Loan Against Property Details
We have all been in difficult situations, and we know that a good financial support can solve many things. The banks in India have organized a loan against property scheme that can be of great help during these situations.
Loan against property is a secured loan. The bank gives you the loan amount after considering a collateral against your loan amount. If you fail to repay your loan the bank has right to repossess your property to recover the loan.
What benefits can Loan Against Property bring you?
Meerut loan against property will provide you with enough money to get back on your feet. However, people also apply for other reasons.
When you decide to apply, you need to know that the application process is simple, and you will get results fast. This is a great thing to know, and it can be useful in an emergency.
To apply, you just need to deliver the documents required to process the loan. Banks in India know that emergencies need to be solved immediately. You will get feedback as soon as you apply.
The best thing about loan against property in Meerut is that you can keep both your property and the loan money. Your property is a security, but it is a rare thing that people fail to repay the loan money. You just need to organize your budget and nothing should worry you.
Loan Against Property features that you need to know
Every bank in India has made its own loan against property scheme. These schemes are all different, so you need to do a little research to get more details. After you have chosen your bank, you must check the documents that you need to submit. You can visit our Paisabazaar website to know more about loan against property schemes and compare them as per your requirements. The website also provides free online tools- Loan Against Property EMI calculator and Loan Against Property Eligibility calculator.
Interest Rates in Meerut for Loan Against Property
Loan against property Interest Rates have a distinct range that goes from 12.00% to 16.00%. Each bank respects this situation and constructs the schemes within that range.
Interest Rates in banks for loan against property in Meerut are:
1. Axis Bank: Interest Rate begins from 11.60%
2. Union Bank of India: Interest rate starts from 12.2%
3. Punjab National Bank: Interest Rate is 11.25% onwards
Banks in Meerut and their Loan Against Property Schemes
You can get loan against property scheme in Meerut from various banks:
1. Federal Bank:
- Interest Rate is 12.15%
- Processing fee is only 0.50%
Maximum loan tenure period is 10 years
2. Bank of India:
- Interest Rate is 11.2% onwards
- Maximum loan tenure is 12 years
If you want to apply, you need to have a gross monthly income of Rs 1 lac
3. Punjab and Sind Bank:
- Maximum interest rate is 11.8%
- Maximum loan tenure is 7 years
Processing charges are only 1%
- The maximum amount is Rs 5 crore
- Maximum loan tenure is 15 years
- No pre closure charges
Visit Paisabazaar.com to compare various loan schemes based on your requirements. You simply have to fill the online loan application and click ‘Apply’. The website will show you a list of loan schemes, you just have to select one which meets your requirements. The whole process will take less than 2 minutes.