Coimbatore City

Loan against property details

Financial emergencies never come expected. These situations can be very unpleasant if you are unprepared. Because of that, it is good to have a backup plan. Loan against property can offer you a way to deal with those situations.
The bank can pay you the loan in short time notice. The application process is designed in that way to give you fast results. The loan amount is based on your property, and you can get the loan in the value of up to 70% of your property. This is enough money to deal with any kind of problem.

Why you should consider taking this loan

The first benefit of the Coimbatore loan against property is the fact that you can get the money and keep your property. Yes, you are not under any obligation to leave your property when you take the money. If you follow the repayment rules, nothing bad can happen. People lose their property only because they are not organized and they don’t have a regular income to cover the expenses. Interest Rates move up to 16%, which is less than personal loan Interest Rates.

Details about this loan that is good to know

When you decide to apply for the loan, you only task is to deliver documents required to process the loan. Since there are so many loan against property schemes in India, the documents needed differ from bank to bank. Each bank has a different loan program, and when you choose one, you can check for the documents on their website.
There is one thing that you should do before you apply for a loan against property in Coimbatore. You should check if your finances are stable enough for the repayment of the loan. If you are not well prepared and aware of your financial possibilities, you can lose the house. That’s why a regular income is essential for a loan against property.

Interest Rates for loan against property

The range of loan against property Interest Rates goes from 12.00% to 15.75%. Each bank respects that.

 

Good examples of loans against property in Coimbatore are:

1. ICICI Bank: Interest Rate ranges is 10.05% onwards
2. South Indian Bank: Interest Rate is 13.5%
3. Karur Vysya Bank: Interest Rate begins from 12.9%

Coimbatore banks and their loan against property offers

The banks for loan against property in Coimbatore offer you various schemes:

 

1. Kotak Bank:

• Interest Rate begins from 9.50%
• Maximum loan tenure is 12 years
• You can take up to 55% of the property value

2. City Union Bank:

• Interest Rate can range from 14.5% to 16%
• Tenure period goes up to 5 years
• Margin is 60%

3. Federal Bank:

• Interest Rate is within the range from 13.48% to 14.88%
• Maximum loan tenure is 15 years
• Processing fee is only 0.50%

4. Tamilnad Mercantile Bank:

• Interest Rate is begins from 16.1%
• Maximum loan tenure is
• Processing fee goes up to 1%

Let’s look into the steps of applying for a loan against property at our Paisabazar.com website:

  • Log in to our loan against property page
  • Fill in your personal details and loan requirements
  • Submit the required documents to complete the online application form
  • Choose your loan scheme based on your requirements
  • Click ‘Apply’

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