#

What is Loan against Property?

Your property is truly one of the most valuable assets you possess. You can use that property (both residential and commercial) as security to get immediate access to funds through our Loan Against Property. Your can meet your business aspirations or any other personal requirement that shouldn’t be compromised. We have put the power in your hands to make the best out of your property and your finance.

How does one take a Loan Against Property?

We have made the process of Loan Against Property simple. You just have to follow these easy steps:

  • Check your eligibility online
  • Select your loan amount and tenure
  • Submit your application & documents
  • Get your money in the bank account

What are the basic requirements in getting your loan approved?

To be eligible for a Loan Against Property, you should be at least 25 years of age at the time of borrowing and 65 at the time of completion of the loan. If you are a salaried individual, you should earn at least ₹ 20,000 per month and have a minimum of three years of experience. In case you are an entrepreneur, your income should be at least ₹2.5 lakhs per annum and have three years of experience in your current field.

What can you use Loan Against Property for?

It is completely up to you on how you decide to spend the loan amount. Whether you are a salaried individual or a business enterprise, here are some of the end uses for Loan Against Property:

  • Personal needs
  • Business needs
  • Working QuickFins for Business
  • Renovation of property
  • Investments
  • Asset acquisition
  • Consolidation of debt
  • Mortgage buyout
  • Refinance of self-financed property.

4 reasons why Loan Against Property is the right choice for you

Loan Against Property is one of the most diverse loans you can take. Using your property as collateral, you get access to funds that can address your needs. You have the choice to use the money to expand your business or use it for more personal reasons such as education or wedding. You can even use it to renovate your home or for unexpected medical expenses. It is entirely up to you as you have full freedom.
You use your property only as collateral while you continue to own the valuable asset. Only in the event that you feel that you are unable to repay the loan amount, you get the choice to sell your property in order to settle the loan. However, you have the power to tailor you repayment options to make sure you never have to lose your property.
You have the choice when it comes to what kind of property you wish to use to secure a loan. We at QuickFins accept both residential and commercial properties as collateral. You can also apply for Loan Against Property if you own the property with other people as long as they are also co-applicants of the loan.
At QuickFins, we offer Loan Against Property that is completely customisable to your needs. You can tailor your loan while selecting your loan tenure, amount and your repayment option according to what works best for you