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March 2020
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Bangalore has slowly emerged as the front-runner in South India’s property market with housing demand and supply in the city being higher than any other metro, especially, during January-March period, according to a recent report. Increased commercial activity, infrastructure upgrades, positive buyer sentiments, and improved job opportunities in the city have given a major boost to Bangalore's housing market. Owing to this trend leading NBFCs have flocked to the city offering attractive and hassle free loan against property to potential borrowers. The Loan Against Property Interest Rates is quite low towards other loan available. The process to apply is pretty simple too as the borrower can apply online by filling up a simple e-form. Upon verification, the borrower can avail instant loan approval and quick disbursement to cater to their financial obligations.
High Value Loan Eligible borrowers can avail high value loan up to Rs. 3.5 crores. But they must ensure that the property they pledge is free from any litigation and does not have any existing loan running on it. This way, they can avail up to 60-70% of the loan provided by the lenders on the property. Flexible Repayment Tenure Applicants can choose flexible tenure to easily pay off the loan. These range between 2 to 20 years and the borrower can part-prepay or prepay their loan anytime, at minimal charges. In addition, lenders offer the loan on Flexi Loan facility. This is a unique feature which lets the applicant borrow as per their needs from the loan amount sanctioned on a daily basis. Interest is charged on these daily withdrawals which helps to lower the EMIs by up to 45% and easily manage their finances. Additional Read: How to Check your Eligibility for Loan Against Property in Bangalore
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