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Loans FAQs

Explore various loan options with our detailed FAQs. Access clear, concise information to choose the most suitable financing solutions for your needs.

How is commercial vehicle financing different from regular auto financing?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
A commercial vehicle loan is similar to a regular car loan in terms of the broad financing process and parameters used.
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What types of used commercial vehicles can be financed?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
A wide variety of used commercial vehicles, including various models of trucks, buses, tempos, pick-up trucks, and heavy construction equipment, are eligible for financing from reputed loan providers.
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Can I use LAP for real estate investments?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
Yes, you can use a loan against property (LAP) to finance your real estate purchase, whether as an end-user, investor, or developer.
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How does prepayment work for LAP?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
Most loan providers allow partial or full prepayment of your outstanding loan against property (LAP) amount before completion of the repayment tenure.
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What happens if I default on LAP payments?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
Defaulting on your loan against property (LAP) equated monthly instalments (EMIs) can lead to serious consequences.
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What is the importance of property insurance in LAP?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
Opting for both property and life insurance is crucial when taking a loan against property (LAP).
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Are there any tax implications for LAP?

  • Posted:26th February, 2025
  • Updated:26th February, 2025
There are no direct tax benefits or exemptions available on loans against property (LAP).
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