When you are in need of money, loan against property can be the right solution. A loan against property is the best financial solution that can help you meet all the financial goals. It is a secured loan, where the bank gives you the loan amount immediately. You simply have to give a collateral/security against your loan amount.
This loan is based on your property. This means that the money you will get can amount up to 60% and 70% of your property’s value. On the other hand, your property is a security, which means that bank can use your house to cover the cost of the loan.
Reasons why Loan Against Property might be a great thing for your Budget
Loan against property in Guwahati can provide you with enough money to solve your critical situation. On the other hand, it can help you to create other sources of income, too. The application process is very simple, and the bank will get your results in a short time notice. This is a good thing to know because you can use it in emergencies.
The application is based only on documents required to process the loan, so you should inform about that on our website at Paisabazaar.com website. The banks for a loan against property in Guwahati provide you the loan amount by considering a collateral against your loan. The bank has the rights to repossess your collateral if you fail to repay your installments.
Loan Against Property details that you should know before applying
Each bank in India can offer you a different loan against property scheme. You will have to do some research to see which option suits you the best. The same goes for the documents that you need to submit however there are some common documents are requires to submit at all the banks:
- Income Proofs
- Address Proofs
- PAN Card
- ID Proofs
- 6 Passport-Sized Photographs
Guwahati Banks Interest Rates
Loan against property Interest Rates in Guwahati are different in each bank. However, they are always somewhere between 12.00% and 15.75%. of the whole loan amount. You can see some of the Interest Rate examples in the loan schemes bellow:
Where to find a Loan Against Property Scheme in Guwahati?
When begging the search for the right loan against property, you should know where to start from. These are some respectful banks that can provide you with a good loan scheme:
1. Vijaya Bank:
- Interest Rate begins from 12.15%
- Maximum loan tenure is seven years
- Processing fee is 0.55%
2. Karnataka Bank:
- Interest Rate is 13.2% onwards
- Maximum loan tenure is 15 years
- Maximum loan tenure 15 years
3. Federal Bank:
- Interest Rate is up to 14.88%
- Processing fee is up to 0.50%
- Maximum loan tenure is 10 years
4. Allahabad Bank:
- Interest Rate is up to 14.95%
- Maximum loan tenure is nine years
- You can apply for amount up to Rs 2 crores