MORTGAGE LOAN
A mortgage loan is a secured loan that allows you to avail funds by providing an immovable asset, such as a house or commercial property, as collateral to the lender. The lender keeps the asset until you repay the loan.
Features & Benefits
- Fund Your Business – Get Loan Against Property.
- Loan Tenure – Tenure up to 15 Years.
- Balance Transfer Available.
- Overdraft Facility – Sanction of up to 70%*, of the property value.
FAQ (Frequently Asked Questions)
The bank assesses the loan amount based on your income financial as well as the value of the property.
You can mortgage both residential and commercial p roperty for availing LAP. However, the property should be free from any charge. You also can avail LAP against Select Properties such as Schools, Nursing Homes upto 30 Beds, Warehouses etc.
Yes, you can avail up to 90% of the total LAP as an overdraft
You can avail up to 70% of the property value as LAP. However, this percentage
will depend on the property type and other che cks.
You Can avail an LAP for any business or personal use* like:
a. Business Expansion
b. Long-term working capital
c. Debt consolidation to lower the Cash outflows
d. Purchase of equipment
e. Holiday
f. Education/Marriage of children.