LOAN AGAINST PROPERTY

Loan Against Property with Manappuram Asset Finance Limited

Unlock the Value of Your Property with Manappuram’ s Loan Against Property

Loan Against Property

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Introduction

Manappuram Asset Finance Limited offers a flexible and convenient Loan Against Property (LAP) solution to help you meet your financial needs. Whether you require funds for business expansion, home renovation, education, medical emergencies, or any other personal needs, our LAP product is designed to provide you with the financial support you need by leveraging the value of your property.

Key Features and Benefits

High Loan Amount
Attractive Interest Rates
Flexible Repayment Options
Quick and Hassle-Free Processing
Multiple Property Types Accepted

Why Choose Manappuram?

Trust and Reliability
Expert Guidance
Transparent Processes

Eligibility Criteria

Required Documents

How to Apply

Charges

Frequently Asked Question

A Loan Against Property (LAP) is a secured loan where you can pledge your residential or commercial property as collateral to avail a loan. The loan amount can be used for various purposes such as business expansion, education, medical expenses, or any other personal needs.

Yes, the loan amount availed through a Loan Against Property can be used for various purposes, including business expansion, working capital, purchasing equipment, or any other business-related expenses.

Individuals, both salaried and self-employed, are eligible for a Loan Against Property. The eligibility criteria include:
  • Age: 21 to 60 years
  • Stable source of income
  • Clear title of the property
  • Good credit history

Manappuram Asset Finance Limited accepts both residential and commercial properties as collateral. The property should be free of any encumbrances and should have a clear title.

The loan amount is determined based on the market value of the property, the applicant's income, and repayment capacity. Typically, up to 60-70% of the property's market value can be availed as a loan.

The tenure for a Loan Against Property at Manappuram Asset Finance Limited can range from 5 to 15 years, depending on the loan amount and the applicant’s repayment capacity.

The following documents are generally required:
  • Identity proof (Aadhaar card, PAN card, passport, etc.)
  • Address proof (utility bills, rental agreement, etc.)
  • Income proof (salary slips, bank statements, income tax returns, etc.)
  • Property documents (title deed, property tax receipts, etc.)
  • Bank statement of last six months

You can apply for a Loan Against Property by visiting the nearest Manappuram Asset Finance Limited branch or through the official website. The application process involves submitting the required documents and undergoing a property evaluation and credit assessment.

The interest rates for a Loan Against Property at Manappuram Asset Finance Limited are attractive and vary based on the applicant’s profile, loan amount, and tenure. It is advisable to check the current rates or contact the nearest branch for detailed information.

The processing fees and other charges for a Loan Against Property vary and are detailed in the loan agreement. Typically, these may include processing fees, valuation charges, legal fees, and administrative charges.

Yes, Manappuram Asset Finance Limited allows prepayment of the loan. However, prepayment charges may apply as per the terms and conditions of the loan agreement. It is recommended to review the prepayment policy before proceeding.

In case of default on loan repayment, Manappuram Asset Finance Limited may take possession of the collateral property and sell it to recover the outstanding loan amount. It is crucial to adhere to the repayment schedule to avoid such situations.

Contact Us

Unlock the potential of your property with Manappuram’ s Loan Against Property and achieve your financial goals with ease. Apply now and experience the convenience and reliability of our financial solutions.

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