Loan Against Property
One of the greatest and the fruitful asset you hold is your property. Make the best use of your asset to fulfill your dream by taking loan against your property. Loan Against Property is amongst the easily available loan options and the best part is that you can get heavy cash instantly in a short span of few days only. If you own or any of your family member own a property then you can easily get up to 5 Crore as a loan in minimum of 2 days.
You can easily apply for the Loan Against Property at Rupee Station just by filling up a loan application form and we will take care of the further proceedings to make the loan amount available to you instantly. This loan is available against the wide range of property including both commercial and residential properties.
Loans against property fall under the category of the secured loans wherein the property is kept as a collateral or security with the bank. In these types of loans, the borrowers only pledge the property with the bank but the ownership right still remains with the owner. The amount of loan sanctioned in this category is dependent upon the value of the property.
WHO ALL ARE ELIGIBLE TO APPLY FOR THIS LOAN?
So, here is your answer! Anyone whether professionals, employees or self-employed individuals who own a commercial or a residential property on their name or in the name of parent/spouse/children/siblings can apply for a Loan Against Property. The best part is that there is no restriction on usage of funds received against this loan; you can use this loan to renovate your house, expand your business, bear marriage expenses and a lot more.
WHICH TYPES OF PROPERTIES CAN BE KEPT AS A MORTGAGE?
Almost all types of property can be kept as a mortgage for taking the loan. However, generally, the loan is taken against a self-occupied property, rented property, or even a piece of land. So, no matter which type of property you own, you can easily apply for the Loan Against Property. It is to be noted that many of the financial institutes require that your property should be insured for fire and numerous other calamities. In Loan Against Property, it is to be noted that if the property is owned by two people then both of them needs to be the co-applicant for the loan.
WHY CHOOSE LOAN AGAINST PROPERTY?
If you are in need of funds in bulk then Loan Against Property is the best loan option to opt as you can easily get the funds amid 5 lacs to 5 Cr. such high amount of funds is not easily available with other types of loan.
In addition to the huge amount of funds, there are various other reasons to opt for a Loan Against Property, some of the reasons are listed below, have a look –
- It is considered as one of the cheapest options for a loan as the interest rate ranges amid 12% to 15%.
- The repayment tenure is quite flexible up to 15 years.
- Available even if your credit score is too bad as it is a secured loan