Get an affordable interest rate on loan against property with these tips

Applying for a loan against property means that you can enjoy a large amount of approval at a lower rate. It is because it is a secured debt. However, if you want to get even a more affordable interest rate on loan against property, you can implement a few tips. Read on!Maintain a CIBIL score Even though a loan against property is secured finance, you need to maintain a robust CIBIL score to get the approval at even a lower rate. Lenders...

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You Must Know About What is Loan Against Property?

The loan against property is one of the secured finances available in India and offered by leading banks and NBFCs in major cities. If you need a large amount to cover your different needs, you can keep your property as the collateral to do that. In this case, the loan is given against the value of your property. Most lenders may provide you with a loan value of up to 75-80% worth of your property. And the best part about it is that...

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What are the factors that affect loan against property eligibility?

Potential borrowers need to fulfil all loan against property eligibility requirements to avail such credit without hassle.Some of the factors that influence these eligibility are discussed below.Factors affecting LAP eligibilityCredit historyCredit history or CIBIL score is a crucial parameter that affects the LAP eligibility significantly. This factor substantiates a borrower’s repayment capability and creditworthiness. Most lending institutions...

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