Meca Finance
Loan Against Property
A loan against property (LAP) lets you raise a larger amount at a lower rate than unsecured loans, while you continue to use your property. It’s often an option even when your credit score isn’t perfect.
Key features
- Residential and commercial property accepted
- Higher loan amounts with longer tenures
- Use for business, education, medical or other needs
- Balance transfer and top-up options
- Often considered for applicants with lower credit scores
Who can apply
- Self-owned property with clear title
- Salaried or self-employed with repayment capacity
- Property valuation and legal check by the lender
Documents needed
- PAN card
- Aadhaar card or other address proof
- Passport-size photographs
- Property papers and chain documents
- Income proof (salary slips / ITR)
- Last 6–12 months’ bank statements
Eligibility criteria and documents vary by lender. Approval, rate and terms are decided by the lender.
FAQ
Loan Against Property: common questions
Can I get a loan against property with a low CIBIL score?
Because the loan is secured by property, some lenders are more flexible with credit scores. Approval still depends on the lender’s assessment of your income, property and history.
Can I keep living in or using the property?
Yes. You keep using the property as usual; the lender holds a charge on it until the loan is repaid.
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