Some unique features of Deutsche Bank LAP are:
- The maximum value of the property is provided to the tune of 70% for residential.
- The residential property can be self-owned or can be rented too. However, properties co-owned by minors/ HUF/ trusts are not eligible for LAP.
- For Self-employed, one can get LAP against office premise or a shop.
- Insurance is provided with Loan against property loan to cover the risk of the loan which helps the family to pay the outstanding loan in case of unanticipated scenarios.
- A Balance Transfer option is available here and one can take the advantage of the same if the existing home loan is running at a higher interest rate, that home loan can be transferred to Deutsche Bank at the current rate.
- The EMI on outstanding loan amount is calculated by the bank using a specific tool called a loan against property EMI calculator to make the figures exact and accurate.