Bangalore is
probably India’s only cosmopolitan city and the largest IT hub of the country.
The city boasts of having the second highest number of start-ups globally.
Not only the
booming IT industry, but it is also a center for biotechnology, aviation, manufacturing
and space technology. The town has a rich social infrastructure, excellent
commuting modes along with pleasant climate all over the year.
Going by the
reputation of Bangalore, many reputed banks and non-banking finance companies
(NBFCs) offer many finance options to cater to residents’ needs here. The loan
against property in Bangalore is no exception!
If you have a
property in Bangalore and need a higher value loan, you don’t need to sell off
your property and lose the possession of an asset. Instead, you can apply for
the loan against property in Bangalore online and get a large amount at a lower rate.
Here is some
more information on the loan against property in Bangalore and more; read on!
What Is A Loan Against Property In Bangalore?
The loan against property in Bangalore is a facility in which a borrower
can mortgage property with a lender to get up to Rs.3.5 crore.
It is a secured
loan facility. It makes it easier to get approved by a lender. It is as they
see lower associated risks. Also, because of the secured nature of the loan,
the funding facility is offered at a lower interest rate. Therefore, a borrower
can fulfil his/her wishes by enjoying a lower interest rate meaning reduced
EMIs.
Loan Against Property In Bangalore Eligibility
Before getting
started with the loan against property in Bangalore facility, you will need to
prove your eligibility. Here is a quick look at some standard loan against
property eligibility:
You need to be under the age of 25-70
years
You should either be salaried or
self-employed
You need to have a regular source of
income
You need to have a property in a
location as declared by a potential lender
Loan Against Property In Bangalore Benefits
1)
A Loan Amount Of Up To Rs.3.5 Crore
Based on the
market value of the property and the loan eligibility, you can get a loan value
of up to Rs.3.5 crore. Hence, you can use the loan money as per your needs to
fulfil many needs and aspirations without restrictions.
2)
Flexi Loan Facility
You can
withdraw an amount out of your approved loan limit as per your needs and pay
only the interest as EMI and nothing more. The remainder of the amount is
adjusted after the end of the loan tenor. This way, you can manage your loan
limit as per your needs and don’t feel the burden of paying the EMI on the
entire loan.
3)
Flexible Repayment
As per your
financial portfolio, you can get a tenor ranging between 2 and 20 years to
stretch your loan amount into smaller EMIs. This way, you can manage your
monthly outlays by not stressing about paying a portion of income towards EMIs.
If you are
ready, you can apply for a loan against property in Bangalore after comparing
all deals online on a third-party website.
Bajaj Finserv
also presents pre-approved deals on loan against property, mortgage loans, home
loans, personal loans, business loans, and other financial offerings.
Such offers aim to simplify the overall loan processes and make it less
time-consuming. You can unlock your customized pre-approved loan offers after
sharing your basic details such as your name and mobile number.
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