Complete Guide on Loan Against Property and its Benefits

 If you have the required loan against property eligibility, you can apply for a large amount and cover your different needs. 

The loan against property is one of the most applied financial solutions in India. It is because it comes with so many benefits. 

On that note, it would be good to know about the benefits of the loan against property in this short post! 

1. A significant amount 

One of the best advantages when you apply for loan against property, is that you can get a considerable amount of up to Rs.5 crores. The final loan amount depends on your eligibility and the internal policies of lenders. You can use the loan against property calculator for eligibility and know an amount your income can support. 

2. Quick processing 

Once you apply for loan against property, leading lenders in India process your application quickly, especially when you submit all required documents. The time taken could be as little as up to 24 hours. 

3. Faster funds disbursal 

After you have the loan approval, top lenders take only up to 72 hours to credit the loan money into your bank account. 

4. No restrictions on funds usage 

You are absolutely free to use the loan money for anything as per your needs and without restrictions. If your purpose of using a loan amount is legal, lenders have no issues with how you use the loan amount. 

5. A longer repayment tenor 

You don’t have to worry about repaying the loan money over a smaller tenor and hurt your expenses. It is because it is possible to spread the money over a flexible tenor of up to 18 years and pay in smaller EMIs. 

If you need a considerable amount to help you cover needs at a lower rate of interest, then you can go ahead with the loan against property application.