IIFL SAMASTA Interview Questions and Answers

L.A.P Loan is a loan against property where the borrower pledges their property as collateral.

• L.A.P Loan is a secured loan where the borrower pledges their property as collateral

• The loan amount is usually a percentage of the property's market value

• The interest rates are lower compared to unsecured loans

• To find needy customers, we can target individuals who own properties and are in need of funds for business or persona

Mel Loan is not a commonly known term. It is possible that the interviewer meant something else.

• Mel Loan is not a term used in the financial industry or banking sector.

• It is possible that the interviewer meant to ask about a different loan product or service.

• Without further context or information, it is difficult to provide a more specific answer.

Documents required for secured loan

• Proof of identity (Aadhaar card, PAN card, passport, etc.)

• Proof of address (electricity bill, telephone bill, etc.)

• Proof of income (salary slips, income tax returns, etc.)

• Property documents (title deed, sale deed, etc.)

• Valuation report of the property

• Loan application form

• Passport size photographs