Let us assume that you’ve bought a luxurious home recently and invested all your money in it. Then, all of a sudden you have a requirement at your business for a new machinery or an additional investment and since you have invested everything in home, you don’t have enough money to buy it.
What do you do now?
When you are pushed into those critical situations, you have an option to get you out of the pit with a financial assistance through ‘Loan against Property’.
Not sure, what is Loan against Property!
Loan against property is a secured loan lent against your property as security for the personal or business needs of the individual.
Below categories are eligible for this loan,
The purpose of your loan can be anything from business expansion, balance transfer & loan top-up and your loan size can be from 10 lakhs to 300 lakhs for a tenure from 3 years up to 15 years.
What is required to apply for this loan:
Proof of identification
Income proof (Recent Pay slip with all deductions / Form 16)
If self-employed, needs to submit income tax proof.
What is the features that helps you with your loan
Get a flexible repayment option
Service at your doorstep
Instant approval and speedy process
Easy Documentation with no more hassles
No hidden charges, the only charge is you would be charged for processing the loan.
When you mortgage your property, the bank takes less risk, which means you have the chance to get a good interest rate. Still, other factors like your credit score, regular income, and job stability may also impact your loan approval chances and the interest rate. Our loan to value is comparatively higher when comparing with other banks. Loan to value is nothing but the worth of your asset, which you are pledging.
Loans can help you to make your dream come true and plan your finances accordingly. Enjoy your fun banking with Equitas.