients can input key loan details such as loan amount, interest rate, and tenure, and instantly calculate their monthly repayment obligations. Whether you’re planning to take out a home loan, car loan, or personal loan, our EMI Calculator Service provides quick and accurate estimates, empowering clients to make informed financial decisions with ease.
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Frequently Asked Questions (FAQs) on Loan Against Property (LAP)
A Loan Against Property (LAP) is a secured loan where the borrower pledges a residential, commercial, or industrial property as collateral to borrow funds. The lender retains the property title until the loan is repaid.
Eligibility varies among lenders, but typically, salaried professionals, self-employed individuals, and businesses owning a property are eligible. The property must be free from legal disputes and must be in the name of the borrower.
You can pledge residential, commercial, or industrial property that you own. Some lenders also allow agricultural land, but this is less common.
The loan amount depends on several factors, including the market value of the property, the borrower’s repayment capacity, and the lender’s policies. Typically, lenders provide 50%-75% of the property’s current market value.
The tenure for LAP can range from 5 to 20 years, depending on the lender’s terms and the borrower’s eligibility.
The interest rates on LAP are generally lower than personal loans, as the loan is secured against property. The rates vary between 9.20% to 14%, depending on the lender and the borrower’s profile.
Yes, you can use the loan amount for various purposes such as business expansion, funding education, medical expenses, weddings, or even to consolidate debts.
Typically, the documents required include:
- Proof of identity and address
- Proof of income (salary slips, bank statements, ITRs)
- Property documents (title deeds, ownership proof)
- Employment or business details
- Financial statements (for businesses)
The processing time varies by lender but generally takes 10 to 15 working days. It could take longer if there are issues with property valuation or documentation.
Yes, most lenders allow prepayment of LAP, but they may charge a prepayment penalty. It’s important to check with the lender for specific terms and conditions regarding prepayment.
