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  Things You Need to Know Before Applying for a Loan Against Property Source:  Things You Need to Know Before Applying for a Loan Against Property (aavas.in) Financial requirements are inherently uncertain and unpredictable, and our aim is to fulfill them promptly. However, there are often gaps between the capital we require and the amount we possess. In such cases, we have the option of obtaining a loan to meet our needs. There are two choices available: a personal loan and a  Loan Against Property  (LAP). Personal loans typically come with high-interest rates, while loan against property interest rates are comparatively competitive to personal loans.  Although we frequently hear the term LAP in the context of credit, its meaning and utilization might be unfamiliar to some. Let's delve into the fundamentals and workings of LAP in the banking industry to gain a better understanding.   Q1. What is Loan Against Property?   A Loan Against Property (LAP) is a form of secured loan where

  How Construction Loan is different From Home Loan Source:  Know the Difference Between Home Loans and Home Construction Loans: A Comprehensive Guide (aavas.in) In India, every family shares a common aspiration—to reside in their ideal abode. Nonetheless, the soaring costs of real estate make it exceedingly challenging for individuals to afford a residential property solely through their own means. To assist people in achieving their property dreams, financial institutions such as banks and non-banking finance companies offer two distinct loan options: home loans and home construction loans. Both these loan products extend considerable financial aid to individuals seeking to purchase a home. However, it is essential to understand the key differences between these two loan types, as well as the notable characteristics, eligibility criteria, and loan classifications that should be taken into account. This informative piece addresses all of these questions and more. Difference between Ho