Loan Against Property

Decoding Loan Against Property

Loan Against Property is a multi-purpose loan that can be availed by pledging the borrower’s property as collateral. The property can be residential, commercial, or a plot. Since a property is being pledged, the interest rates on these loans are pretty low. Generally, loan against property is availed by people who wants to upscale their business.

Is Loan Against Property The Right Choice For You?

Have you wondered how a loan against property can benefit you? Here’s how

  • You can pledge your residential/commercial property as collateral to acquire a loan.
  • You can also avail benefits by using the pledged property. For example, you can rent out your pledged residential property and make money out of it. If it is a commercial property, you can make money out of it via your business.
  • If your creditworthiness is intact and if you possess all the required documents, the lender will have no trouble processing your application and you’ll have your loan sanctioned in no time.
  • In times of urgent need, your property serves as a perfect companion by tending to your fiscal needs.
  • Loan against property makes you financially independent as you’re generating credit right from your very own resources.

How Can You Differentiate Loan Against Property From Others?

Loan Against Property comes under the category of secured loans since it involves pledging a collateral. An unsecured loan, on the other hand, is not backed by a collateral and hence tends to have higher interest rates. Loan Against Property is a secured product wherein you can avail loan at attractive rates to fulfil various needs.

Who Is Your Right Financier?

Before circling down your financier, you will have to research and analyze whether the particular financier serves the best of your interests. One such financier you can put your trust in is Cholamandalam Investment and Finance Company Limited. You can visit https://www.cholamandalam.com/apply-now-loan-against-property to apply for a loan against property or give a missed call to us at 07949130412 or visit your nearest Cholamandalam branch.