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If you find yourself in need of financial assistance and own a property, you might want to consider a Loan Against Property (LAP). This type of loan allows you to use your residential or commercial property as a mortgage to secure a loan.

Muthoot FinCorp Ltd. makes the application process easy through its Muthoot FinCorp ONE app, ensuring that you can make your property work for you.

Let's explore the step-by-step guide on how to apply for Loan Against Property (LAP) on the Muthoot FinCorp ONE app and look into the top benefits of opting for this type of loan.

Step 1: Download the app: Begin your journey by downloading the Muthoot FinCorp ONE app.

Step 2: Click on Loan Against Property (LAP) on the home page: After downloading, open the app and find the 'Loan Against Property (LAP)' option on the home page. Click on it to kickstart your application.

Step 3: You will be redirected to the Loan Against Property (LAP) landing page: Upon selecting Loan Against Property (LAP), the app will redirect you to the dedicated landing page for Loan Against Property.

Step 4: Fill in your required loan amount and click submit: Here, you will encounter a card that says, 'Loan Against Property Made Easy.' Input the amount you require and hit submit. The process is designed to be quick and hassle-free.

Step 5: Await a call from customer support: After submission, expect a call from Muthoot FinCorp's customer support representatives. They will guide you through the next steps, ensuring a smooth process.

Top 5 Benefits of Loan Against Property (LAP)

Loan up to 1 Crore: Muthoot FinCorp offers LAP with a maximum loan amount of 1 Crore, providing substantial financial support to meet diverse needs.

No Income Documents Required: One of the key features is the simplified documentation process. Unlike many loans, Loan Against Property (LAP) from Muthoot FinCorp Ltd. doesn't require extensive income documents, making it accessible and convenient.

Loan Processing: Experience a swift loan processing time. The Muthoot FinCorp ONE app ensures that your application moves through the necessary steps efficiently.

Flexible Repayment Options: Muthoot FinCorp ONE understands the importance of flexibility. Loan Against Property (LAP) offers various repayment options, allowing you to choose a plan that aligns with your financial situation.

Competitive Rate of Interest: Get a competitive rate of interest, making Loan Against Property (LAP) an attractive option for leveraging your property without breaking the bank.

How to Repay Or Close Your Loan?

Repaying your Loan Against Property (LAP): This is made easy through the Muthoot FinCorp ONE app. You can use Net Banking, Debit Card, or UPI for online payments. Alternatively, cash or e-NACH payments can be made at any Muthoot FinCorp Ltd. branch up to the approved cash limit.

Closing Your Loan: To close your Loan Against Property (LAP), visit the nearest Muthoot FinCorp Ltd. branch to check your outstanding balance. The branch representatives will guide you through the closure process and provide a No Objection Certificate (NOC).

Applying for a Loan Against Property on the Muthoot FinCorp ONE app is a straightforward process designed to make your property work for you. With benefits like substantial loan amounts, minimal documentation, and competitive interest rates, Loan Against Property (LAP) emerges as a reliable financial solution.

How To Apply For Loan Against Property (LAP) On Muthoot FinCorp ONE?

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