Rajkot City

Introduction to Loan Against Property

Loan against property is a loan made to help you when you are found in a difficult financial situation. It is important to have a backup plan because you never know when the hard times arrive. This loan can help you to create this plan.

 

There are various reasons why people apply for a loan against property. Usually, a difficult financial situation is the one. On the other hand, this money can be used to boost your business or improve your education. There are many possibilities, and you just have to be organized and creative to get the best from this loan.

Advantages and Features of Loan Against Property

It is simple to get the loan. The bank will give you an immediate feedback after you submit the documents required to process the loan. This means that you can get the money fast to deal with your issues. Documents are required to get this loan. Every bank has its own document list, so you will have to do a small research to see what exactly you need. Just visit our Paisabazaar website or you can even download the app to apply for a LAP scheme. Follow a 5-step process to apply for your loan:
 
  • Enter your personal details
  • Provide your loan requirements
  • Submit your documents
  • Select loan schemes and click ‘Compare’
  • Select one loan scheme and click ‘Apply’

Information that will help you with loan application

Every bank in India has its own loan scheme. However, all schemes are different. Even the documents needed for application differ from bank to bank. You will have to do some research in order to see which option is right for you. The documents required for a loan against property in Rajkot are your Property documents, your Income proofs, Address proof, and your passport sized photographs.

Interest Rates in Rajkot

Loan against property Interest Rates can differ. Each bank has its own policy and each loan scheme functions on its own. Banks for loan against property in Rajkot offers a variety of rates:

 

1. Karur Vysya Bank: Interest Rate is 12.90%
2. City Union Bank: Interest Rate goes from 14.5% to 16%
3. Bank of Baroda: Interest Rate is 13.5%

Loan Against Property Schemes in Rajkot

You can get various loan against property schemes in Rajkot:

 

1.Union Bank of India:
 

  • Your Interest Rate can go up to12.40%
  • Loan tenure can go up to 10 years
  • No pre-payment fees
     
2.State Bank of Patiala:
 
  • Interest Rate goes up to 14.95%
  • Maximum tenure duration is 10 years
  • Processing fee is 0.25%
     
3.State Bank of Hyderabad:
 
  • Interest Rate rises up to 13.25%
  • Maximum duration of the tenure is 10 years
  • Margin is 25% of the loan
     
4.Corporation Bank:
 
  • Interest Rate goes up to 14%
  • The maximum duration of the tenure is 10 years
  • If you are a client of the bank, you don’t have to pay the margin

These banks should be your guidelines in the search for loan. However, you should also visit other banks that are not mentioned here. Each one of them has a unique a loan against property scheme, so you must check it.
There is another way to apply for a loan against property in Rajkot. You can visit Paisabazaar.com. This website allows you to apply online. It is a very efficient method that will save you time and energy. With Paisabazaar.com, you can apply for any loan that can be found in India.

 

The whole process is very fast and efficient. You won’t have any troubles if you use it. There is a special procedure for every loan. In order to get a loan against property in Rajkot, some information will have to be submitted.

Get Free Credit Report