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Loan Against Property - A Lucrative Prospects

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By Author: Suresh Chand Tanwar
Total Articles: 6
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How can we term a loan against property? Simply put, it is any kind of money that an individual borrows from a bank, while also giving the lending bank a kind of assurance, which can range from any tangible item, be it a land, or even a commercial asset or part of property like a built up property, or maybe the space of residence. The advantages of such loans can be availed by people living in cooperative societies as well. All they have to do is submit a NOC (No Objection Certificate) along with the application, which shall be signed by the cooperative society members.

It all begins when the loan is applied for by the user, the first and foremost thing done by the bank or financial institution is that they try and understand the net worth of the property in the market, which the borrower is keeping as a security or collateral with them. After that the institution follows up on the credit score of the applicant.

The reason a bank or the lending institution does this is because they don't want to suffer a loss, rather earn a profit from all their investments. Hence, people with a bad credit history and having many ...
... cases of defaulting are not considered in this regard. The amount in total taken as loan by an individual normally accounts to almost 75 percent of the price band of the market worth of the product. And in case of repayment, it is expected to be paid in monthly instalments.


The whole aspect of availing a loan against any type of property by applying directly online is a fantastic one. With low loan interest rates you can be assured to avail any kind of personal loan you want to and then use it for the purpose that deems fit to you. Therefore, an individual can take loans against property even when they want to increase their business or even set up a business. You can even take this loan when you want to send you children abroad for higher education, and for a brighter future, or maybe even when you want to organise a big fat Indian wedding.


The process of getting a personal loan against property is totally hassle free and extremely easy. For example, salaried professional just need to prove their residence, identity, and salary amount. It is a very easy process, just the right relevant documents can make the job very easy, and in no time shall the amount be processed and be credited into the borrower's account. While it's a bit different for businessmen and businesswomen, they need to show their residence proof, prove their identity, and also show a passbook along with a financial statement that will prove the certification and the tenure of at least two years.

Now coming to the best part, you also have the option to repay the amount as per your choice which may vary from a short time period to a longer period of time. Therefore, while applying you are given a choice to choose in between a long term personal loan, and a short term personal loan. And it totally depends on your repayment eligibility, which you should always check before you apply.

More About the Author

I did complete my computer engineering degree in India from Govt College. And I am interested in computer works. Currently I am working as a freelancer with sufinn.com. This company offers number of loans like personal loan and other short term loan.

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