Jamshedpur City

An Introduction to Loan Against Property

Loan against property is a secured loan. Loan against property is loan option that can help you in your hour of need. This means that your property is a security for the loan, and it will be used to cover the loan expenses if you fail to repay the loan. However, this shouldn’t worry you because a great majority of users manage to repay the loan easily.

 

People use the money from the loan for different purposes. Some of them use the money for different emergencies, such as medical costs. Others use the money for education or business improvement.

What to expect when you apply for this loan

This loan can provide you with enough money to cover any expense. You can also use it to boost your business or in some other creative way. The banks in India understand their clients, and that is why the application process for this loan is very easy.

 

The banks have designed this document to be affordable to all citizens of India. You only need to submit required document for the application. The bank will tell you the results in short time notice. People usually apply for this loan when they are stuck in some difficult situation.

Things that you should know in order to apply

A loan against property scheme in Jamshedpur can provide you the financial support that you need to start a new business venture or expand an existing one. There are several good banks that can provide you with good loan schemes at affordable interest rates. It is a wiser decision to apply for a loan against property after doing a thorough research on the loan schemes available.

Interest Rates in Jamshedpur for this loan scheme

Loan against property Interest Rates are different for every loan scheme. However, they are all affordable and are lower compared to some other loans. Here are some examples of banks and Interest Rates for loan against property in Jamshedpur:

 

1. Corporation Bank: Interest Rate is 11.95%
2. ICICI Bank: The Interest Rates begins at 11.35%
3. Indian Bank: Interest Rate is 13.9% onwards
4. Oriental Bank of Commerce: Interest Rate is 11.65% onwards

Banks that can provide you with this loan scheme in Jamshedpur

Loans against property in Jamshedpur can be found in all respected banks of India. Some of the banks that you can use as a start for your loan search are:

 

1. Union Bank of India:
 

  • Interest rate is 12.2% onwards
  • Maximum loan tenure is 10 years
  • No pre payment charges
     
2. Allahabad Bank:
 
  • Interest Rate is 14.95% onwards
  • Maximum Loan tenure is 9 years
  • Maximum loan tenure is 2 crores
     
3. Canara Bank:
 
  • Interest Rate can go up to 12.4%
  • The longest possible tenure is 10 years
  • Processing fee is 1%
     
4. Corporation Bank:
 
  • Interest Rate begins from 11.95%
  • Maximum loan tenure is 10 years
  • 15% loan margin
 
To apply for loan against property in Jamshedpur, visit Paisabazaar.com and fill in the online loan application form. Simply provide your personal details and loan requirements. Our intuitive platform will show you a list of loan schemes. You can choose the best loan scheme in Jamshedpur based on your requirements. You can also use our free online tools- Loan Against Property EMI Calculator and Loan Against Property Eligibility Calculator.

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