How Can A Person Get A Loan Against Property In Delhi? - Loan Trivia


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Thursday 18 August 2022

How Can A Person Get A Loan Against Property In Delhi?

loan against property in Delhi

Delhi enjoys several benefits as the capital city of India and the central location. One of the benefits is the wide range of financial services available for business establishments and city residents. 

Several leading financial institutions offer a loan against property in Delhi to help the residents find their professional and personal expenses. 

Read on to know more about this type of property loan.  

Features and benefits of Loan Against Property

Following are some of the features of Loan Against Property: 

  • Individuals can get a higher loan amount against their mortgaged property.

  • As it is a long-term financial commitment, loan against property interest charges is considerably lower. 

  • Unlike personal loans, a loan against property offers a maximum repayment tenor of 15 years. Borrowers can use an online Loan Against Property EMI calculator to know the instalments and plan their expenses accordingly. 

  • A loan against property balance transfer facility allows candidates to reduce their EMIs by transferring the outstanding loan amount from one financial institution to another. 

  • Individuals can get the funds against both immovable and commercial assets. 

Eligibility criteria for loan against property

Individuals can apply loan against property online if they meet the following eligibility criteria: 

  • He/she should be an Indian resident or an Indian SME 

  • Candidate must have a steady monthly income 

  • He/she must have a CIBIL score of more than 750

However, lenders do not give much importance to CIBIL score as a loan against property in Delhi is a type of secured loan. Individuals who meet the eligibility criteria and produce the necessary documents required by the lending partner can easily get the funds within a minimum turnaround time. 

Read More: 10 Eligibility Factors For Obtaining Loan Against Property

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