Everyone needs some money at some point of time or the other whether for personal or business needs. Though borrowing from friends and family is usually a favoured option for small sums, however, if the amount required is large, then a better option would be to leverage a property or a piece of land you own as a collateral to take a loan against property from the bank.
Among the many banks that offer loan against property, one is Bank of India. The bank was founded in 1906 and currently operates through 4,963 branches, 5 subsidiaries and 54 zonal offices across the country and an overseas joint venture. Bank of India’s primary objective is to provide state of art, proactive and innovative banking solutions to its customers. The bank is one of the leading banking institutions in our country and offers a wide range of products and services catered to various sectors from corporate and SME to rural and retail, among others. One of its finest product is the mortgage loan or loan against property.
Loan against property, also known as LAP, is a loan which helps an individual to get a loan amount against his assets. LAP provides loan against one’s property. It is a perfect way to unlock the value of one’s property and realize one’s dreams.