Indore City

Basic depiction of Loan Against Property scheme

When you find yourself in a difficult situation, and you need some financial boost, a loan against property can provide you with the needed money. People usually apply for this loan because of urgent purposes. On the other hand, it can also help you with important projects, such as starting a new business or a business expansion. A loan against property is a secured loan, where the bank pays you the amount you applied for by keeping a collateral property. You simply have to repay the bank within the repayment tenure in monthly installments at the applicable interest rate.

Benefits of Loan Against Property

Loan against property will help you when you need help. This money will cover any of your expenses in critical times. On the other hand, you can use it to improve your business. With a loan against property in Indore, you can get the loan amount you applied for while keeping your savings intact. Also, this loan will help you improve your finances as a monthly repayment method will help you manage your finances better.

Loan Against Property details that you need to know in order to apply

You can find different loan against property schemes in Indore. Almost every bank can provide you with one. Below are some of the important documents required to process the loan:

  • ID Proof
  • Address Proof
  • Income Proof
  • PAN Card details
  • 6 Passport-sized Photographs

Interest Rates in Indore banks

Loan against property Interest Rates can differ from bank to bank. These are the examples of the Interest Rates that banks for loan against property in Indore can offer:

1. Kotak Bank: Interest Rate is 11% onwards
2. City Union Bank: Interest Rate begins at 14.75%
3. South Indian Bank: Interest Rate is 13.6% onwards
4. HDFC Bank: Interest Rate begins at 11.35%

Indore banks with interesting loan schemes

You can get various loans against property in Indore. Some of them are:

1. Corporation Bank:

  • Interest Rate is 11.95% onwards
  • Maximum loan tenure is 10 years
  • There is no margin for regular clients

2. ICICI Bank:

  • Interest Rate starts from 11.35%
  • Maximum loan tenure is 10 years
  • The loan amount ranges from 10 lakh to 10 crore

3. Dena Bank:

  • Interest Rate begins at 11.15%
  • The possible amount that you can take ranges from Rs 2 lakh to Rs 500 lakh
  • 7-year tenure is possible

4. State Bank of Patiala:

  • Interest Rate starts from 14.35%
  • Maximum tenure period is 10 years
  • Processing fee is 0.25%

If you have decided the loan amount for your loan against property, then you can for it in less than a minute at our website. Below are some of the basic details you have to provide:

  • Your personal details
  • Value of your property
  • Desired amount of the loan
  • The state of your budget

You can even use our free online tools to calculate your EMIs- Loan Against Property EMI Calculator and Loan Against Property Eligibility Calculator. 

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