Availing an unsecured loan can be hard for some individuals as banks and NBFCs have strict credit score requirements for that. Only individuals with a credit score above 750 are liable for such a loan, and achieving such a number becomes difficult for some.
So, many opt for a loan against property (LAP); these loans also provide lower Loan Against Property Interest Rates and long-term tenures.
Banks and NBFCs give LAP tenures that range from 2 to 20 years. They collect the necessary documents from the customer and process within 72 hours.
Further, Loan amounts of Rs.1 Crore