What is lap and housing loan

Question

Accepted Answer

Lap and housing loans are types of loans provided by banks for purchasing or constructing a house or property.

LAP stands for Loan Against Property and is a type of secured loan where the borrower pledges their property as collateral.
Housing loan is a type of loan provided by banks for purchasing or constructing a house or property.
Both loans have different interest rates, repayment tenures, and eligibility criteria.
LAP can be used for various purposes like business expansion, education, medical expenses, etc.
Housing loan is specifically for purchasing or constructing a house or property.
The amount of loan sanctioned depends on the value of the property being pledged or purchased.
Both loans require proper documentation and verification before approval.

Accepted Answer

Get loan on Applicants to improve his business for existing business. This loan relevant lap, and home loan as like PL property Loan on hirer property.

What is lap and housing loan

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