There is no denying fact that money is the most
powerful asset. One needs to have a financially strong background to enjoy the
luxuries of the normal life. Every now and then we hear hike in price of the
day to day products. It has become extremely difficult for a common man to cope
up with the financial issues. Thanks to availability of loans that a person is
able to survive in this competitive world.
Loan against
property as the name implies- a loan that is paid out against a property
mortgage. There are two sub divisions of loan-Secured Loan and Unsecured Loan.
Loan against Property (LAP) falls under the category of Secured loan where the
applicant pledges his property as a security. It is one of the most common all
purpose loans and can be availed in case of financial urgency. There are also
personal loans but they come with high interest rates and short repayment tenure.
Salaried individuals, business owners, professionals are eligible for this
loan.
The other type of loan available is Lease Rent
discounting (LRD).It is offered against rental receipts derived from lease
contracts with corporate tenants. The loan is provided on the basis of
discounted value of the rentals and also value of the property. In simple words
a person can get his loan sanctioned against his/her leased property. Certain
documents are requisite for obtaining this loan like-address proof of the
individual/partners/directors, business proof, and identity proof and so on.
Loan against securities (LAS) is a smart option to make
your investment worth. Many financial institutions will lend a percentage of
the money you have invested in the market; this is known as loan against securities.
It can be both secured and unsecured and have a fixed interest rate of
interest.
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