₹10 Lakh to ₹5 Crore • Flexible Tenure • Multipurpose Loan
At Fastter Finance, we offer Loan Against Property (LAP) to help you meet your financial needs by using your property as collateral. Get high loan amounts at lower interest rates for business expansion, debt consolidation, education, or any personal requirement.
Easy qualification with property as security
High loan value based on property worth
Residential, commercial & industrial properties
Funds for business expansion, working capital
Wedding, education, medical, travel expenses
The loan is secured against your property which acts as collateral. This reduces risk for lenders, resulting in lower interest rates compared to unsecured loans.
Loan amount is determined based on property value. Generally, you can get 60-70% of property's market value as loan amount, much higher than personal loans.
Repayment period ranges from 5 to 20 years, allowing for lower monthly installments and better cash flow management.
No restrictions on usage. Use funds for business expansion, debt consolidation, education, wedding, medical expenses, or any personal need.
Successfully repaying LAP positively impacts your credit score, demonstrating responsible borrowing behavior and improving future loan eligibility.
A Loan Against Property may be termed as a Mortgage Loan since to avail LAP, you need to mortgage your property to cover risk of non-payment. Lenders analyze your personal and financial profile including nationality, age, occupation, income, and property value before approval.
LAP EMI (Equated Monthly Installment) is calculated using the Compound Interest formula:
EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1]
Where:
EMI = Equated Monthly Installment
P = Loan Principal Amount
r = Monthly Interest Rate (Annual rate ÷ 12)
n = Loan Tenure in Months
| Particulars | Charges |
|---|---|
| Loan Processing Fees | 0.25% to 2% of Loan Amount |
| Loan Cancellation | Nil - 5% (as per Bank/NBFC) |
| Stamp Duty Charges | As per Property Value & State Tax |
| Legal Fees | As per actual |
| Penal Charges | 2% per month |
| EMI/Cheque Bounce | Approx ₹500 |
| Foreclosure Charges | Nil to 4% (as per Bank/NBFC) |
Note: Other charges may include documentation charges, verification charges, duplicate statement charges, NOC certificate charges and swap charges.
"Fastter Finance helped me find the appropriate lender offering me the best interest rates and terms & conditions for purchasing a warehouse to setup my manufacturing unit. Within a span of 20 days my loan against property got approved and disbursed."
— Dhwani Dave"Not having proper knowledge of loan repayment, I accumulated debt of ₹37 lakhs from 4 banks. Fastter Finance helped me consolidate all loans into one LAP at lower interest rate by offering my home as collateral. Their guidance was invaluable."
— Mann Desai"I really liked the loan against property by Fastter Finance. The moment I applied, I got a call from their representative. My documents were collected from home and the process was completed on time. A big thanks to Fastter Finance."
— Prerana Soni"My loan against property was taken through Fastter Finance. It was a smooth process and they regularly updated me with developments. They sanctioned my loan in proper time frame. Surely recommended."
— Aditi GangwalBusiness expansion, debt consolidation, education expenses, medical emergencies, wedding, home renovation, travel, or any personal/business need without restrictions.
Typically 60-70% of property's market value. Amount ranges from ₹10 Lakh to ₹5 Crore depending on property value and eligibility.
Starting from 9.5% p.a. Rates vary based on loan amount, tenure, property type, credit score, and relationship with lender.
Yes, you can continue to use/occupy the property. Only title is mortgaged, not possession. You remain owner and user.
Flexible credit line where you pay interest only on amount utilized, not sanctioned limit. Better for fluctuating fund needs.
Pay interest only on utilized amount, flexible withdrawals & repayments, better for business cash flow management.
Yes, transfer existing LAP to another lender for lower interest rates, better terms, or higher loan amount.
Yes, after regular repayments for 12+ months, you can get additional loan on same property if property value has increased.
Based on location, size, age, construction quality, amenities, and recent sale prices of similar properties in area.
Residential (house, apartment), commercial (shop, office), industrial (factory, warehouse), and land with construction.
Home Loan: For property purchase, lower interest rates, strict end-use. LAP: Against owned property, higher interest rates, flexible usage.
Yes, but check prepayment charges (0-4% of outstanding). Some lenders allow free prepayment after certain period.