Loan

LAP

Also known as: Loan Against Property

Loan Against Property - Secured loan using property as collateral for personal or business needs.

Detailed Explanation

LAP (Loan Against Property) is a secured loan where residential or commercial property is pledged as collateral. LAPs typically offer lower rates and longer tenures than unsecured loans but involve valuation, legal checks, and conservative [LTV](/glossary/ltv).

Related Calculators

Loan EMI Calculator

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Calculate loan EMI, total interest, and view amortization schedule for all types of loans

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Related Terms

LTV

Loan to Value Ratio - Percentage of asset value that the lender will finance through the loan.

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EMI

Equated Monthly Installment - Fixed monthly payment for loans comprising principal and interest.

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Top-Up Loan

Additional loan taken over an existing home loan at competitive rates.

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