There are many situations in life where you might have a sudden requirement for a big sum of money. This need can arise on account of various reasons like medical emergencies, credit card debts, etc. Additionally, you might also have to raise money for important occasions like your child's education, your child's marriage, business expansion or initiating a new business idea, and so on.
Most people think that a Personal Loan is the only option in such circumstances. Though it is true that a Personal Loan can be used for any purpose, it should also be noted that a Personal Loan isn't cheap. Personal Loans are unsecured offerings and therefore comes with some of the highest interest rates in the market, which can go up depending on the individual and especially their financial history. A more advantageous and definitely cheaper option is to go for Loan Against Property. You can even take a Loan Against Property for a piece of land, without any construction. Indiabulls Loan Against Property is provided against a residential property, rented property, or commercial property.
Getting an Indiabulls Loan Against Property is quick and easy to meet your financial requirements. The Indiabulls Loan Against Property is a secured loan and is offered to customers who own land or property. The loan comes with a flexible repayment term and affordable interest rates.
Following are the reasons to get a Loan Against Property from Indiabulls:
Additional Reading: How to get loan for low cibil score?
The Indiabulls Housing Finance Limited offers some of the best features and benefits on Loan Against Property, as mentioned below:
Indiabulls offers very attractive interest rates to its customers, which help them to repay their loans through affordable EMIs easily. The applicable interest rates vary between 11.50% and 15%. The final rate of interest depends upon customer's profile, loan amount applied for, repayment tenure, and property type, and Reserve Bank of India's (RBI) monetary policy.
Additional Reading: How to check cibil defaulters list?
Every financial institution offers loans to applicants only when they satisfy their eligibility criteria, and it is the same with Indiabulls Loan Against Property. Here are some factors that are considered by Indiabulls while ascertaining the eligibility for the applicants:
Any person looking to get a Loan Against Property from Indiabulls Housing Finance Limited has to submit all the necessary documents and it is important that all these documents are genuine. Following is the documents checklist required for getting the Loan Against Property at Indiabulls:
Tip: Check your credit score before applying for a loan.
The best advantage of applying for Indiabulls Loan Against Property through MyMoneyMantra is the convenience. Being an online platform, you can not only get all the required information about the loan, how to apply, documents required, etc., but you will also able to apply for the loan through our online platform. This way, you don't have to visit any of their branches and get the work done through our experts without having to leave the comfort of your house. Additionally, you can avail our services according to your convenience and at any time of the day. We have experienced in-house financial experts who can help you with the entire process. You will have your personal financial expert take you through the entire process of the application making it as convenient as possible.
You can directly apply for a Loan Against Property from Indiabulls Housing Finance Limited through MyMoneyMantra. The process is very easy:
Additional Reading: How to read cibil report?
The EMI amount for a Loan Against Property from Indiabulls Housing Finance Limited can be computed using the MyMoneyMantra EMI Calculator.
You just need to click on the EMI Calculator available under the Financial Tools tab, enter the three parameters, viz., Loan Amount, Interest Rate, and Repayment Tenure, then click on the Calculate button to get the final result.
There are many processes involved in sanctioning a loan method, and there are a few fees charged for some of these processes. However, these are negligible, but still, it is important to know the details about these charges before getting the Loan Against Property. Following are the various charges levied by the company when getting a loan:
Also Check: Cibil Report Online
You can get in touch with the Indiabulls customer care through the following ways:
Indiabulls Housing Finance Limited,
Indiabulls Finance Centre, Indiabulls House, Tower 01, 17th Floor,
Senapati Bapat Marg, Elphinstone Road,
Mumbai - 400 013, Maharashtra
Tel - 022-6189-1000
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Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.
The Loan Against Property from Indiabulls can be used for both personal and business financial needs. The company has no say in how the applicant use their funds.
The Loan Against Property denotes you are being offered the loan by providing the property as collateral. Hence there is no need to provide any other form of security.
For individuals, factors like income, age, qualifications, and respective documents are required. For non-individuals like a business, the latest GST returns, identification proofs, and respective documents must be submitted.
There are different rates like fixed, floating, and variable rates by which the loans are provided for various interest rates. This helps in getting the loans of various interest rates depending on the requirements by the customer.