Mortgage loan | Loan Balance Transfer | Ruloans

MORTGAGE LOAN

 

 

A loan given against a certain percentage of the property's current market value is called as a Loan given against property. An individual can take a loan against property by mortgaging his personal or commercial properties. These properties must be under the individual's name. Since there is collateral involved, this is called as a secured loan.

Anyone right from a salaried employee, professionals and self employed individuals can avail a loan against property. The property being kept as collateral must be under the name of the applicant. Also, you can get around 40-60% of the property value derived by the bank as the loan amount.

Minimum Age of the applicant - 25

Amount (Min) - 1,00,000

Annual Percentage (Min and Max) - 10.99% - 21.25%*

Tenure - 1-15 years*