
TRADEMARK IN INDIA: REGISTRATION PROCEDURE AND COST
Think of buying your favorite brand of shampoo or Biscuit. The first thing you check after picking up, the logo of the company. That little
Loan towards belongings is a model of private loans. This version of a personal mortgage is simple to get right of entry to, has an affordable hobby fee. However, a good way to get LAP (Loan towards assets), you need to put ahead of your own home as collateral. Once you try this, the bank or the NBFC will provide you with 60-70% of the current market value of that belongings s mortgage.
Putting your property as collateral doesn’t mean that you are not allowed to apply it however, you’ll be accurate on your promise of compensation after a certain time period. Otherwise, the financial institution is fully in their rights to take that property from you. There is no want to fear if you are suitable in your promise and the collateral will be eliminated after your whole compensation.
You would assume that the case of collateral behind those loans would possibly make people fearful approximately getting this type of mortgage. However, it’s far taken into consideration to be one of the most favored types of loans in India. It is favorable in this country for the following reasons:
It may be implemented for toddler’s marriage.
For expanding a commercial enterprise
For funding clinical remedies
For investment better research.
For holiday functions.
LAP is considered the most favoured form of personal loans for the following reasons:
The eligibility criteria of getting access to Loan against Property are the following:
The above are the eligibility criteria. However, if you want to score a good EMI rate, there is a pro tip for you, make sure that you are good on your credit for that loan.
How much amount can I get via this loan?
Collateral is the foundation that LPA is built upon. Seeing that the amount of loan that will be granted to your will be around 60 to 70 percent of the property that you have given as collateral. However, this is not the only factor of the loan about that a bank can grant to you. Your education, your earnings, your age, qualifications also dictate the amount that you can get via this loan.
What sort of property can be considered collateral for LAP?
Following are the property types that can be considered as collateral to avail Loan against Property:
If I repay my entire loan beforehand, will there be any charges?
Prepayment is a special concept when it comes to LAP. If you happen to prepay your entire loan amount before the tenured time, chances are that you won’t have to bear any charges. However, the policies regarding prepayments differ from bank to bank. Therefore, it is expected that their might at least some nominal charges.
I am a self employed professional, can I get access to LAP?
Yes, you can get Loan against property. All you need to do is put forward the following documents.
What is the repayment period of LAP?
LAP has a pretty long repayment period. This period is of 15 years which is comparatively twice the time of other variants of personal loans, which is mostly of 7 years.
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Think of buying your favorite brand of shampoo or Biscuit. The first thing you check after picking up, the logo of the company. That little
Think of buying your favorite brand of shampoo or Biscuit. The first thing you check after picking up, the logo of the company. That little
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