Loan Against Property (BLAP) is a secured loan option in India that allows individuals and Micro, Small, and Medium Enterprises (MSMEs) to borrow funds by using residential or commercial property as collateral. This loan provides access to substantial funds at competitive interest rates, making it ideal for business expansion, managing cash flow, or personal financial needs. BLAP offers the flexibility to leverage property while retaining ownership and continued use, making it a strategic tool for MSMEs to invest in growth opportunities. The security and practicality of BLAP make it an attractive choice for those seeking reliable financing options.
Different Types of Business Loans Against Property, their Interest Rates and Tenures
EFL provides a variety of mortgage loans tailored to meet the distinct financial needs of each borrower. Here is a quick summary of the various types of loans available in India.
Business Loan Against a Residential or Commercial Property for the Self-Employed
Business Loan Against Property (BLAP) is an ideal financing solution for self-employed individuals. Using a residential or commercial property as collateral, they can access significant funds at competitive interest rates. This loan supports business growth, manages working capital, and provides flexibility while allowing continued use of the property.
Business Loan Against Property for Salaried Employees
A Business Loan Against Property for salaried employees provides a financing option by leveraging the borrower’s property. Unlike unsecured loans, BLAPs allow for large loan amounts and flexible repayment terms, making them ideal for significant expenses such as education, medical emergencies, or home renovation.
Business Loan Against Property for Chartered Accountants
For chartered accountants, a business loan against property offers a strategic financial boost. It provides substantial funding for investments, practice expansion, or personal needs at lower interest rates. With the ability to repay at a reasonable pace and minimal documentation, this loan ensures smooth cash flow management for personal or professional growth.
Business Loan Against Property for Doctors
An BBLAP empowers doctors to fund their practice expansion, acquire advanced equipment, or manage operational costs effortlessly. By leveraging the property’s value, medical professionals gain access to funds, allowing them to focus on enhancing patient care and expanding their practice without financial constraints.
Business Loan Against Property for Home Renovation
Whether you want to renovate the bathrooms or replace the roof of your residential property, a business loan against the same property is the ideal solution. It enables homeowners to enhance their property’s value and living conditions without draining their savings. Plus, the long repayment tenure makes it a smart financial decision.
Business Loan Against Property for Education
Unlock the value of your property to fund your child’s education with a business loan against property. Benefit from lower interest rates and flexible repayment terms, making higher education more affordable. Secure their future without financial stress, leveraging your assets to invest in their success.
Business Loan Against Property for a Wedding
A business loan against property is perfect for funding a memorable wedding. It allows you to unlock the value of your property to cover all the essential expenses. With this financial solution, you can focus on creating cherished moments without worrying about your budget.
Business Loan Against Property for Debt Consolidation
A mortgage loan for debt consolidation simplifies your finances by merging multiple debts into one manageable loan or through a balance transfer. This option allows you to consolidate outstanding balances, making it easier to manage your payments. With your property as collateral, you gain a streamlined approach to resolving existing debts efficiently.
Lease Rental Discounting
Lease rental discounting provides quick access to funds by leveraging your rental income as collateral. It’s a smart way to unlock capital from your property’s rental value, enabling you to invest in opportunities or meet financial needs. This flexible financing option makes it easier to manage cash flow effectively.
With over three decades of expertise, Electronica Finance Limited (EFL) has served more than 35,000 businesses through its 200+ branches across India. EFL’s advisory approach ensures tailored financing solutions, including BLAP, machine loans, rooftop solar loans, and many more. EFl also assures seamless loan processes. We also offer third-party machine insurance with our loans, providing added security. Trust EFL for reliable, expert financial support to meet your business needs and safeguard your investments.
FAQ
What is the business loan against property market in India?
The business Loan Against Property (BLAP) or mortgage market in India offers substantial borrowing potential. Loans can reach up to ₹25 crore with tenures extending up to 20 years depending on the lender and borrower profile. Interest rates typically range from 8.50% to 18% per annum, making BLAP a flexible financial solution for many.
Which NBFC is best for a business loan against property?
Electronica Finance Limited distinguishes itself as the top NBFC for obtaining a business loan against property. With over 35 years of expertise, a wide network across India, and a personalised advisory approach, EFL offers tailored financial solutions and added benefits like third-party machine insurance, making it a top choice for borrowers.
What are the eligibility requirements for a mortgage loan?
The eligibility for a business loan against property depends on several factors, including the value of the property, the debtor’s income, credit score, and terms and conditions set by the lender. EFL provides a straightforward process to help you understand and fulfil the business loan against property eligibility requirements, ensuring a smooth sanction of your loan.
