Why Should I Apply For Loan Against Property (LAP) On Muthoot FinCorp ONE.png

A Loan Against Property or LAP is a type of secured loan that you can get against your commercial and residential properties. You can use this loan to meet your expenses easily by mortgaging your collateral to get the loan.

In this blog, we'll explore the reasons why taking a Loan Against Property is a smart move and guide you through the simple process of applying through the Muthoot FinCorp ONE app.

Why Should I Take Loan Against Property (LAP)?

1. Maximum Loan Amount: With Loan Against Property (LAP), you can secure a loan up to 1 crore, depending on the value of your property. This substantial amount opens doors to fulfilling diverse financial requirements, from personal needs to business expansions.

2. Minimal Documentation: One of the key features of Loan Against Property (LAP) is the minimal documentation required. Unlike other loans that demand an exhaustive list of income-related documents, Loan Against Property (LAP) makes it easier for you by eliminating the need for income documents.

3. Maximum Loan Amount Against Property Value: The loan amount you receive is directly tied to the value of your property. This ensures that you can leverage your property's full potential to meet your financial goals.

4. Quick and Easy Process: Muthoot FinCorp ONE app streamlines the Loan Against Property (LAP) application process. Just follow a few simple steps, and you're on your way to turning your property into a financial asset.

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

- Download the App: Start by downloading the Muthoot FinCorp ONE app.

- Choose Loan Against Property (LAP): Navigate to the Loan Against Property section on the home page.

- Fill Required Details: Input your desired loan amount and submit.

- Receive a Call: Expect a call from Muthoot FinCorp's customer support team, guiding you through the next steps.

Benefits of Loan Against Property (LAP)

- Competitive Interest Rates: Loan Against Property (LAP) offers competitive interest rates, making it a financially viable option.
- Tax Benefits: You may be eligible for tax benefits on your interest payments.

- Flexible Repayment Options: Enjoy longer tenures and flexible repayment plans tailored to your financial capacity.

- Quick Approval and Disbursement: Once approved, your loan is swiftly deposited into your account, ensuring you get the funds when you need them.

Keep in mind that Loan Against Property (LAP) is available only in cities with a Muthoot FinCorp branch. If your property is jointly owned, all owners must apply together.

Also, repaying your Loan Against Property (LAP) is convenient with multiple options such as Net Banking, Debit Card, UPI on the app, or in cash or via e-NACH at any Muthoot FinCorp branch.

Lastly, when you are ready to close your Loan Against Property (LAP), visit the nearest Muthoot FinCorp branch. Our representatives will assist in checking your outstanding amount and guide you through the closure process, providing a No Objection Certificate (NOC).

Taking a Loan Against Property is a strategic move to make your property work for you, providing financial flexibility and a myriad of benefits. With Muthoot FinCorp ONE app, the process is simplified, ensuring you can unlock the full potential of your property with ease.

Why Should I Apply For A Loan Against Property (LAP) On Muthoot FinCorp ONE?

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