Understanding Loan against Property
Interest Rates and Charges
Different Types of Interest Rates
Fixed Rate of Interest
Throughout the repayment tenure, the EMI remains unchanged.
Floating Rate of Interest
• It changes as per market conditions.
• Interest rates are directly proportional to RBI's benchmark rate.
Charges Associated With LAP
• One-time cost for loan processing.
• It covers administrative cost, carrying cost, etc.
It is charged for the verification of property-related papers.
It is charged when a borrower prepays the debt.
It is charged when a borrower makes a bulk payment towards
The lender imposes this late fee on delayed EMI payments.
It is charged when your cheque gets bounced due to
Extending the repayment tenure attracts loan rescheduling
Go through LAP interest rates and fees carefully, so you can
make your EMI payments comfortably and punctually.
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