A loan against property or LAP is a secured multi-purpose loan given by lending institutions like Optimo Capital to a borrower in exchange for holding their property as collateral. Collateral is an asset given to another party in exchange for receiving funds up to the repayment of the funds taken. Property is one of the best collaterals for taking a loan, specifically a loan against property or mortgage. You can use a LAP for a variety of purposes, including business expansion, debt consolidation, working capital etc. These loan against property FAQs can help you better understand the details of the loan against property and decide whether it is the right choice for you.

The borrower must be a minimum of 21 years of age The borrower must be a salaried individual, a self-employed professional, or a partnership or private ltd. company They must meet a specific monthly income requirement based on the nature of their profession They must have continuous, stable work experience with the same employer or in the same profession, for 2-3 years They must have Indian citizenship. Must have clear ownership documents for the property being provided as collateral.

Sometimes, borrowers can have a misconception that only their home or residential property can work as collateral for taking a loan against property. However, depending on the lender, even commercial or industrial properties are eligible to take a LAP. However, if there is more than one owner of the property, all the respective co-owners must apply for the loan against the property together and be co-applicants. Moreover, the property in question must not have any existing mortgage or encumbrance on it. It must also not be under any legal dispute and have a clear title. Any property tangled in litigation is not considered fit to be an asset for a loan against property.

Yes, your credit score plays a significant role in the approval process for a Loan Against Property. A credit score is a numerical representation of your creditworthiness, based on your credit history, repayment behaviour, and financial habits. Lenders use this score to assess the risk associated with lending to you. A higher credit score indicates a lower risk, increasing your chances of loan approval. What can be used as collateral in LAP? You can use a variety of properties as collateral for a LAP, including your home, an apartment, a commercial or industrial property.

You can use a variety of properties as collateral for a LAP, including your home, an apartment, a commercial or industrial property.

We offer Loan against Property (LAP), Business Loan, Working Capital Loan, and Business development loans.

Our approach is a combination of physical and digital, known as 'Phygital', which ensures a seamless customer experience through personal connections and digital technology.

We employ a holistic assessment approach, using proxy indicators to evaluate customers' income and repayment capacity, and data-driven precision to make informed decisions.

You can either contact your nearest Optimo Capital Branch or get in touch with our contact centre or Simply apply online, share your business details and financing needs, submit necessary documents, and receive a tailor-made loan offer

At Optimo Capital, we deploy customer-centric solutions through which we offer tailored financing options that empower entrepreneurs to drive growth. Their streamlined process ensures a quick and hassle-free experience, provides optimal flexibility and accessible financial products, making Optimo Capital the ideal partner for small businesses seeking reliable financial support.

Yes, we do BT loans at competitive interest rates and through a hassle free process.