What is the maximum tenure under loan against property?
Posted by Sarita Yadav on December 29th, 2021
Having a home is the dream of every independent individual. People dream of a home sweet home by unfortunately not everyone has so much readily available cash in order to buy a house by a down payment. In India, people are living a middle-class life (maximum population). In this scenario, a very less percentage f people have so much money to buy a house instantly.
But now you do not have to worry. One can get their own house by taking a home loans. It is a safe and trusted option. One can pay the loan back to the financial institutes as and when the EMI option allows. Though one should remember that while taking the loan, you will have to give some interest as per the norms of the firm from where you are taking the loan. The loan provided depends on the value of the property.
With the rising cases of NPA, the financial institutes are opting for a more secured way to sanction loans which is a loan against property. In this type of loan, if you have some prior asset then you can use it as a mortgage in order to get big loans. The interest rates get reduced and one can avail large amounts as well. The maximum duration for attaining a loan against property is up to 15 years. Though this tenure may vary from company to company. Accordingly, the EMI gets adjusted.
Banks and other financial institutes prefer this option of lending because if in case the loan turns NPA, the money can be recovered by selling off the asset on the mortgage.
One of the best firms for availing any kind of loan advice or services in Shubham home loan. The company has sanctioned an amount of up to 3000 crores and above. It has around 84 branches disbursed all over India. If you are looking for a reliable firm to get a home loan, this is your go-to place. Make sure you have all the valid documents needed for the loan. Within no time the loan would be sanctioned. The officials of the firm have years of skill in the finance sector. They find out the way of fetching the right loan amount and EMI option according to the paying capacity of the client. The rate of interest is also genuine. So what are you waiting for? Apply for the loan today and get a step closer to your dream house!
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About the AuthorSarita Yadav
Joined: August 25th, 2020
Articles Posted: 52
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