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Loan against Property

07/31/2010 02:31am - via http://tiny.cc/niftydire... - Details

NiftyDirect: LAP is one of the oldest concepts of money lending in which the borrower pledges his or her property (residential or commercial) against the loan amount. This make s it a secured loan. In India it is one of the cheapest loans after home loan...

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NiftyDirect saved this page on 07/31/2010 02:31am

LAP is one of the oldest concepts of money lending in which the borrower pledges his or her property (residential or commercial) against the loan amount. This make s it a secured loan. In India it is one of the cheapest loans after home loan due to this aspect of security which is not the case with a personal loan that is totally unsecured. This factor obviously goes in favour of LAP as also for the fact that there is always a restriction in personal loan considering that it can’t step beyond Rs 15-20 lakhs at the higher end of the scale. LAP, on the other hand, can provide for amounts as high as Rs 1 crore (depending on the value of the property) and that too at a 3-4 per cent cheaper rate that a personal loan.

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