Ayka Finance offers a Loan Against Property (LAP) service, where individuals and businesses can secure a loan by mortgaging their residential, commercial, or industrial property. This loan option allows borrowers to unlock the value of their property to meet personal or business financial needs while still retaining ownership of the asset. LAP can be an ideal solution for those looking for significant funding, whether it’s for business expansion, medical emergencies, or education expenses.

Benefits of Loan Against Property (LAP):

1. Lower Interest Rates: LAP typically offers lower interest rates compared to unsecured loans, as the loan is secured by property.
2. Higher Loan Amount: Since the loan is backed by a property, borrowers can access a larger amount of funding based on the property's value.
3. Flexible Repayment Options: LAPs often come with flexible repayment terms, allowing borrowers to choose a plan that best suits their financial situation.
4. Longer Loan Tenure: The loan tenure can be extended for several years, easing the burden of monthly installments.
5. Retain Property Ownership: Borrowers continue to own and use their property even while it is mortgaged, unlike selling it for cash.
6. Quick Processing: LAPs generally have a fast approval process, enabling borrowers to access funds quickly in times of need.
7. Multiple Uses: The loan can be used for a variety of purposes, from personal expenses to business requirements, offering flexibility.