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March 2020
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The loan against property is the best way to raise the needed finance to buy a dream home. Property loan is available in different interest rates varying from 8.80 % to 15% depending on the loan amount, a credit score of the borrower and tenure selected. Different financial institutes offer loans on the varying value of the property, occupation and repayment capacity. Higher the loan amount higher will be the interest rate. Property loan interest rate can be negotiated by the borrower and can choose the best lender from the available options. There are different criteria for salaried and self-employed people.
A low interest rate puts fewer burdens on the EMIs you pay monthly. Property loan interest rate depends on the eligibility criteria and from customer to customer. When an individual maintains a good credit score, the loan is available easily with minimum documents and at affordable interest rates. Bajaj Finserv assures that whatever property loan you require will be approved once the required formalities are fulfilled. Just compare the interest rates and you will contact experts to finalise the best deal as per your loan needs, repayment capability and earnings in future. The process of loan approval is easy and depends on your understanding with the lender.
Additional Read: Mortgage Loan Interest Rate – Quick Guide on Lower Interest
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Below should be the common mortgage loan eligibility conditions to get approved for a loan against property:-
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