Secured Loan against Property

Let your property be a shelter to your dreams. Lokunnati India Nidhi Limited’s Loan Against Property (LAP) is a multi-purpose loan that can be used for your business or personal needs. Anyone who is the member of Lokunnati India Nidhi Limited and owns Residential / Commercial property can apply for Loan Against Property (LAP).

Salient Features:

  • Loan against fully constructed, freehold residential and commercial properties.
  • Purpose: For meeting personal needs like, acquiring asset, education needs, marriage, personal travel, etc. against the mortgage of residential property / plot acceptable to us.
  • Min and Max Loan Size: Every Member can avail loan from ₹1,000 to a maximum of ₹2 Lacs.
  • Tenure: Loan tenure of up to 7 years.
  • Interest rates are levied on a daily reducing balance method.
  • Lowest processing charges.
  • Quick Processing with Easy and hassle-free documentation.
  • Simple repayments through monthly instalments.
  • No prepayment penalties. You can have surplus funds at any time thereby conveniently reducing your loan liability and interest burden.

Eligibility Criteria for Loan Against Property:

  • Property Value
  • Repayment Capacity
  • Assets & Liabilities
  • Age
  • Legal & Technical Clearance of Property Title

  • The above criteria are subject to change from time to time at the sole discretion of Lokunnati India Nidhi Limited

Terms and Conditions:

  • Security of the loan is a first mortgage of property against which the loan is being advanced and / or any other collateral / interim security as may be required by Lokunnati India Nidhi Limited.

  • Loan under LAP should be liquidated before eldest borrower attains the age of 60 years.

  • For detailed information about Lokunnati India Nidhi Limited’s products and services kindly visit the nearest Lokunnati India Nidhi Limited branch.

Our products are well tailored not only to the income group of the member, but to relevant considerations like how much loan members would like to avail against jewellery, and their comfort levels with respect to the interest rate and periodicity of repayment of interest and principal.

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