Piramal Finance Loan Against Property

A loan against property (LAP) is a secured loan in which a borrower pledges self-owned property as collateral while continuing to retain ownership and, in many cases, use of that property. Because it is backed by an immovable asset, a LAP typically allows borrowers to raise funds against the market value of residential or commercial property they already own, with the lender holding a charge on the property until the loan is repaid.

Borrowers commonly use it for business expansion, working capital, consolidating existing debt, meeting liquidity needs, or funding large personal expenses, and there are usually no restrictions on how the sanctioned amount is used. Piramal Finance, a non-banking financial company established in 2017, positions its loan against property mainly toward growing businesses and self-employed borrowers who face cash-flow pressures.

Its version emphasises a wide range of acceptable collaterals across different property types, comprehensive income assessment to support eligibility, streamlined formalities intended to speed up sanctions, and the ability for borrowers to continue residing in or renting out the mortgaged property. Piramal also allows a co-applicant structure, which can strengthen an application. As with any secured loan, approval, the sanctioned amount, and final terms depend on the applicant's profile, property valuation, income documents, and credit assessment, and are not guaranteed.