Loan Against Property
What is LAP - Full Form, Meaning & Benefits
Sep 16, 2024 | 4 mins read
LAP Balance Transfer
Take control of your finances with a Loan Against Property Balance Transfer, at rates starting at 9.55%* p.a. Transfer existing LAP for up to ₹ 7 Crore* and enjoy reduced EMIs with tenures of up to 20 years. You can also avail a top up beyond your original loan amount for extra funds. Our easy, hassle-free process offers a smart solution to lower your EMI burden and meet your financial commitments with greater flexibility.
EMI Calculator
Results generated by the calculator(s) are indicative in nature.
Preferred loan amount
₹
₹30,00,000
₹7,00,00,000
Interest rate (per annum)
%
9.55%
13%
Loan tenure (months)
36 months
240 months
Estimated EMI
per month- ₹ 36,690
Interest payable
₹52,41, 690
Eligibility & Documents
Eligibility
Residency:
Indian resident or NRI
Age:
Salaried: 23 years to 70 years
Self-employed: 25 years to 70 years
Profession:
Salaried / self-employed professionals and non-professionals
Other:
Can be increased by adding co-applicant income or other verifiable income sources
Documents
Age Proof
Aadhaar Card | PAN Card | Passport
Address Proof
Utility bills (not older than 2 months) | Aadhaar Card | Driving License | Passport | Voter ID etc
Photo ID Proof
PAN and any one of the following- Aadhaar Card| Driving License | Passport | Voter ID | Job card by NREGA | Letter issued by the National Population Register containing details of name and address
Others
Eligibility can be increased by adding co-applicant income or other verifiable income sources
List of Additional documents related to your existing loan
Forclosure letter | List of documents submitted to the bank | Statement of account
Income Proof
Income proofs vary for different professionals across salaried, non-salaried and self-employed. List of required income documents
Additional documents can be asked*
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The process of applying L&T Finance Housing loans was a very easy and seamless process. And the credit goes to L&T Finance's entire Housing loan team. They have been extremely helpful & quick response. A very transparent process, the best of the market rates and quick disbursement.
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