Pledge a residential or commercial property to borrow up to 50–70% of its market value. Tenure up to 15 years, rates 9–13% (lower than personal loans, higher than home loans). The property is used as collateral and stays in your name.
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LTV cap for type
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Requested loan
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Processing fee + GST
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LAP vs home loan vs personal loan
Rate: Home loan ~8.5% < LAP ~10.5% < Personal loan ~13%+
Tenure: Home loan up to 30 yr; LAP up to 15 yr; Personal loan up to 5 yr
Tax benefit: Home loan has Section 24(b)/80C; LAP only if used for business/home purposes; personal loan generally none
End-use: Home loan restricted to property buy/construct; LAP and personal loan unrestricted