HOW IS LOAN AGAINST PROPERTY BENEFICIAL FOR YOU?

Want to buy that branded car? Or planning to get a new home somewhere
in Goa? Or planning to expand your business into a more corporate
atmosphere? So much to do, but one thing constantly stops you from going
further in your life. It is the financial problems which you face in your
daily life. These financial problems can be the most stressful thing which
happens to you.  But, don’t freak out as we have an option for you, which
the loan against property. Want to buy that branded car? Or planning to get a new home somewhere
in Goa? Or planning to expand your business into a more corporate
atmosphere? So much to do, but one thing constantly stops you from going
further in your life. It is the financial problems which you face in your
daily life. These financial problems can be the most stressful thing which
happens to you.  But, don’t freak out as we have an option for you, which
the loan against property.

Haven’t thought of taking a loan against property or haven’t heard about
it before or thinking that how could you execute it or maybe how will it
be beneficial for you? Well the answers for all your doubts will be
answered. So, a loan against property is a secured type of loan, which
involves collateral as a security purpose. Here, you will be providing your
owned residential property or commercial property to the specific bank in
which you’ll be applying, as a mortgage. These loans are quite easy to
avail, as they required minimum documentation, and the interest rates
which are provided, are quite lower than other loans. As easy as these
loans are seen, nut they come with certain guidelines which you need to
make sure before applying like, the property which you are mortgaging
should be owned by either you or family, another thing is that the
property should be in a good condition, and also it should be registered
with the government.
Now, let’s see how it can be beneficial for you.

? Firstly, these loans are easy to get from various banks and NBFCs.
As these are secured loans, so bank feels safe to provide you with
these kinds of loans as they get the benefit of having your property
as collateral.
? Secondly, in this loan you get the benefit of prepayments, which
means that you can close your loan amount whenever you want
without any extra charges. As in these kinds of loans, banks
generally don’t ask for charges while closing loan against property.
? Thirdly, you get the benefit of having the access of lower EMIs. As
the tenure for loan against property is high, and the interest is low,
you get the benefit of availing lower emi’s. This option is beneficial
for those people who can’t pay high amount of Emi’s. But people
who can pay high amount of Emi monthly can opt for shorter tenure
also.
? Fourthly, the longer the tenure the easy it gets for those who can’t
pay off heavy amount of emis monthly.  The tenure for these loans
can up to 10-15 years depending upon the lender.

Loan against property is a loan, which will help you to fulfill all the plans, you
wished for but couldn’t execute due to financial issues. Now, you can
easily plan your dream vacation, or send your child to study abroad.


By: Mayank Sharma

loan against property is a loan, which will help you to fulfill all the plans, you wished for but couldn’t execute due to financial issues

Article Directory: http://www.articledirectoryusa.com

Source: http://www.articledirectoryusa.com/article/category/finance/how-is-loan-against-property-beneficial-for-you/

Article Tags: loan against property , Loan against plot

Submitted On Feb 16, 2019. Viewed 54 times.

blog comments powered by Disqus