Loans in Details

Loan Against Property

Loan against Property is a secured loan. If you own Residential or Commercial property you could utilize the value of the same by opting for mortgage loan. The property papers are retained as security for a loan at a much lesser rate than personal loan.

The ownership of the property is retained by the owner. In case of inability to repay the loan the property could be disposed of to repay dues.

Loan against property can be taken either for personal or business purpose like working capital, business expansion, repayment of expensive loans etc. Option for an overdraft facility is also available.

Loan amount could range from Rs.10 lakh to Rs.50 Cr.

Loan tenor could extend up to 15 years.

Eligibility depends on income and the current market value of the property.

Rate of interest could be in the range of 9.5 % to 10.5 % on monthly reducing basis

Various types of loan against property are :

1. Loan against residential property
2. Loan against commercial property
3. Loan against Residential property without income.
4. Lease rental discounting
5. Loan for real estate developers