Loan against property is granted to any individual who owns a property by any lending institution. In such times, a COVID outbreak has elevated the expenses more than the income, therefore, people who have to deal with long term financial issues, a safe solution which can help them for long years is to “Apply For Loan against property“.

In our country, the majority of financial institutions offer loan against property to a person who owns any residential or commercial property. It is meant to be secured loan as you have to keep your property as collateral to access the funds. Hence, the interest rates are lower than personal loan because of the security. There are few ways to follow which will help you to get the best deal on loan against property at lowest interest rate.

Maintain a good CIBIL score: It is very important to maintain a good credit score to secure any type of loan. However, it sounds difficult but in real, it is very simple to maintain your credit history. One needs to pay his/her bill payments, credit card dues and other loan repayments on time every month without doing any default.

Steady income and savings: Another key factor to secure the loans at lowest rate of interest is to maintain a steady income, especially as long as you have any pre-existing loan in your name. However, without a stable source of income or enough savings, it becomes difficult for you to repay the monthly installments and to clear all your debts. If you default on any of the repayments, you can lose your rights on pledged property.

Plan your budget: The important thing that one should be aware about is to manage the funds what they have. Thus, it is good to control all your unnecessary expenses otherwise it might hurt you in the long run. It will ultimately help you to save more at the end.

As a loan against property is known for a loan that lender provides a borrower against the property which is under his/her name, so lender will check your property ownership papers. A lending institution will send a team of valuators who will evaluate the market price of property to be pledged. You can secure up to 70-75% as a loan quantum depending upon the current market price of the property.

We can say that the people who wish to own a huge amount to clear their debts and to face the emergencies such as higher education abroad, to pay medical bills etc. they can “Apply For Loan against property Online“ or offline as it will act as a boon for them.

It will be smart choice to follow the above mentioned points and to maintain every required document to get approved for loan. If you are looking for the best loan against property experience, you can contact ShubhBank or you can apply online at our website and we ensure you the best deals at the lowest interest rates in the market.

Owning your dream house is a big deal for any individual for which he/she has to work hard and has to seek the financial assistance from any financial assistance to make their dream come true. Most of the population in our country starts earning at their early age and their dream of having their own home starts building up soon.

As all knows buying a home surely is a biggest investment as it has many charges included in it such as down payment, property taxes, registration charges, stamp duty etc. However, in your 20’s it is not an easy job to “Apply For Home Loan“. In this article, we have mentioned some of the hurdles and ways to tackle them to get your home before you turn 30.

Age: It is the basic criteria for any loan to be of age 25 years and if you are in early 20’s and want to avail a home loan, lenders may not be interested to process your loan. To your surprise, you can add your parents as co-applicant to assure the lender about repayments or you can produce proof of employment if you are working for more than a year to get a loan.

Steady income: At such early age, some youngsters just have completed their studies and have started their employment. Either they are self-employed or salaried individuals, it becomes difficult to secure a home loan.

If you are salaried, you can provide the lender with Form 16 for 2 years or salary certificate with copy of ITR whereas self-employed can submit the challans proving the paid advance income tax, assessment orders for 3 years, business proof and audited statements from last one year. If lender asks you to wait for said time then you can save funds for the down payment of your house.

Credit score: In your 20’s, it is difficult to have a strong credit score. One needs to have a good credit history, savings, balanced credit card payments, earlier repayment history etc. to build a strong credit history. It’s too much to expect these things from someone as young as in his/her early age. One should have prior knowledge about CIBIL score before they “Apply For Home Loan Online“ or offline and start building the store from the very start of their employment.

Documents: One needs to have very specific documents in hand to avail a home loan. Before applying, you should start planning and get all the documents one by one in hand to avoid any rejection in the processing of a home loan. These documents may include your Aadhar card, PAN card, copy of approved plan for the construction of home, cost estimation from the bank’s panel, NOC of the society, other property papers etc.

Well, the requirement of documents and eligibility criteria for loan differs from lender to lender but the above mentioned list is basic one. Now when you know all about the hurdles and ways to get a home loan in early age, start planning from right now.

With the economic transition in country, people tend to move from villages to cities in search of livelihood. Therefore, need for better housing has increased and it all demands great supply of money and this story continues to be written by financial institutes by providing home loans to assist your funding and to made your home acquisition much easier.

However, the cost of living needs ample amount of money which could make you dip into your savings but you can secure a home loan which is made available easily by the number of lending institution these days. Your dream house could be just a click away at ShubhBank where you can “Apply For Home Loan“ to finance your needs.

Home loans are categorized under secured loans and their interest rate may vary from lender to lender. The repayments are done through equated monthly installment or EMI and depending upon the market value, lender may offer loan amount up to 80% of the total cost. The home loan solutions are planned upon the purpose of purchase or construction of the property, funds can also be secured for home extension or renovation.

Let’s have a closer look at the most popular home loan in India:

Loans for acquisition of land: These loans are available on flexible options to save funds and construct any type of home or just to treat your purchase as an investment. It is only available if you want to purchase a vacant plot to save, invest and earn.

Loan for the purchase of home: This type of loan is available for buying a new home or pre-owned home from the real estate agencies. The lender helps you purchase your own home on varied criteria which determines your interest rate. Typically, you can borrow up to 85% of the total property cost in these types of funding.

Home construction loan: If you are having a vacant plot and planning to construct a house of your own choice, apply for this home loan. These loans are specially designed for people who want to build their own house that suits their lifestyle. The loan quantum is approved on the basis of rough estimation of construction costs and disbursed in installments to your bank account.

Home extension loan: The loan is available for the individuals who want some changes in their existing home. In case, you want to add an extra room or bathroom or you want to alter the structure, you may seek a home extension loan with a rate of interest similar to the other home loans.

Home improvement loans: If you are looking to renovate your existing home or want to construct a water tank or need to carry out an electrical renovation, many lenders in the market offer loan for such home improvement plans.

Hence, you are now aware of popular kinds of home loans available in the lending market, so identify your requirement and select the right type of funding that suit your purpose and “Apply For Home Loan Online“ or offline and enjoy the warmth of your personal space.

Taking a loan against property has become easy these days as ShubhBank has introduced its online portal to get a loan. If you are an owner of residential or commercial property then you can easy secure a mortgage loan from any financial institution of your choice. One should fit into eligibility criteria and must have some important things in hand to “Apply For Loan against property“. If you are in urgent need of quick funds to fulfill your financial needs, we suggest to keep in mind the following must have’s to get such loan.

Ownership of property: This loan is secured only if you own a piece a property in your name whether it’s a residential or commercial property; either villa or a shop; any property registered on your name is eligible for the loan. In case, multiple people own a property, they can get a loan as co-applicants but if you singly own a property then ownership papers should clearly state you as owner.

Property’s value to be mortgaged: Alongside your eligibility, a lending institution also checks the property’s eligibility. The property you are about to mortgage should not be much older as well as should not be under any legal conflict. The loan quantum to be approved is finalized upon the market value of the property.

Banks and other lenders approve only 70 to 80% of loan amount as per the current value of the mortgaged property. Hence, one should know the value of property and then proceed with the loan processing.

Check your credit score: One must have a strong credit history to apply for a loan against property. It all depends upon your financial history, profession and income and you existing loan repayments etc. Most of the lenders process your loan if you have a credit score above 750.

Processing fees of loan: You can also “Apply For Loan against property Online“ however it’s online or offline, a lending institute always charge you some basic processing fees. It may range from 1-2% of the total loan quantum approved to you. Therefore, it is always better to know about the processing fees your lender will be charging to you and then go for the loan amount that you need.

Repayment capacity: It is an important component to get approved for any of the loan. Every lender checks the repayment capacity of the borrower to approve his/her loan against property across India. This paying back capability depends upon how much you earn in a month, your credit history and your profession in a reputed organization. It is advisable to perform a check on what you can really afford to pay back your loan amount in a fixed period, even before applying for it.

Thus, now you know all the must have’s for getting a loan against property from any lender, so make sure to check your eligibility criteria to fulfill your financial requirements and emergencies. Hence, choose the ShubhBank to secure a loan against property with best features you can ever get.

Loan against Property is a financial tool that you can secure when you pledge or mortgage your property to the lender. It is a secured loan as far as the lender is concerned. In case you default on repaying on repaying the loan amount for any reason, the lender can retain the rights of your property. So, one should only pledge their property when he/she is sure to repay the loan.

Before you “Apply For Loan against property“ you should plan your budget and save for long term financial goals that you can foresee. Besides all your planning, there are some uncertain situations which need to be addressed with additional funds. Let’s have a look to find out how Loan against Property can raise funds in some typical situations.

Education and Wedding Expenses: A higher education of your wards and their wedding are long-term financial affairs. You would normally plan them earlier in life and save up for it. There are specific loans offered by lenders for both higher studies and marriage. You can consider the fact that interest rates and repayment conditions on it are more convenient in comparison with these specific loans. You must be sure to repay the loan depending upon your income and saving.

Business Funding: You have to mortgage an asset when you avail a loan against property. As mentioned earlier, if you are unable to repay the loan, you could lose the right on your property to the lender. Therefore, utilize the loan money for purpose that is not too risky. That is why; it is good to secure this loan to expand your existing business rather than starting a new business as your business profits needed to be steady to pay off the loan easily.

Medical Emergency: As one’s age grows, medical expenses usually increase. The best way to plan this is to get a health insurance policy in your early age that can help you to manage the medical expenses later in life. But in case, you skip this step, there are high chances to shell out all your savings in tough times. “Loan against property Online“ is not a best way to fund medical expenses but emergency but it can certainly help you out.

Down Payment for new Home: When you secure a home loan, the lending institution will only finance up to 80% of the market price of that home. The rest 20% will need to come from your pocket. If you are buying a luxury home, the down payment itself will cost into many lakhs. Generally, you should have saved for that but if not then you need to borrow somewhere.

You can also pick up a personal loan or loan against property to raise the funds but remember, the rate of interest on these loans is higher than the home which can result in a financial burden on your pocket.

At the end, you would see that LAP is a good option when you need to raise funds to fulfill your requirements but it is always great to compare all the available offers and finalize a calculated decision.

Yes that’s right! Your real estate assets in your old age could become your biggest source of financial security to help you in many more ways. At the age of 50, if you could be facing any financial needs such as paying for your children higher education, wedding expenses or you may grabbed any excellent opportunity in business and looking to invest in new start-up which requires a large sum of fund in a short time then the most safest, fastest and convenient way to organize the finances is to opt for Loan against Property.

A mortgage loan can help you by unlocking the financial property of your residential or commercial property. There is a wide range of mortgage loans available for you to meet your financial emergencies, whether they are for personal needs or professional ones. It is recommended to look out for a well-established financial partner like ShubhBank, who has presence with vast network across the country.

Our institution offer great skills and experience with fully customized mortgage loan that comes with exclusive features and a range of tailored benefits such as top-up and balance transfer. Your idle property could become your gateway to fulfill all your dreams and life- long goals in the most affordable manner. One could “Apply For Loan against Property“ as long as you have all the required documents.

Documents required for Loan against Property: The basic paperwork required for such loan includes loan application form with passport sized photograph, ID proof, residence proof, PAN card, latest 6 months bank statements, Form 16(if you are salaried individual), business evidence, business financials and income tax returns( if you are self-employed), property’s title documents etc. If your documents get verified, you can avail the loan quantum of 60-70% of your property’s market value.

Eligibility Criteria for Loan: The criteria for “Loan against Property Online“ or offline are usually based upon your repayment capacity. The repayment capability results from the various factors that include your income, your partner’s income, and debt to income ratio, your qualification and your profession. Thus, an old age property owner would also be eligible for a Loan against Property if you fit into the eligibility criteria asked by the particular lending institute.

Hence, your age doesn’t matter in such context, if you are looking for funds to fulfill your personal, professional or educational needs, getting a loan against property could be your ideal solution. It is important to search for a lending institution with a good track record and services besides alluring benefits. It is best to choose one that is equipped to take proper care of your requirements and personal documentation.

In addition to that, the eligibility criteria for loan against property are not assessed on the basis of your age only but there are other careful considerations of multiple factors listed above. It is advisable to choose a reputed financial institution like ShubhBank to apply for a Loan against Property which understands and fulfill your needs with maximum features suitable for you.