Loan against property (LAP) means a loan that is given or disbursed against the property. … These loans are secured and have a lower rate of interest which makes it easier for you manage while repaying it via EMI’s. You can avail many types of loans against property such as: Loan against rented commercial properties.
Home Loan V/S Loan Against Property
There is a very thin line between home loan, mortgage loan and a loan against property when it comes to the Indian context. are essentially loans given by the bank for the purpose of acquiring a home or a residential property. Banks give the loan but the home or property is served as collateral to secure the loan.