Agartala City

1. What is a loan against property

 


Loan against property in Agartala is a specially designed loan to help you in situations where you need huge sums of money instantly. With a Loan against property, your bank gives you the amount you applied for against collateral. You can use this money to meet larger expenses like setting up your business, buying heavy machines, wedding expenses etc. You can easily borrow this loan against any property owned by you (residential or commercial). Applying for a loan against property takes less than a minute at our Paisabazar.com website. The interest rates for loan against property in Agartala are not too high, starting at 10.6% for 15 years.


2. Why you need to avail a loan against property


The application process is easy, and you will get results in no time. This means that you can act immediately if something bad happens.

Below are some of the advantages of availing a loan against property:
 

  • Credit Boost: If you repay your loan against property to the bank on time, then your credit score will be higher. A good credit history makes you a more trustworthy borrower.
  • Financial Discipline: A loan gives a lot of financial discipline as you also have to repay the bank. However, you get money from the bank instantly whenever you apply. This allows you to maintain your money so that you can invest them to earn profits.
  • Saving Balance: By applying for a loan against property you reduce your worries of spending the whole amount from your savings balance.

3. Things to keep in mind when availing a loan against property

 

 


Each bank in India has its own loan against property scheme. Below are the documents required to process the loan scheme:
 

  1. Income proof
  2. Adress proof
  3. Id proof- Voter ID car, Driving License, Ration Card etc
  4. Income Proof
  5. Passport Sized Photographs
It is essential that you do a detailed analysis of your budget before you apply. This is important because it will minimize the repayment failure possibility.

 

 


4. A loan against property Interest Rates in Agartala


Loan against property Interest Rates are different for each bank. Banks for loan against property in Agartala can offer you following Interest Rates:
 

1. HSBC Bank: Interest Rate:

  • Regular – 9.55%
  • Smart – 10.05%

2. HDFC Bank: Interest Rate starts from 11.35%

 

 

3. Bank of India: BOI has a base Interest Rate of 9.70%, so there are two options:

  • Loan/Reducible overdraft – 1.50% over the base rate
  • Non-reducible overdraft – 2.00% over the base rate.

5. Top banks/institutions offering a loan against property in Agartala

 

 


Some of the loans against property schemes in Agartala are:
 

1. Citibank:

  • Maximum loan allowed is Rs Rs. 5 crore
  • Maximum loan tenure is 15 years
  • Loan is based on 70% of your property
     
2. State Bank of India:
  • Interest Rates is 11.6% onwards
  • Minimum loan amount eligible is Rs 25000
  • The loan is based on 60% of the value of your property
  • Maximum loan tenure is 12 years
  • Processing fees are only 2%
     
3. Axis Bank:
  • Interest Rate is 11.60% onwards
  • Minimum loan amount eligible is Rs 2,00,000
  • Maximum loan tenure is 15 years

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