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Loan against property is a credit tool that helps you leverage your property for funds. By collaborating with a reliable lender, applicants are assured of a high loan to value on loan against property.

Let’s delve into this further.

A loan against property can address your fund requirements from funding your child’s education to taking that dream business onboard. Although personal loans are a prominent option, here is a reason why you should choose a loan against property.

• Affordable interest rates
• No prepayment charges
• Easily accessible
• Flexible repayment tenure
• Affordable EMIs
• Minimal documentation

Lenders like Fullerton India offer its customers flexible repayment processes with affordable interest rates. Besides providing a high LTV, the overall process involves minimal documentation and hence is hassle-free. Using a loan against property calculator, applicants can decide a repayment scheme that best suits their repayment capability and financial capacity.

Hence the question arises: Which property qualifies as collateral for a loan against property?

You can use the following as collateral:

• A self-occupied house
• A land that you own

The property should be free from any legal complications, and there should be clarity on the title deed. Lenders sanction the loan amount after considering the market value, locality and several other factors.

Final thoughts

Loan against property is amongst the most accessible loans that one can avail. With the right lender, applicants can receive a high loan to value on the collateral pledged at affordable interest rates.

Must Read: 7 Factors That Affect Loan Against Property Eligibility Criteria