Factors to Consider While taking a Loan Against Property

The current economic scenario has created a financial crunch among Indians. Sustaining the daily expenses while meeting emergency fund requirements is becoming all the more challenging. As a solution, many individuals look for a high-value alternative like a loan against property. 

Potential borrowers planning to secure the said credit need to have a clear idea about the related factors or variables. For instance, understanding what is a loan against property will assist them in making an informed decision and organized spending.

According to a report, the Indian loan against property market is predicted to grow over 14% CAGR by FY2026. This data indicates an apparent demand among borrowers for this secured credit form.

This fact can be attributed to its affordability in terms of loan against property interest rate and provides easy accessibility. Applicants need to fulfil basic eligibility and documentation to avail funds for big-ticket expenses. Moreover, a Flexi loan facility makes it ideal for individuals facing difficulties paying medical bills, wedding expenses, travel costs, etc.