How To Apply For Loan Against Property (LAP) On Muthoot FinCorp ONE?

How To Apply For Loan Against Property (LAP) On The App.png

If you find yourself in need of financial assistance and own a property, you might want to consider a Loan Against Property (LAP). This type of loan allows you to use your residential or commercial property as a mortgage to secure a loan.

Muthoot FinCorp Ltd. makes the application process easy through its Muthoot FinCorp ONE app, ensuring that you can make your property work for you.

Let's explore the step-by-step guide on how to apply for LAP on the Muthoot FinCorp ONE app and look into the top benefits of opting for this type of loan.

  • Step 1: Download the app: Begin your journey by downloading the Muthoot FinCorp ONE app.

  • Step 2: Click on Loan Against Property (LAP) on the home page: After downloading, open the app and find the 'Loan Against Property (LAP)' option on the home page. Click on it to kickstart your application.

  • Step 3: You will be redirected to the LAP landing page: Upon selecting LAP, the app will redirect you to the dedicated landing page for Loan Against Property.

  • Step 4: Fill in your required loan amount and click submit: Here, you will encounter a card that says 'Loan Against Property Made Easy.' Input the amount you require and hit submit. The process is designed to be quick and hassle-free.

  • Step 5: Await a call from customer support: After submission, expect a call from Muthoot FinCorp's customer support representatives. They will guide you through the next steps, ensuring a smooth process.

Top 5 Benefits of Loan Against Property (LAP)

  • Loan up to ₹1 Crore: Muthoot FinCorp offers LAP with a maximum loan amount of ₹1 Crore, providing substantial financial support to meet diverse needs.

  • No Income Documents Required: One of the key features is the simplified documentation process. Unlike many loans, LAP from Muthoot FinCorp Ltd. doesn't require extensive income documents, making it accessible and convenient.

  • Quick Loan Processing: Experience a swift loan processing time. The Muthoot FinCorp ONE app ensures that your application moves through the necessary steps efficiently.

  • Flexible Repayment Options: Muthoot FinCorp ONE understands the importance of flexibility. LAP offers various repayment options, allowing you to choose a plan that aligns with your financial situation.

  • Competitive Rate of Interest: Get competitive rate of interest, making LAP an attractive option for leveraging your property without breaking the bank.

How to Repay Or Close Your Loan?

Repaying your LAP: This is made easy through the Muthoot FinCorp ONE app. You can use Net Banking, Debit Card, or UPI for online payments. Alternatively, cash or e-NACH payments can be made at any Muthoot FinCorp Ltd. branch up to the approved cash limit.

Closing Your Loan: To close your LAP, visit the nearest Muthoot FinCorp Ltd. branch to check your outstanding balance. The branch representatives will guide you through the closure process and provide a No Objection Certificate (NOC).

Applying for a Loan Against Property on the Muthoot FinCorp ONE app is a straightforward process designed to make your property work for you. With benefits like substantial loan amounts, minimal documentation, and competitive interest rates, LAP emerges as a reliable financial solution.

About Muthoot FinCorp ONE

Muthoot FinCorp ONE is an all-in-one digital financial platform that makes getting an MSME & a Gold Loan, investing in Digital gold & NCDs, making payments & remittances, buying insurance & exchanging forex, simple and convenient.

As an SBU of Muthoot FinCorp Limited, Muthoot FinCorp ONE is backed by a legacy stretching back over 135 years, and the trust of more than 1 crore customers and is building a holistic financial ecosystem using the latest digital products for lending, investing, protection and payments.

Muthoot FinCorp ONE continues to uphold the values of the parent, the Muthoot Pappachan Group (Muthoot Blue) by providing its customers with easily accessible services, replete with unmistakable quality. The Muthoot Pappachan Group is among India’s most reputed names in the financial services industry, with customers in diverse segments like Automotive industry, Financial Services, Hospitality, Alternate Energy, Real Estate, and Precious Metals.

So what are you waiting for? Head to the Play Store and download the Muthoot FinCorp ONE app. You can also visit the website today to know more.

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