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(English) WHAT ARE THE CHARGES ON LOAN AGAINST PROPERTY?

Posted on सोमवार , der 14. दिसम्बर 2020

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(English) HOW SOME FACTORS AFFECT THE LOAN AGAINST PROPERTY ELIGIBILITY

Posted on सोमवार , der 12. अक्टूबर 2020

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(English) WHAT ARE THE ESSENTIALS OF LOAN AGAINST PROPERTY?

Posted on बुधवार , der 9. सितम्बर 2020

Leider ist der Eintrag nur auf अमेरिकी अंग्रेज़ी verfügbar.


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WHAT BENEFITS SHOULD SHUBHBANK PROVIDES YOU ON LOAN AGAINST PROPERTY?

Posted on रविवार , der 17. मई 2020

Planning to buy a branded car or planning to get a new home somewhere or thinking to expand your business to achieve more success in corporate sector. So much to do in list, but funds is constantly stopping you from going further in life. There are certain financial problems which you face in your life and can be the most stressful thing happens to you. But, don’t freak out as ShubhBank have an option for you that is loan against property. Haven’t planned taking a loan against property or haven’t heard about it before that how could you execute it or how will it be beneficial for you? Here, the answers to all your doubts will be cleared. A loan against property is a secured loan, which involves your property as collateral for security purpose. The Loan against Property at ShubhBank is popular because of its perceptible benefits. Higher loan quantum is generally available for longer tenure when compared to other secured loans, and at an attractive interest rate.

To avail this loan, you will be providing your owned residential property or commercial property to the lending institution in which you’ll be applying. Applying a Loan against Property at ShubhBank is as convenient as they required minimum documentation, and the interest rates are quite lower than other conventional loans. As convenient as these loans are seen, but they come with certain guidelines which you need to make sure before applying such as the property which you are pledging as collateral should be owned by either you or family, property should be in good condition, and also it should be registered with the government processing. Now, let’s see what benefits should ShubhBank provided you on loan against property to fulfill your requirements.

1. These loans are easy to get from various lending institutions either NBFC or bank. As these are secured loans, the lender feels safe to provide you the funds as they get the benefit of having your property as pledged security.

2. This loan will get you the benefit of prepayments, which means you can close your loan amount before the tenure ends. In these kinds of loans, most of the lenders generally don’t ask for charges while closing loan against property.

3. You can avail the benefit of having access to lower EMIs as the tenure for the loan against property is high, and the rate of interest is low. This option is beneficial for those people who can’t afford a high amount of monthly installments but borrowers who can pay a high amount to repay can opt for shorter tenure also.

4. The longer tenure will provide you the ease of repayment that can’t pay off the heavy amount of EMIs every month. The tenure for this loan can be extended up to 10-15 years depending upon the lender and your eligibility.

Loan against property provide you the funds that help you to fulfill all the plans, you wished for but couldn’t execute due to lack of finances. Now, apply for loan against property to easily plan your dream vacation, destination wedding or send your child abroad for higher studies.


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(English) FIVE FACTORS TO CONSIDER BEFORE TAKING A LOAN AGAINST PROPERTY

Posted on शुक्रवार , der 15. नवम्बर 2019

Leider ist der Eintrag nur auf अमेरिकी अंग्रेज़ी verfügbar.


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LOAN AGAINST PROPERTY ON POSSESSION: THE BEST WAY TO FULFIL MONETARY NEEDS

Posted on सोमवार , der 10. सितम्बर 2018

Getting LAP for buildings is gaining popularity rapidly. Through the LAP, people can raise their financial resources. Banks or financial institutions typically offer financial resources on your assets. You can take credit from banks on the rented, unused or an occupied property.


Getting your grounds financed is one of the best alternatives if you want to raise up capital. It is disbursed according to the market value of your asset which is normally between 50 per cent to 65 per cent. It is a secured loan type where there is a guarantee given by the borrower who makes use of the resources as a backing security.


You can use your possessions to get funding from banks or money lending companies in order to meet varied business as well as personal requirements. The credit taken on the buildings is used mainly to fulfils wedding expenses, business expansions, buying machinery, higher education and closing off high-cost advances.


Purposes of getting the buildings or resources credited –

It can because of the following reasons people opt to get cash on behalf of their belongings-
● People often take a loan in place of their assets to expand their business.
● Sending their children abroad for higher studies.
● Funding dream vacation
● Funding medical treatment
● Getting their daughter/son married


Eligibility criteria –

One need to accomplish a specific set of eligibility criteria for getting their possession credited. Though, it may vary from one money lending company (bank) to another. Here is the list of some common “Loan Against Property Eligibility” factors that all financial institutions look at-

● Income, savings or debt obligations.
● Value/cost of the mortgaged building.
● Repayment record for credit cards or other borrows etc.


Required documents –

A smooth and simple documentation process eases the borrowing exercise. Most financial institutions or banks usually require some common and important documents in order to transfer particular types of credits. Here is the quick list of loan against property documents required:


1. For salaried customers

● Application form with photograph
● Identity proof
● Residence proof
● Bank statements of last 6 months
● Income proof
● Processing fee cheque


2. For self-employed professionals

● Application form with photograph
● Residence proof
● Valid Identity
● Required education qualifications certificate
● Proof of business existence
● Profit/loss and balance sheet of the last 3 years
● Past 3 years income tax returns
● Last 6-month bank statements
● Processing fee cheque


3. For self-employed businessman

● Application form with photograph
● Residence and identity confirmation
● Business existence proof
● Certification of educational qualifications
● Income tax returns of last 3 years (business and self)
● Profit/loss statement and balance sheet of last 3 years
● Last 6 months bank statements
● Processing fee cheque


Advantages of loan against property

Some of the favorable advantages of taking such financial help are mentioned below-

● Lower interest rates
● Simple approval process
● Flexible repayment tenure
● Continuous ownership
● Optimum use of your valuable at the time of need.
● The best tool for debt consolidation
● Pre-closer


A loan against property is the best source to raise funds. The only drawback of such type of finance is that if the borrower is unable to repay the credit amount fully, the financial institution or bank can take ownership of the mortgaged property.