A Loan Against Property (LAP) has many advantages over a Top-up Loan. They include:
A Higher Loan Amount
: Typically, an LAP may offer a higher loan amount than a Top-up Loan.
Avail of Different Property:
While an LAP can be availed of against a different residential or commercial property than the one for which the loan was originally taken, a Top-up Loan may only be taken against the property already in question. This flexibility allows you to both avail of a higher loan amount and spread your liability.
An LAP can be availed for a long term than a Top-up Loan.
For more features of an AXIS Bank Loan Against Property, please click here