Plans to travel can happen suddenly without prior notice. These can happen due to leisure or due to emergency reasons. In each of these cases, however, they take up a lot of money. If have been planning to go abroad for a long time but have not been able to do so because of monetary constraints, then you can now do so with a loan against property.
A loan against property is a secured loan which means the interest is lower and further the repayment period is longer. This means that you can gradually pay out the loan amount without becoming a financial burden.
With a loan against property for wedding or travel, you can take loan amounts of up to Rs. 3.5 crores which can be paid back in a tenor of up 20 years. Once approved, the amount is disbursed within 72 hours. This gives you more time to plan routes, search for accommodation, and research the surrounding areas. The amount borrowed against the value of your property can then be utilised for a number of purposes including purchasing travel tickets, booking accommodation, paying for meals, be it for family or friends, and for buying souvenirs.
A hidden benefit of opting for such a loan is that it helps in keeping your savings intact for a rainy day. You also do not need to dissolve your investments and they can be used to get access to money. All you need to do is ensure that your property always receives the highest level of maintenance and has all the required facilities. This helps its value rise when the need for a loan arises.
There are a number of lenders including NBFCs (Non Banking Financial Institutions who offer this facility) but their terms and conditions, interest rates, and loan amounts vary greatly. So select your lender after doing a thorough research.
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.
No comments:
Post a Comment