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Apply OnlineKnow your loans: Loan against property

- Loan Against Property Guide
- Mar 21, 2016
- VIEWS: 2558
A ‘loan against property’ is a personal loan given against the mortgage of one’s property. This loan is provided at a certain percentage of the value of one’s property, generally between 40 to 60 percent of the property value. These loans are most usually taken against residential properties (house/flat/property) which could be self-occupied or rented out. Loans taken against properties are usually personal loans which can be taken to expand ones business, to provide funds for events such as marriages, further education fees, funding a vacation or funding medical treatments.
The eligibility criteria for a loan against property is similar to that of normal loans in the sense that the lender will check your income, savings, debt obligations, the cost of your property, your credit score and your repayment track record. Interest rates for Loans against property range from 12% to 15.75%. These loans are secured loans as the repayment of the loan is guaranteed and the maximum loan tenure for loans against property is 15 years.
These loans are usually preferred over personal retail loans which charge an interest rate of 16% to 21%. Personal loans are also unsecured loans and the eligibility of the loan is determined by the applicant’s income level. Personal loans also have a lesser tenure at just 5 years making loans against property a more feasible option often. Loans against property are useful when you need to acquire funds with a low interest rate and a long tenure to repay. These loans are quickly stealing the limelight from personal loans due to the many advantages and the flexibility that it offers.
Related Articles:
- Rules to Follow While Taking a Loan against Property
- Beginner’s Guide to Loan Against Property (LAP)
- What you need to know: Loans against Property
The post Know your loans: Loan against property appeared first on Indiabulls home loans.

Difference between home loan and loan against property
A home loan is a high-value loan. It is also one that requires quite an elaborate process in which the buyer has to familiarise himself with several jargons and financial terms.
- Loan Against Property Guide
- May 24, 2019
- VIEWS: 9121

Rules to Follow While Taking a Loan against Property
Do you need a lump sum amount for your business? Have you considered leveraging the value of your property to meet such fund requirements? A loan against your home or office is an excellent option... The post Rules to Follow While Taking a Loan against Property appeared first on Indiabulls home loans.
- Loan Against Property Guide
- Nov 22, 2018
- VIEWS: 10769

9 Factors Affecting Your Eligibility for a Loan Against Property
When it comes to taking major steps in life, the first thing that comes to your mind is ‘How would you arrange for the finances?’ Every new phase of life, whether personal or professional, involves... The post 9 Factors Affecting Your Eligibility for a Loan Against Property appeared first on Indiabulls home loans.
- Loan Against Property Guide
- Jul 25, 2018
- VIEWS: 10335
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