Question 1

What is a Loan Against Property?

Accepted Answer

Loan Against Property is a mortgage loan offered to individuals, firms and companies against their existing property.You can access the untapped potential of your real estate holdings with Loan Against Property. You can borrow money using your property as collateral, while paying it back over time via EMIs. This way, you can continue to own your property and raise funds against it.

Question 2

How will Jio Finance decide my LAP eligibility?

Accepted Answer

We assess the customer's repayment capacity based on various criteria - including income, age, stability and continuity of occupation, and savings history etc.

Question 3

Who is a co-applicant?

Accepted Answer

A co-applicant for a loan against property is someone who shares the responsibility of repaying the loan with the primary borrower. A co-applicant can be a spouse, immediate family member, or other individual who meets the eligibility criteria.

Question 4

How much loan will I get against my property?

Accepted Answer

Loan value against the mortgaged property is decided basis multiple factors viz. applicant's profile, repayment capacity and property's value. Jio Finance offers upto 70% of your property.

Question 5

What can a Loan Against Property be used for?

Accepted Answer

A Loan Against Property can be used for:

Business needs: Working capital, business expansion, debt consolidation, purchase of machinery, and more.
Personal needs: Education expenses, education expenses, emergency funds, non-residential property purchase and more.

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