AuthorAlisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health. Archives
March 2020
|
Back to Blog
Among a host of loan options available to potential applicants, loan against property is considered quite easy and beneficial. There are several reasons for this belief as we will discuss later. But one thing the loan against property in Delhi offers is an option to let you liquify your fixed assets without having to break/withdraw them. For instance, when you pledge your fixed asset (your property) for the loan you acquire funds against it without selling it off, placing it on rent or auctioning it. Besides, this security lets you earn the trust of your lender too. Here are some other essentials of the loan you must be aware of. Loan Amount This is a significant method to acquire funds as you can avail up to 60-70% of the property value as loan. Where, salaried individuals can get a high loan amount up to Rs.1 crore, while self-employed individuals can avail a loan of up to Rs.3.5 crores. All-purpose Loan The loan money can be used to manage several financial obligations such as personal or business. Mostly because lenders do not scrutinize the usage of the loan and it is therefore considered an all-purpose loan. The Interest Rates on Loan Against Property is quite low in comparison to other loans available. Longer Tenure
You can choose longer duration to easily pay off the loan. This is usually 2 to 20 years for salaried individuals and up to 18 years for self employed professionals. Easy Loan Management You can track your loan repayments, maintain loan certificates and other documents at one place and much more. Potential applicants can easily apply for the loan online and manage it too. The account can be accessed from anywhere, at anytime. Also Read: Is Opting for an Instant Loan Against Property in Delhi a Wise Choice?
0 Comments
Read More
Back to Blog
Knowing About Loan Against Property9/7/2018 Loan against property is a cost-effective method of liquifying your fixed assets. It is a secured loan and therefore has its own perks. It is a hassle-free loan option that gives you access to funds without having to break your investments. The Loan Against Property Interest Rates opts for the best for applying newer variations. Let’s know more about its benefits. > It is a secured form of financing as you pledge your fixed asset or property as collateral towards the loan. This assures the lenders that you will be taking care of the repayments diligently as failing to do so may lead your property being sold or auctioned; for that is how lenders may recover their outstanding loan amount. > You can apply for the loan online by simply filling up the application form at the lender’s official website. Upon verification of paperwork they can avail loan up to Rs. 3.5 crores, for a flexible tenure of 2 to 20 years and at affordable interest rate.
> The loan account can be easily managed online. Just request for login details from your Relationship Manager and manage your loan from anywhere, at anytime. Lenders do not scrutinize the use of the loan and it can be used to cater to several personal and business financial obligations. But, to avail a preferable loan amount ensure to maintain a good credit score of 750+ or more and a consistent income source such as a stable job. You may get to negotiate loan terms with the lender and pitch for higher loan amount and lower interest rate if you have a healthy credit score. As then lenders will be willing to trust you and help you meet your financial needs. Additional Read: Is Loan Against Property A Good Choice for Wedding Preparation? |