Eligible profiles for LAP BT + Top up
What is Loan Against Property?
A Loan Against Property (LAP) is a secured financial product that helps individuals leverage their residential or commercial property as collateral. In India, banks and NBFCs provide LAP at competitive interest rates, where the property itself acts as security until the loan is fully repaid.
LAP Balance Transfer Eligibility | Express vs Normal BT
Check LAP Balance Transfer eligibility for Express & Normal BT. Reduce EMI and get top-up loan on property with flexible criteria.
| Criteria | Express BT | Normal BT |
|---|---|---|
| Eligible Profiles | Salaried & Self-Employed | Salaried & Self-Employed |
| Age Limit | SE: 23–70 yrs Salaried: 21–60 yrs | SE: 23–70 yrs Salaried: 21–60 yrs |
| Credit Score | 725+ Preferred | 725+ Preferred |
| Minimum EMI Paid | 18 Months | 12 Months |
| Maximum Loan Amount | Up to ₹5 Crore | Up to ₹5 Crore |
| Eligibility Basis | Based on Repayment Track Record | Based on Income (Min ₹12,000/month) |
| Top-Up Calculation | On Original Loan Amount | On BT Outstanding Amount |
| Top-Up Eligibility | ≥18 months → Up to 110% | 12–18 months → Only BT 19–24 months → Up to 50% >24 months → Up to 100% |
*Terms and conditions apply. Final terms are subject to document verification by Money King Financial.
A Smart Way to Manage Your Loan
With Money King LAP, you get the advantage of digital processes, better service, and the option of top-up funding whenever you need it. However, applying without the necessary documents can cost you time and your application fee. Before you start applying, ensure you have:
Documents Required for LAP Loan (BT & Top Up)
| Document Category | Salaried | Self-Employed Individuals | Self-Employed Non-Individuals |
|---|---|---|---|
| Mandatory Document | PAN Card | PAN Card | PAN Card |
| KYC Documents | Voter ID / Aadhaar / Passport / Driving License | Voter ID / Aadhaar / Passport / Driving License and Udyam Registration Certificate | Voter ID / Aadhaar / Passport / Driving License of beneficial owner and Udyam Registration Certificate |
| Proof of Income | Salary slip of last 3 months and Bank statement of last 6 months | P&L, Balance Sheet, ITR, and Bank statement of last 6 months | P&L, Balance Sheet, ITR and Bank statement of last 6 months |
| Vintage Proof | Appointment Letter / Salary Slips having date of joining | Udyam Registration Certificate / ITR / Shop and Establishment Certificate / GST certificate | Udyam Registration Certificate / ITR / Shop and Establishment Certificate / GST certificate |
| Property-related Documents | Title Deed, Allotment Letter, and Property Tax receipts | Title Deed, Allotment Letter, and Property Tax receipts | Title Deed, Allotment Letter, and Property Tax receipts |
Note: Additional documents may be requested based on specific profile requirements.
Switching Your Loan is Easy
Fees & Charges in LAP (BT & Top UP)
Charges Type
Details
Processing Fee
0.5% – 2% of loan amount
Legal & Technical Charges
As applicable
Prepayment Charges
As per lender policy
Foreclosure Charges
Depends on loan type
Stamp Duty
As per state laws
Note: Charges mentioned above are indicative and vary depending on the partner bank and financial institution guidelines at the time of application.
Frequently Asked Questions (FAQs)
Got questions about LAP Balance Transfer? We've got answers.