A planned personal loan is often the smartest way to solve a financial problem or overcome a crisis. Any of your pending important work can be easily completed by taking up a personal loan.

What is loan against property?

Loan against property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. The loan is given as a certain percentage of the property‘s market value, usually around 40% to 60%.

Loan against property can be availed against commercial property and residential property for either business activities or personal activities.

Eligibility criteria for loan against property

Loan amount will be determined based on repayment ability. Repayment is ability is decided on the basis of age, income, educational qualification, spouse‘s income, savings, number of dependants etc. Eligibility of loan cannot exceed 85% of the property cost.

Tenure of the loan

Repayment of loan is possible for over a period of maximum 15 years but may vary with bank. Repayment will not extend the age of 60 years or retirement.

Fees charged for loan against property

Mostly 1.5% of the loan amount is charged as processing fee.

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Delhi Home Loan
Delhi Home Loan
Delhi Home Loan