Gurgaon City

Basic Facts about Loan Against Property

Loan against property is one of the best solutions for situations where you need fast money. This loan is structured for individuals looking for financial help against a mortgage. Usually, people apply for at some unexpected financial emergency. But you can use it for other purposes. Loan against property in Gurgaon is a great way to boost your business or to improve your education or education of your children. People are even using the loan to finance the wedding or other celebrations.

Why you should think of getting this Loan

When you apply, the possibilities are endless. When you decide to apply, you will see that application is simple, and the results are quick. Because of this, loan against property can help you when you need the money as fast as possible. To apply, you will just need to submit the following documents required to process the loan:

  • Income Proof
  • Address Proof
  • PAN Card Copy
  • 6 Passport-Sized Photographs

Probably the biggest advantage of Gurgaon loan against property is the fact that you will get the money and keep your property. Your property is a security for the loan, but all you have to do is make timely repayments.

Things to keep in mind if you decide to apply for the Loan

Every bank that you can find in India has its own loan against property scheme. Each scheme brings different features, so you will have to inform yourself about these loans. This is the best way to find the best offer for yourself.

You can check your loan eligibility with our free online tools – Loan Against Property Eligibility Calculator and Loan Against Property EMI Calculator.

Gurgaon Interest Rate for this Loan Scheme

As you already know, loan against property Interest Rates can differ from bank to bank.. Here are some examples of the Interest Rates that banks for loan against property in Gurgaon can offer you:

1. State Bank of Hyderabad: Interest Rate is 12.95%
2. HDFC Bank: Interest Rate begins from 11.05%
3. Central Bank of India: Interest Rate begins from 12.2%

Gurgaon banks with good Loan Against Property Schemes

When you begin the search for a loan against property scheme in Gurgaon, you need to know where to start. These banks are offering schemes with good features. They are some of the major banks so you can check them first:

1. ICICI Bank:

  • Interest Rate is 10.5% onwards
  • Maximum loan tenure is 10 years
  • Maximum loan you can borrow is 10 crores

2. State Bank of India:

  • Interest Rates begin from 10.5%
  • Maximum loan tenure is 7 years
  • Processing fee is 0.229%

3. State Bank of Patiala:

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

4. Canara Bank:

  • Interest Rate begins from 12.35%
  • Maximum is loan tenure is 10 years
  • No processing fee

You can apply for loan against property in Gurgaon in less than 2 –minutes at our website in a 5-step process. Log in to the loan page, fill in the application form, submit your documents, choose your loan scheme, click ‘Apply’.

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