What is Loan against Property? | |
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Loan Against Property Simply put, a loan against property is what it actually connotes -- a loan given or disbursed against the mortgage of property. This is unlike a personal loan, which is disbursed to an individual; no questions asked. The loan is given as a certain percentage of the property's market value (usually around 40 per cent-60 per cent). But the threshold amount too is generally defined by most lending institutions like say, Rs 200,000. This multi-purpose loan puts funds at your disposal to use as you wish. It unlocks the hidden value in the property you own. | |
Features at Glance
• Loans from Rs2 Lakh onwards depending on your needs
• Borrow up to 70% of market value of the property
• Flexibility to choose between an EMI based loan or an overdraft
• High tenure loans for ease of repayment.
• Attractive interest rates.
• Simple and speedy processing.
• Loan for salaried & self-employed individuals
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