A loan against property is an amount of money that an individual can borrow from a bank or NBFC by mortgaging his / her property. The property will be kept as security against the money advanced and the borrower have to pay monthly EMI’s for the agreed Tenure which can be maximum up to 20 years.
A loan against property product includes various other loan types which are generally everything other than Home Loan or Loan for Residential Purchase. The money advanced can be used for expansion of Business, Purchase of Commercial or Industrial Property, Working Capital for Business, Debt Consolidation or for any other purpose.
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This is the loan that one takes against the market value of his / her residential / commercial / Industrial property.
This is the loan that one takes for purchase of property other than residential property and the funds are generally given to Seller at the time of Purchase.
This is a hybrid loan that one can avail wherein the banks provides the money advanced in a overdraft account which is linked to Loan account and the interest is charged on the utilized balance of overdraft account.
This is the loan which is provided by considering the future rentals of the property given as security to banks and the EMI’s are linked to expected monthly rentals.
All loans are not created equal, personal loan has become a great option for people to use.
Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a loan against Property.
Maximum age of applicant at loan maturity: 60 years
Minimum Net Monthly Income: Rs 50,000
Applicant should have the bank specified credit score.
If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.
Please Check the Bank’s Official website for the comlete informaton as some bank charge for the Foreclosure of Loan whereas some don’t.
Yes we do offer the Refinancing of the loan
Documents Required are as follows:
Office No. 524 6th Floor West End Mall, Janakpuri near Janakpuri West Metro Station, New Delhi-110058.
Now apply for a Loan Against Property online, All you need to do is provide your details below application form.