How Loan Against Property Raise Funds for a Family Function?
What is Loan Against Property?
A Loan Against Property is when you pledge your residential/commercial property as an asset to the lender.
How Do I Get Funds with it?
The principal amount is the loan you borrow from the housing finance company. And they provide you with a maximum amount of 65% of your property value.
Fixed Interest Rate
The interest rate applicable to Loan Against Property ranges from 9.65% to 12.85% per annum. And the rate of interest remains the same throughout the repayment period.
A maximum of 15 years repayment period is available for the borrower to repay the loan amount.
Loan Against Property for Family Functions can be paid in equal instalments for the chosen tenure. You can use the Home Loan EMI calculator to estimate the suitable EMI for your loan.
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