Do you live in Vishakhapatnam or Vizag and have a home? Did you want to sell it off and buy a new bungalow or 3BHK house in Vizag?
You don’t need to sell your home to get funds to buy a modern-day house! It’s because you can now avail the facility of loan against property in vizag to fulfil your wish!
If you don’t have much idea, then this quick post may help you out. Read on!
Vizag is the financial capital of Andhra Pradesh. Many well-known lenders extend the loan against property India facility at a lower interest rate here.
What Is A Loan Against Property?
As the name suggests, the loan against property is offered when you keep your property as a mortgage with a lender to avail a higher amount as the loan. You have the freedom to use the loan amount as per your needs as a personal loan.
Yes, many people don’t apply for the loan against property facility assuming that they lose the ownership rights upon using the property for a loan. Nonetheless, it is not true, and you continue to remain as the owner of the home even after availing the loan.
A bank or lender can take control of your property only when you fail to repay the loan within the scheduled tenor. Hence, the loan against property facility may be your go-to finance mode if you are facing a cash crunch or want to buy a dream home.
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What Are The Benefits Of The Loan Against Property?
Availing the loan against property in Vizag can offer you many benefits such as:
- A Higher Loan Amount Of Up To Rs.3.5 Crore
You can get an approval for a higher value loan amount of up to Rs.3.5 crore at lower interest to fund your needs. You can use the fund to buy another house, use it during emergencies, expand a business, go on a world tour and so much more.
- Flexi Loan Facility
You can withdraw or use an amount out of your total approved loan limit as per your wish and pay only the interest as EMI on it and nothing else. The rest of the money can be adjusted after the end of the tenor.
- Flexi Tenor
You don’t need to stress about repaying the loan against property in Vizag facility as you can repay in easy installments. As per your loan against property eligibility, you can get a tenor ranging between 2 years and 20 years. This way, you can repay in EMIs.
- Online Account Access
You can access your loan against property right from anywhere and anytime as lenders let you do that via their digital customer portals. This way, you can track the progress of your loan 24/7.
Loan Against Property In Vizag Eligibility
- Your age should be between 25-70 years
- You should have a consistent source of income
- Your home which you want to mortgage and get the loan should be in the city list as per your prospective lender’s policies
Do you have a house in Vizag and you need funds to buy a new advanced-day dream home? You can apply for loan against property in Vizag with a lender today.
Bajaj Finserv offers pre-approved offers on loan against property, home loans, personal loans, credit cards, business loans, EMI finance and more. It is to simplify your loan processing and make it less time-consuming. You can check out your pre-approved loan deals today after sharing your basic details such as your name and mobile number.