Loan Against Property (LAP) in Vadodara
And keep using your property.
Need money for your business or a big family cost? You can take a loan against a house, shop or office that you own, and keep using it. We prepare the ownership papers and follow your file.
- We do not lend. The bank decides
- We check your papers before the bank does
- We follow up until the bank answers
What is a loan against property?
In a loan against property (LAP), the bank gives you a loan and keeps the papers of your house, shop or office as security. You keep living in it or using it. You repay in monthly EMIs, and the bank returns the papers when the loan is fully paid.
People use LAP for business needs, children's studies, a wedding or medical costs. The interest is usually lower than a personal loan and higher than a home loan. Each bank decides the rate and the amount.
Take only the amount you can repay. If you stop paying EMIs for a long time, the bank can take action on the property.
How Jensi Finloan helps
- Check which of your properties a bank is likely to accept
- Check the ownership papers early
- Compare banks on interest rate, fees and the amount they offer
- Prepare your income papers and bank statements
- Arrange the valuation and legal check with the bank
- Explain the sanction letter before you accept it
Papers you need
This is a general list. Your bank or insurance company will confirm the exact papers.
The property
- Ownership papers (title documents) and earlier papers in the chain
- Approved building plan, if available
- Recent property tax receipt and light bill
- Valuation is done by the bank
You, if you have a job
- PAN card and Aadhaar card
- Last 3 months' salary slips and 6 months' bank statement
- Form 16 or income tax returns (ITR), last 2 years
You, if you have a business
- PAN card and Aadhaar card
- Income tax returns (ITR), balance sheet and profit and loss, last 2 to 3 years
- Bank statements, last 12 months
- GST certificate and returns, if you have GST
How it works
Five simple steps, from your first call to the bank's answer.
Call or message us
Tell us about the property, the amount you need and why.
We check the property and your income
We look at your papers, your income and your current EMIs.
We choose the bank and apply
We pick banks that accept your type of property and send the file.
The bank values the property
The bank checks the value and the legal papers. We follow up.
Sanction and payment
After the sanction letter and final checks, the bank pays the loan.
Check your monthly EMI
Move the sliders to see a rough EMI for a loan against property. This is only an example.
- Loan amount
- Total interest
- You pay in total
This is only an estimate. Your bank's real interest rate and fees can be different.
Check this with MrugeshCommon questions
Will I lose my property?
No. You keep living in it or using it. The bank only keeps the papers until you finish paying. But if you stop paying EMIs for a long time, the bank can take action, so borrow only what you can repay.
What can I use the money for?
Many people use it for business, children's studies, a wedding or medical needs. Each bank has its own rules, so we check first.
How much can I get?
It depends on the value of the property, your income and your current EMIs. The bank gives a part of the property value, not the whole value.
Which properties do banks accept?
Many banks accept houses, flats, shops and offices that you own. Some do not accept certain types of property or areas. We check which bank suits yours.
Does Jensi Finloan give the loan?
No. The bank gives the loan. We prepare your file, send it to the bank and follow up.
Our other services
Jensi Finloan helps with 8 kinds of loans and insurance.
Talk to Mrugesh about your Loan Against Property (LAP)
Send your details on WhatsApp or the enquiry form. Mrugesh will contact you. Office: 14 Sai Vihar Society, Waghodia Rd, near Sharnam, Char Rasta, Vadodara 390019.