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March 2020
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How To Easily Avail A Mortgage Loan?8/28/2018 Loan against property is a simple tool to liquify your fixed assets. Taken from reliable lenders it offers the benefits of instant approval and quick disbursal to cater to any immediate or unplanned financial obligation. It is not only simple to avail but lets you use the loan for personal or professional financial needs as loan providers do not scrutinize the usage of the loan. Let’s know more about how to avail the loan. Know the Eligibility Criteria The eligibility criteria differs from lender to lender. However, leading NBFCs offer an easy-to-meet Eligibility Criteria for Loan Against Property to help you avail the loan quicker. This includes, For Salaried Employees -
As a salaried professional you must hold stable employment for a minimum of three years in a private or public sector. You must be between 33-58 years of age. For Self-Employed Individuals - Self-employed professionals must have a business vintage of at least three years and must be between 25-70 years of age, at the time for applying for the loan. Qualifying Documents There is a list of basic documents needed by salaried and self employed individuals as given below. For Salaried -
For Self-Employed -
Age Factor Lenders have set an age criteria for salaried individuals which is 33-58 years and 25-70 years for self-employed professionals. It is taken into account while deciding the loan as lenders offer longer payback duration such as of 2 to 20 years for you to easily repay it off. Additional Read: HOW TO QUALIFY FOR LOAN AGAINST PROPERTY IN 5 STEPS?
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