You can start the process of applying for a Loan Against Property (LAP) in any of the following ways:

• Compare offers from different banks.
• Check your eligibility basis the income and current loans being serviced.
• Apply online with multiple banks, to assess the best & competitive loan offers.

From the day an application is being given, banks usually take about 4 – 5 working days to disburse the loan. This is subject to complete information & documentation given at the time of the application.

A Loan Against Property (LAP) has many advantages over a Top-up Loan. They include:

• A Higher Loan Amount: Typically, an LAP may offer a higher loan amount than a Top-up Loan..
• Avail of Different Property: While an LAP can be availed of against a different residential or commercial property than the one for which the loan was originally taken, a Top-up Loan may only be taken against the property already in question. This flexibility allows you to both avail of a higher loan amount and spread your liability.
• Longer tenure: An LAP can be availed for a long term than a Top-up Loan.

Loan Against Property can be availed for a self-occupied residence or a commercial property.