Mortgage loan is provided by Banks and NBFC's against Residential property, Commercial property or even a plot.

Types of Mortgage Loans

Loan Against Property
Loan Against Property is an EMI based loan. The eligibility of LAP is based on the EMI payment capacity of an Individual or Non-Individual. Valuation of the property is also an important factor, while calculating the Loan amount.

Dropline Overdraft
Dropline-OD or LAP-OD is a facility given to overdraw your current account up to a limit specified by the bank. Under this facility, you pay interest only on the amount utilised or withdrawn. Interest is calculated on the daily utilised amount and is normally charged in the end of the month. This product is specifically for Companies, Partnership Firms and Self employed Individuals.

Lease Rent Discounting
Lease Rent Discounting or Rent Securitisation is a product offered by Banks / Financial institutions wherein a fully constructed asset which has been completely leased out is given on mortgage with assignment of rent receivables from the tenant in favor of the lending institution. This is a completely secured transaction as the property is given on mortgage. The rate of interest varies from institution to institution, however, this category of loan is generally subsidized compared to other lending rates