One morning, when Gregor Samsa woke from troubled dreams, he found himself transformed in his bed into a horrible vermin.
Loan against property is also popularly known as a mortgage loan.
You can pledge your commercial or residential property to secure a high value loan. When you receive money loan against your property, you can use it for various business or personal purposes.
A salaried person or a self-employed person can avail loan against property ranging from anywhere near 5 lakhs to as high as 10 crore.
You can also choose to later transfer your loan against property to another bank with minimal documentation.
These loans are especially useful for micro, small and medium enterprises.
You'll be required to submit various documents when you choose to apply for a loan against property such as identity proof, address proof, property documents and income proof.
The approvals in the case of loans against property are quick and the tenure is flexible too.
Mortgage loans are a better choice as compared to personal loans because the interest rate charged is usually lower.
These loans can be used for multiple purposes like business expansion, wedding expenditures, vacations or education.
Mortgage loans are a great option to meet your financial needs.