Property loan or loan against property is a secured loan, which residents of Delhi can get from banks or NBFC, online at loanbaba.com. To qualify for the loan, the person should own the property in question. The property can be either commercial or residential. The documentation regarding the property must be submitted online at the website while applying with the financial institution.
As a platform to connect with loan against property provider in Delhi, loanbaba assists you to compare top banks such as SBI, ICICI, Axis and more. You can get all information about mortgage loan schemes in Delhi and loan against property interest rates in Delhi.
There are many eligibility factors concerning property loan in Delhi, such as age of the property, age of the applicant, income of the applicant, credit score, repayment capacity of the borrower etc. Eligibility criteria can differ as per the banks/NBFC norms.
One can expect lower interest rates on secured loans as compared to unsecured loans. As loan against property is a secured loan, the rates of interest are usually reasonable and not high. Check best interest rates for property loan at loanbaba.com.
The borrower will be expected to make monthly payments, which include the principal and interest amount for the loan, as calculated for monthly basis. Interest rates are as low as 9.75%. There could be other repayment options, if not monthly, and you can compare all such details at our website.
According to the property’s condition and market value, banks and NBFCs often offer up to 70% of the property’s value. Maximum loan amount is Rs. 5 crore. Tenure for this loan can extend up to several years, such as 10 years, 15 years, etc.
As loanbaba.com is an online platform, where individuals can browse through all banks and NBFCs offering property loan, it gets easier to compare offers, know eligibility and other terms and conditions of the loan, and apply with best lender, as per customer’s need.