Top 3 Loan Against Property Providers at a Glance
Summary – You can meet an urgent need for a higher amount of money with the loan against property facility in India. Read on to know leading 3 loan against property providers in India!
If you live in own home, it’s a blessing in disguise. Not only living in your home provides you with a sense of comfort, warmth, and accomplishment, you can also liquidate it during emergencies.
However, more than selling your property and getting cash to face an urgent situation in life, it is always a better idea to opt for the loan against property. Like this, you can continue to live in your own home and pay monthly EMIs for the loan availed against either at fixed interest rate or at floating interest rate. If you have a bit of confusion about what is floating interest rate or what is fixed LAP interest rate then you must be first aware about that so that you can choose the best one as per your requirement.
Lenders process all loan against property (LAP) applications as your home is considered the collateral which lets you get quick money without issues.
You can use a loan against property facility from the known loan against property providers in India to fund many needs. Most of the applicants use the loan against property facility to finance their child’s education, wedding, medical emergencies, expanding businesses and beyond.
Thus, if you have any such needs, you can rely on the loan against property (LAP) facility instead of selling your home to meet any urgent needs requiring more money.
When it comes to the facility of the feature and benefits-laced LAP, you can find many online and offline loan against property providers. However, the sad part is that only some are reliable. This post will help you know all such leading loan against property providers in India. Take a look:
Top loan against property providers in India
1) Bajaj Finserv
Bajaj Finserv is one of the top non-banking finance companies (NBFCs) that provides loan against property at a lower rate of interest. For interest rate choice will be yours. You can either choose fixed or floating interest rates. Before applying you should know, fixed or floating interest rate which is better. With this, you will also provided many other benefits such as:
Higher Loan Amount of up to Rs.3.5 Crore – If you a salaried professional, you can borrow up to Rs.1 crore while business professionals can grab up to Rs.3.5 crore.
Easy Loan Disbursal – Once you qualify the loan against property conditions, you can expect quick money disbursement as can close the process in 72 hours. The lender also lets you avail a doorstep service to collect your loan documents.
Wider Tenor – You can enjoy a flexible tenor between 2 years and 20 years to repay the loan as per your convenience and without affecting the monthly budget.
Easy Balance Transfer Facility – If you already have an ongoing LAP, you can transfer it to Bajaj Finserv and enjoy lower rates along with a top up loan also.
Online Account Access – You can access all loan information via the lender’s online portal and know its progress right from anywhere and 24/7.
2) HDFC Bank
HDFC Bank is another reputed lender that offers the loan against property facility with the following benefits such as:
➤ Online approval
➤ No collateral required
➤ Lower interest rate facility
➤ Top up loan
➤ Doorstep document pickup facility
One should be aged between 21 years and 60 for salaried and between 21 and 65 years for self-employed
Anyone earning Rs.25,000 per month is eligible to apply
3) ICICI Bank
ICICI Bank is the largest privately owned bank in India and it also offers the loan against property facility to its customers which comes laced with the following benefits:
➤ You need not provide any guarantors to apply for LAP
➤ Online approval
➤ You can grab the LAP with interest rate ranging between 9.20% and beyond
➤ The maximum loan tenor is 10 years
➤ Easy and hassle-free documentation
➤ Speedy approval
➤ Doorstep facility for documents pick up
The Bottom Line
If you need some urgent and high amount of cash for any instant needs, you need not worry if you have your own home as you can opt for a loan against property facility. Here’s loan against property tips that you may follow while applying for it.
You can make your choice between the discussed the loan against property providers in India now that you are aware of the leading lenders.
Bajaj Finserv offers some choicest pre-approved loan offers on many financial products that you may be interested in. You can discover your pre-approved loan offer now by sharing some of your basic details.
