Loan Against Property Introduction and Details
Loan against property is a specially designed loan, which can help you in financially tough situations. You can start a new business or expand your existing business. Noida loan against property can provide you this. This amount of money will cover all your expenses and you will be back in the saddle in no time.
Before apply for loan you have . If you fail to repay, the bank will have to use your property to cover the loan expense. That’s why you need to plan your repayment and to organize your budget.
Why is it good to take this Loan Scheme
This loan can give you enough cash that can get you back on your feet. It can also show you an opportunity to make some business progress. The possibilities are endless. The application process is very simple, and you will get results in no time. This helps when you find yourself in an emergency. To apply, you just need to deliver needed document.
Probably the best thing about this loan is that you can keep your property and get the loan money. Yes, your property is a security, but in a great majority of cases, people stay in their homes. A proper organization of the budget is all that you need.
Guidelines that will help you to apply
Every bank in India can offer you this loan scheme. However, each scheme that you can get is different, so you will have to make some online research before you apply.
The application process is simple. It will require you to submit documents required to process the loan. Below are the important documents required for a loan against property:
- Documents of the collateral property
- Income Proof
- Passport-sized photographs
- Address Proof
- ID Proof
Interest Rates in banks of Noida
Loan against property Interest Rates are flexible, but they have a distinct range that goes from 12.00% to 15.75%. Each bank respects this situation and constructs the schemes within that range.
In Noida, Interest Rates are:
1.Andhra Bank: Interest Rate is 12.4%
2.Canara Bank: Interest Rate is 12.4% onwards
3.Punjab National Bank: Interest Rate is 11.25% onwards
Noida banks with good Loan Against Property options
Banks for loan against property in Noida have interesting schemes:
1. Dena Bank:
- Interest Rate is 11.1% onwards
- No pre-closure charges
- Maximum loan tenure is 7 years
2. Andhra Bank:
- Interest Rate is 12.4%
- Maximum loan tenure is 10 years
- No pre-closure charges
3. Axis Bank:
- Interest Rate begins from 12.75%
- Maximum loan amount is 5crores
- Maximum loan tenure is 15 years
4. Karnataka Bank:
- Interest Rate goes up to 13.25%
- No pre closure charges
- Maximum tenure is 15 years
Below is a 5-step process to apply for a loan against property at Paisabazaar website:
- Calculate your eligibility using the Loan Against Property Eligibility Calculator
- Log in to the Loan Against Property online application page and fill in the required details.
- Submit your documents online.
- Select the loan schemes as per your requirement and click ‘Compare’
- Choose the most suitable loan scheme and click ‘Apply’