One of the top assets to have is Property. However, did you realise that your Property could be a way to get money without the need to sell it? Using a Loan Against Property (LAP), you can extract money equivalent to the value of your Property for your personal or business use — at the same time, you are the Owner and user of the Property.
A Loan Against Property implies obtaining a loan from a bank or a economic institution with a pledge of your Property (residential, commercial, or industrial) as security. How much of a loan you get is created on the fair market value of your Property and your capacity to repay. In most cases, a loan not exceeding 60–70% of your Property's realisable value can be availed.
This loan caters to those who intend to Diaríst large sums to cover studies, business, health, and financial restructuring, among other things. Generally, the interest rates are significantly lower than those of an unsecured personal loan, as the loan is secured.
Types of Loan Against Property
Loan for Individuals: Suppose you are a salaried employee or a self-employed professional. In that case, you may be eligible for this facility to meet the personal needs of your family, such as education, marriage, and home renovation.
Loan for Businesses: Company owners can utilise this approach within their organisation to expand the business, purchase new machinery, and maintain a smooth cash flow management system without having to sell assets.
Lease Rental Discounting: In the case of a rental property, the Owner can avail a loan against the rent earned from that Property.
Benefits of a Loan Against Property
Lower Interest Rates: As a secured loan, the interest rate is less than that of personal loans.
High Loan Amount: Based on the worth of your Property, you can get a big loan amount to cover large financial goals.
Flexible Repayment Tenure: You have the option to repay the debt over a longer period, typically ranging from 10 to 20 years.
Continue Using Your Property: Get the loan and pay the EMI without moving out or selling your Property.
Multi-Purpose Use: The loan can be used for any personal or business purpose.
Why Choose 3S Loan Services?
Getting a Loan Against Property is not a piece of cake. Every bank has its own unique eligibility criteria, interest rates, and documentation requirements. This is exactly what 3S Loan Services comes in to make the process convenient and stress-free. We do the work for you!
Take a look at the reasons why we are the best:
Expert Consultation: Our agents work with you to verify the value of your Property, the loan amount you can qualify for, and the lender offering the most advantageous terms.
Best Loan Comparison: We conduct extensive research before selecting the best option for you, which includes exclusive interest rates, instalment plans, repayment options, and processing times from a multitude of banks and financial institutions.
End-to-End Support: 3S Loan Services is here to assist you with every step of the process, from documentation to loan approval and disbursement.
Quick and Transparent Process: There are no hidden or surprise fees during the process, and our involvement ensures a smooth transaction.
Personalised Assistance: The financial requirement of each customer is different. Whatever your financial condition, we can provide you with loan options that suit your economic requirements. If you are a salaried individual, a businessperson, or a property investor, we have something for you.
It is wise as well as handy to use a Loan Against Property to take advantage of the worth of your property. This way, you get the opportunity to availing hefty sums at a meager rate of interest, flexible repayment schedules, and absolute financial freedom.
Not only can you avoid the anxiety of bank comparisons and navigation of piles of paperwork, but you also save yourself loads of time and energy with 3SL Services — we are the ones to carry the burden of the process for you! From finding the right lender to ensuring quick approval, we make events seamless, fast, and worry-free.
3S Loan helps you achieve your financial goals with quick approval, a simple process, and trusted support at every step.