Additionally, any charges levied and recorded with any registry on such properties should also be removed within this time frame.
The property which you hold can be a helpful tool to expand your business if used effectively
People prefer to take secured loans because the interest rate is lower and the loan amount disbursed is higher
Most banks do not lend more than 50 percent of the value of the security — especially if you are pledging equity shares or MF units as collateral
There are certain myths surrounding LAPs that we need to steer clear of. Here are some of them.
Loans: Working capital loans are a sort of small business loan used to overcome a business's daily cash flow constraint
Generally, secured loan amount can go up to Rs 3 crore and above. People pledge home, property or even gold to take this type of loan.
Banks generally approve a loan against property within 7 to 10 working days.
The application process becomes simpler if you have a savings bank account with the bank to which you have applied for LAP