A loan against property(LAP) is exactly what the name implies --a loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property market value. Loan against property belongs to the secured loan category where the borrower given a guarantee by using his property as security.

• Eligibility: All SME Units run by individual, Proprietary concerns, Registered Partnership Firms, Private Limited Companies.

• Purpose: For expansion/development of existing business.

• Rate of Interest: 13.50%

• Repayment: Working capital 1 year renewal review every year capital Expenditure Debt medium or long term

• Security: Registered Mortgage of NA Constructed immovable property, 2 Guarantors.

• Processing Fees: 25000 to 1 lakh-1500, 1 lakh to 5 lakh- 2000.

• Share Holding: 2.50% of the loan amount.

• Document: Identity, Address proof, income papers of Borrower and both Guarantors, Project report of Business & concerned documents like property extract, search report, valuation etc.

• Guarantor: Two Guarantor

• Insurance: Insurance of property charged to the bank.

• Other: other term and conditions are also applicable.