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Loan Againts Property

Simply put, a loan against property is what it actually connotes -- a loan given or disbursed against the mortgage of property. This is unlike a personal loan, which is disbursed to an individual; no questions asked. The loan is given as a certain percentage of the property's market value (usually around 40 per cent-60 per cent). But the threshold amount too is generally defined by most lending institutions like say, Rs 200,000. This multi-purpose loan puts funds at your disposal to use as you wish. It unlocks the hidden value in the property you own.

Features at Glance

  1. Loans from Rs2 Lakh onwards depending on your needs
  2. Borrow up to 70% of market value of the property
  3. Flexibility to choose between an EMI based loan or an overdraft
  4. High tenure loans for ease of repayment.
  5. Attractive interest rates.
  6. Simple and speedy processing.
  7. Loan for salaried & self-employed individuals 

Advantages of taking a Loan Against Property: 

  1. Cheaper than Personal Loans: It works out to be much cheaper than a personal loans, which is usually issued at interest rates in the region of 16 per cent-21 per cent.
  2. Longer Loan Tenure: The tenure for a Loan Against Property is usually longer than that for a personal loan. Generally, LAP is given for a maximum tenure of 10 years. 
  3. Lower EMI: Since the rate of interest is lower, many times, LAP Equated Monthly Installments (EMI) turn out to be cheaper than those under personal loans.
  4. Simple documentation and Fast Approvals: LAP being a secured Loan has comparatively faster approvals and minimal documentation.

Loan Against Property can be taken for following purposes:

  1. Expanding your business
  2. Get your child married
  3. Send your child for higher studies
  4. Fund your dream vacation
  5. Fund Medical Treatments

In nutshell, Loan Against Property is a secured multi-purpose loan with larger tenor and lesser rate of interest.

News Update

2012-03-22 06:23:58 Buyers Credit Interest Rate Fluctuations (Recent Scenario)
2012-03-27 11:22:43 LIBOR (London Inter Bank Offered Rates)
2012-03-21 06:06:31 Achievements

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