A loan against property can meet large funding needs effectively. Find out how to get one. Know More.

1. Secure a Loan Against Property (LAP) Easily

2. What is LAP?
• Loan secured against a residential or commercial property.
• Less risky for lenders than unsecured loans, as property can be
sold in case of default.
• LAP gets easily approved and the amount is large.
• Both salaried and self-employed individuals can apply.

3. LAP Eligibility
If you are salaried, you should be:
• Between 24 and 60 years of age.
• Employed with a reputed company, like MNC.
• Indian resident.
If you are self-employed, you should:
• Be between 24 and 60 years of age.
• Have steady income flow for 6 months to a year, till loan
application.
• Be Indian resident or own property in India.

4. Tips to Secure LAP Easily
• Interest Rate - Research and compare lenders to land attractive
interest rate and maintain a good credit score for negotiation.
• Tenure – Choose long tenure for affordable EMIs and short
ones for quick repayment.
• Loan amount – Compare loan to value ratios of different
lenders to get maximum loan amount, but only what you can
repay.

5. More Tips to Secure LAP Smoothly
• Property condition – Ensure your property is in good shape and
the paperwork is in place.
• Loan agreement – Check for adverse clauses, hidden costs, and
penalties. Find out what happens if you miss payments or
default.
• Processing and disbursal time – Make sure you get the loan
amount by the time you need it.

6. LAP Documents for Self-Employed
Borrowers
• Proof of income - Documents showing the business to be 5
years old at least, ITR, account statements, tax audit report.
• Proof of identity – Aadhaar Card, driving license, Government
employee ID, Voter ID, PAN Card, Passport.
• Birth date proof: Driving License, SSC mark sheet, birth
certificate, Aadhaar Card.
• Proof of address: Telephone bill, gas bill, property tax receipt,
voter ID, electricity bill.

7. LAP Documents For Salaried Borrowers
• Proof of income – Form 16, pay slips, account statements.
• Proof of identity/address/signature/date of birth: Same as self-
employed.

8. Why Apply For LAP Today?
• Meet major expenses without liquidating investments.
• Get the loan easily by pledging an idle property.
• Repay comfortably over a long time.

9. Thank You !
Would Love to Hear From You
Hero FinCorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel. 18001024145
Email Id: Corporate.Care@HeroFinCorp.com
Website: https://www.herofincorp.com/
Know more- Securing a Loan Against Property Made Easy