Term Loan

Term Loan also known as Loan Against Proper or LAP is the kind of loan which is considered as a secured loan. Being guranteed in lieu of a property being mortgaged to the lender at a certain percentage of market valuation of the property. This kind of loan comes handy in many situations which we shall mention below but before that let us tell you about against what is the Term Loan or LAP is given for.

Properties used for Mortgage:

  • Self Occupied Residential Property
  • Vacant Residential Property
  • Hospital
  • clinic
  • Hotel
  • Non Agricultural (NA) Land
  • Commercial Properties
  • Industrial Ware House
  • Industrial Land

Mortgage Loan or LAP can be used for ?

  • Business expansion
  • Matrimonial Ceremonies
  • Child's Higher Education
  • Funds for the Dream Vacation
  • Funds for costly Medical Treatments
  • Funds for Working Capital
  • Fund for purchase of new machinery and equipments

With so many options to choose from it makes it easier for the customer to have a clarity as to which property to leverage for this type of loan. Why we used the work leverage the property ? Simple you own a property with a good standing valuation, and you do not wish to bring liquidity in lieu of selling off that property. All you need to do is mortgage it and get that liquidity and still have the property to use and also own at the end of the loan.

Now These loans require a lot of documentation and that is where Loan On Click comes into the picture giving you not just door step but right at your desk kind of services all you need to do is provide the requisite documents and the rest is on us.

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