Know About Loans Against Property - Loan Trivia


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Thursday 28 April 2016

Know About Loans Against Property

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:
  • 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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