Loan Against Property

Loan against Property is a secured loan. If you own residential or commercial property you could utilise the value of the same by opting for a equitable mortgage loan. The property papers are taken as security for a loan at a much lesser rate than personal loan. The ownership of the property is retained by you. In case of inability to repay the loan the property could be disposed off to repay dues. Normally loan against property is taken for a long term for working capital, expansion, repay expensive personal loans etc.

Loan against commercial property :

The loan availed against commercial property mortgaged is termed as loan against commercial property. While providing loan against commercial property, the bank verifies the type of commercial property, its usage and occupancy. Most of the banks offer loan only if the commercial property is self occupied. The maximum loan under this scheme can be up-to 50% of the market value of the property.

Loan against residential property :

The loan availed against residential property mortgage is called loan against residential property. Customer can mortgage his/her residential property like house or plot to avail this loan. The maximum loan under this scheme can be up-to 60% of the market value of the property.