LOAN AGAINST MORTGAGE OF IMMOVABLE PROPERTY (LAP)

Purpose

  • Mortgage loan utilized for marriage/medical treatment/education/ foreign travel .
  • The proceeds of loan is not to be used for acquisition/ development of land or construction of building space or for any speculative purpose including speculation on real estate and capital market

Age

Minimum 21 years ; Maximum: 70 years

Eligibility

Minimum Net Monthly Income of Rs. 25,000/ (or Rs. 3 lacs per annum).

Quantum of Loan

  • Minimum Loan Amount: Rs. 1 lac
  • Maximum Loan Amount: Rs. 25 lac
  • Scheme is ONLY for Urban centre

Margin

NIL

Interest Rate 

Interest Rate structure for LAP will be as per instructions.

Useful Links

RBI NABARD IBA BCSBI NPCI Rupay