Products & Services
Loan Against Property
Rs 10 Lakhs / PersonGet Latest Price
|Repayment Duration||15 years|
|Bank Type||Individual Lender, Bank|
The term 'loan against property' refers to a situation in which the borrower takes a loan from a bank or financial institution where the security for the loan is a property that is owned by the borrower. If you own a valuable asset in the form of house (self occupied, rented or vacant) or a commercial property you can go for a loan against property. Loan against property is a multi-purpose loan with longer tenure and lesser rate of interest. It would like to leverage your property without giving it on rent or selling it?
You can now take a loan against property against your residential or commercial property, to expand your business, plan a dream wedding, fund your child's education and much more. Loan against Property is to meet your business or personal needs.
Loan against Property solutions will help you to unlock the hidden value of your property. With Loan against property you can now fulfill any of your personal or business needs. What's more, this loan can be repaid comfortably over as many as 15 years. Loan against Property / Mortgage loan is obtained by the way of mortgaging the asset with the lending institute.
Loan against property is a very good borrowing option as there are several advantages of a property, which include possibility of appreciation in value, being in the nature of a fixed asset, income earning potential and so on. This allows the best use of the property that is owned and at the same time will enable the raising of funds required for various purposes.
Also, a loan against property comes with a low interest rate compared to that of a personal loan or home loan. Proper use of the funds will ensure that the maximum benefit is taken from the position. The value of an asset or property should be enough to qualify the sanction of the loan amount as needed by the borrower. Loan against Property (Mortgage loan) is opted for when the amount required is considerably more and cannot be raised by the means of unsecured loans and the repayment period is comparatively more than 5 years. Generally the properties having appreciating value in market are considered good for mortgage Loan like Residential or commercial premises etc.
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