Leverage Your Assets
Unlock
Hidden Value With
Loan Against Property
Leverage the hidden equity of your residential or commercial real estate. Meghalaya Rural Bank provides substantial, multi-purpose capital injections against your property at incredibly competitive interest rates.
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Why choose
our LAP?
Your property is your strongest asset. Put it to work seamlessly to fund your most vital overarching goals.
- Finance against eligible residential property.
- Eligible personal purposes such as marriage.
- Medical expenses.
- Education expenses.
- Foreign travel.
- Term Loan facility.
- Loan generally not available for speculative purposes.
- Eligible property must be acceptable to Bank.
- Salaried employees.
- Professionals.
- Self-employed persons.
- Eligible NRIs.
- Property may be owned in borrower's/eligible relative's name as per scheme.
- Minimum CIBIL generally 700.
- Adequate income/repayment capacity required.
- Salaried:
- ₹10–25 lakh – 10.50% p.a.
- ₹25,00,001–₹75 lakh – 10.75% p.a.
- ₹75,00,001–₹3 crore – 11.00% p.a.
- Businesspersons:
- ₹10–25 lakh – 11.00% p.a.
- ₹25,00,001–₹75 lakh – 11.25% p.a.
- ₹75,00,001–₹3 crore – 11.50% p.a.
- KYC documents.
- Income proof/ITR.
- Bank statements.
- Property title documents.
- Valuation report.
- Non-encumbrance/search report.
- Mortgage-related documents.
- Property insurance documents.
- LTV generally up to 65% of realizable value.
- Tenor up to 15 years.
- Eligible property should be non-encumbered and legally acceptable.
- Open plots/under-construction/ineligible property categories are excluded as per scheme.
- CERSAI search and title due diligence apply.
- Residential and select commercial properties are eligible
- Eligible for town areas only