If you have your own house, a
flat, apartment, or any other property, you are blessed. You can use those
properties as collaterals to avail secured loans in India. Though the amount
varies from one lender to the other, the process of availing loan against
property is quite simple and easy for all. Rupee Station offers the loan against property to its clients
and customers at the lowest interest rate and flexible EMI option.
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| Loan Against Property in India |
Loan against Property (LAP) is a
type of loan where you need to keep your commercial/residential property as
collateral. While doing this, it makes a secured loan in sight of the lender and
promises the guarantee of repayment by using the property as the security.
Rupee Station is the online
lending provider and provides you the entire easy process hassle-free
documentation along with the cheap rate of interest, ranging from 10 to 15% within
the tenure of up to thirty years. Let’s check that how we need to be eligible
for obtaining the loan against property or what type of the properties can be
kept as a mortgage:
What are the requirements of eligibility criteria for availing the loan?
Availing the loan for the
property can be availed by anyone, no matter that he or she is self-employed, a
salaried individual, or even a young professional. All you need to show your
regular income along with having your name in a property. Apart from it, your
credit history, bank assets or even the value of your property will also be
considered.
What types of the properties are required to keep as Mortgage?
Whether it is a piece of land, own
constructed house, any commercial property, owned residential property &
much more are coming to the option for kept as a mortgage. So, in this matter,
you will be easily able to get your loan approved of your required amount.
Points to consider before availing the Loan against property
- You must do the EMI payment on-time for maintaining a good CIBIL score in the future.
- The shorter the tenure, the better it is. So, make sure that the tenure is shorter
- Just in case, if you are taking a huge amount of loan, then we would recommend you to take the insurance cover as well.
Amongst all such loan providers,
the best option to avail loan against
house or any other property is Rupee Station. Here, you get a plethora of
benefits so that you can enjoy a quick and easy loan approval process.
