Credit options like loan against property and home loans have always been the go-to options when in need of substantial financial assistance. Since both loan options have their share of pros and cons, individuals are often confused when it comes to selecting between any particular one of them. To gauge the better option between a loan against property and a home loan, prospective borrowers must … Continue reading Know The Key Difference Between Home Loan And Loan Against Property
Having the necessary set of documents that are valid and contains accurate information makes the process of availing a loan against property quick and hassle-free. Individuals should keep the documents required for a loan against property handy to help quicken the application and verification process. They must also meet simple eligibility criteria to apply for a loan against property. Here is the set of documents … Continue reading Essential Documents To Avail A Loan Against Property
According to UNESCO’s analysis, India accounts for the second-highest number of students studying overseas in different countries, after China. In recent years, since the number of students studying abroad has also increased, the demand for advances to fund education has also surged. With financial institutions offering credits like an education loan against property, the demand for funds has also been met, to quite an extent. … Continue reading How To Apply For An Education Loan Against Property And Why Is It More Beneficial Than Education Loan?
Education loans are unsecured advances that do not require pledging any collateral. If you are considering how to apply for education loan, you can approach any leading financial institution or NBFC. Here the credit amount can range from Rs. 20 Lakh to Rs. 25 Lakh.
Now, if the borrower’s credit requirement is much higher, he/she can opt for a loan against property. This credit facility requires you to pledge any of your assets as collateral. Depending on the LTV (loan to value) ratio, a loan against property for education can fetch you a handsome sum of up to Rs. 3.5 Crore.
Now, that you know what is education loan is and how it differs from a loan against property, take a look at why the latter proves advantageous.Continue reading “Why is a Loan Against Property Better than an Education Loan?”
You may take a loan against property either for personal use like wedding, medical bills, vacation or for business purposes. The best part is that the interest rates on loan against property are low in India. Apart from low–interest rates on loan against property following are the benefits that you may reap from tax exemptions: Under Section 24 of the Income Tax Act, the lid … Continue reading What is Income Tax Exemption on Loan Against Property in India?
A loan against property is a type of secured loan in which you can pledge for the important assets including your home, land, or the business premise for the purpose of availing funds. You can make use of the loan amount for addressing important needs including the expansion of your business, making the down payment while buying a property or home, funding your children’s education, … Continue reading What Are the Documents Required to Apply for A Loan Against Property?