Loan against property is a great way of making use of your fixed asset, without having to sell it off. This loan can be used for business expansion, run operations, debt reconciliation, purchase of raw materials, for new investments or any personal use. For applying for Loan Against Property one should go through their basic criteria and benefits to solve their queries.
Let’s take a look at what loan against property offers you.
> Loan Amount
The loan amount depends on the value of property pledged as collateral. Usually, you can avail a high-value loan to finance your immediate needs.
> Rate Of Interest
Loan against property can be availed at an affordable rate of interest as collateral is already provided at the time of applying for a loan.
> Flexible Tenure
You can avail a convenient tenure from anywhere between 2-20 years based on your requirement. This will help you pay off the loan easily. You may even prepay or part-prepay the loan, without incurring any additional costs.
> Online Account
You can manage your loan online. This will let you keep track of loan transactions and better maintain payment cycle. Using login details you can access your account from anywhere, at any time.
> Minimum Paperwork
You just need basic minimum paperwork to avail the loan. Applying online gets you instant approval letting you save time in the process.
One can check for the Loan Against Property Eligibility Criteria for easy processing and best value of your amount.
- Applicant’s age
- Source of income, for eg., job
- Value of property to be pledged
- Any existing obligations
- Income stability
- Previous borrowing track record
Most financial institutions and NBFCs offer attractive loan amount and interest rate, so check for the best offers to suit it. To get further knowledge about Loan Against Property Visit at Basics of Availing a Loan Against Property for New Borrowers
Let’s take a look at what loan against property offers you.
> Loan Amount
The loan amount depends on the value of property pledged as collateral. Usually, you can avail a high-value loan to finance your immediate needs.
> Rate Of Interest
Loan against property can be availed at an affordable rate of interest as collateral is already provided at the time of applying for a loan.
> Flexible Tenure
You can avail a convenient tenure from anywhere between 2-20 years based on your requirement. This will help you pay off the loan easily. You may even prepay or part-prepay the loan, without incurring any additional costs.
> Online Account
You can manage your loan online. This will let you keep track of loan transactions and better maintain payment cycle. Using login details you can access your account from anywhere, at any time.
> Minimum Paperwork
You just need basic minimum paperwork to avail the loan. Applying online gets you instant approval letting you save time in the process.
Eligibility for Loan Against Property
One can check for the Loan Against Property Eligibility Criteria for easy processing and best value of your amount.
- Applicant’s age
- Source of income, for eg., job
- Value of property to be pledged
- Any existing obligations
- Income stability
- Previous borrowing track record
Most financial institutions and NBFCs offer attractive loan amount and interest rate, so check for the best offers to suit it. To get further knowledge about Loan Against Property Visit at Basics of Availing a Loan Against Property for New Borrowers
Alisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health.
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