Faridabad City

Basic info about loan against property

Are you in need of some fast financial help? Do you want to invest in your business, but you don’t have the complete amount? Loan against property schemes can help you to deal with these problems.
Faridabad loan against property is a loan that is based on the value of your property. You will use your property as a security for the loan. The money that you will get will amount up to 60% or 70% of your property. However, be regular with repayments or the bank will take your property to cover the expenses of the loan.

Why you have to consider taking this loan

When you decide to apply for a loan against property, you should have in mind that the process is simple, and you will get results really fast. This is a good thing to know when you find yourself in an emergency. To apply, you just need to submit the following documents:
  • Income Proof
  • Address Proof
  • ID Proof
  • PAN Card Copies
  • 6 Passport-Sized Photographs

Further Details About Loan Against Property

When you decide to take this loan, you should know that there is a great number of loan against property schemes in Faridabad. You should consider the below points before applying for your loan scheme:
  • Loan Tenure: The interest rates that is applicable on your loan installments that are proportional with the loan tenure. By choosing longer loan tenure your interest rates on the loan reduce as compared to the interest rates for shorter loan tenure.
  • Credit History: A good credit history with higher score makes you more likely to get your loan approved at a lower interest rate.
  • Loan amount: Decide the loan amount after doing sufficient research about your own finances. The bank does the payment but you have to repay the bank at an applicable interest rate else bank has the rights to repossess the collateral.

Interest Rates that you can get in banks of Faridabad

Each bank has different schemes for Loan against property and different interest rates for each scheme. Some examples of loans against property in Faridabad are:

 

1. Indian Overseas Bank: Interest Rate begins from 12%
2. Punjab National Bank: Interest Rate begins from 11.05%
3. Allahabad Bank: Interest Rate starts from 14.95%

Faridabad banks with good loan against property schemes

The banks for loan against property in Faridabad can offer you some good schemes:

 

1. Andhra Bank:

• Interest Rate is 12.4% onwards
• Maximum loan tenure is 10 years
• Third party guarantor required

2. Central Bank of India:

• Interest Rate begins from 12.2%
• Maximum loan tenure is 10 years
• Processing fee is 0.50%

3. Corporation Bank:

• Interest Rate is 11.80% onwards
• The maximum tenure is 10-year tenure
• Third party security is required

4. State Bank of Patiala:

• Interest Rate starts from 14.5%
• Maximum loan tenure is 10 years
• Processing fee is up to 0.25%


5-step process to apply for loan against property online at our Paisabazaar.com website:
 
  • Log in to loan against property page
  • Fill in your personal details and loan requirements
  • Submit the scanned copies of the documents required
  • Choose your loan scheme as per your needs
  • Click ‘Apply’

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