A loan against property is one of the easiest ways to regain your financial security. A loan given or distributed against the mortgage of property. The loan against property interest rates given to a certain percentage usually around 40-60%.
Let’s take a look at some of the key attributes of property loan and how you can go about getting one.
1. Features and Benefits:
2. Eligibility Criteria:
3. Documents Required?
Taking a property loan is a viable way to regain financial stability. So, some of the important things keep in mind while applying for loan against property or sign up any agreement.
Let’s take a look at some of the key attributes of property loan and how you can go about getting one.
1. Features and Benefits:
- Foreclosure
- FlexiSaver
- Part Prepayment Facility
2. Eligibility Criteria:
- You should be an Indian resident
- You should be minimum of 25 years of age when the loan gets sanctioned
- You should be a salaried or a self-employed professional who has a regular source of income
- Maximum age limit of the loanee for salaried individual is 60 years and self-employed 70 years
- You also need to have a good CIBIL score.
3. Documents Required?
- Identity Proof
- Income Proof
Taking a property loan is a viable way to regain financial stability. So, some of the important things keep in mind while applying for loan against property or sign up any agreement.
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