close btn

Service Update- (Covid-19)

In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

Loan Against Property in Bhopal
loan-against-property-in-Bhopal

Loan Against Property in Bhopal

Bhopal, nicknamed the ‘City of Lakes’, is the capital of Madhya Pradesh. Located at the heart of India, the city boasts a rich historical and commercial significance. It is home to sites like Taj-ul-Masjid, Van Vihar National Park, and Rabindra Bhavan.

Even though living in Bhopal is relatively inexpensive, unforeseen situations or large-scale undertakings can strain one’s savings. Instead, people can consider a loan against property in Bhopal to mitigate cash shortfalls.

Loan Against Property – Features And Limitations

Loan against Property in Bhopal, as the name suggests, is a secured loan availed against collateral. The borrower gets the option to choose from residential or commercial property to pledge.

Following are some of the benefits of availing a loan against property Bhopal.

  • Loan against residential property in Bhopal comes with no-end usage restriction, making it apt for big-scale expenditure.
  • The application of loan against property senior citizens is simple and can be done online without leaving one’s premises.
  • Borrowers get funds against their property based on applicable LTV. Ideally, a loan against property value ranges between 60% - 75%.
  • Loan against property agricultural land being secured in nature comes with a low interest rate. This paves the way for efficient saving and improves the CIBIL score for future loan endeavours.
  • One can use an online mortgage loan calculator to check out beforehand the amount they are eligible for against gold.

However, a loan against property also entails a few shortcomings that an applicant must know. These are –

  • There is a chance of receiving a lower loan amount if the property age doesn’t suit a lender’s policy.
  • A borrower with a CIBIL score below 650 cannot apply for a loan against land Bhopal. This factor might vary across lenders. Hence, individuals may want to check this while searching for ‘loan against property lenders near me’.
  • The processing period is lengthy compared to unsecured variants and even secured ones like a gold loan.

But, that’s not the only difference between a loan against property in Bhopal and a gold loan. Read along to know more.

Loan Against Property Vis-À-Vis Gold Loan

The following table illustrates a few points where these two personal financing options differ.

Properties

Gold Loan

Loan Against Property

Documentation

OVDs for KYC and a handful of other documents

Besides the basic papers, one needs to submit documents pertinent to property ownership and income proof & stability.

Eligibility

A borrower needs to be 18 years and above

Shall meet financier-specific parameters concerning age, income, earning stability, FOIR, etc.

Loan Tenure

Maximum 24 months

The tenure can extend up to 20 years

Loan Disbursal

Quick disbursal; may take a few hours maximum.

Here the disbursal can take up to 4 – 5 days.

What’s more, unemployed individuals cannot take out a loan against property in Bhopal. But with Rupeek, one can secure funds irrespective of their occupancy status. Besides this, we offer a host of other customer-friendly benefits.

Why Should You Opt For Rupeek In Lucknow?

Some of our well-received services are –

  • Enjoy top-notch convenience with our doorstep loan. Our loan representative will be at a place of your convenience within just 30 minutes. After your KYC documents and gold assets are valued, the sanctioned amount is transferred into your account instantly.
  • Service your loan at an interest rate as low as 0.79%. This again helps the borrowers to save more on the amount sanctioned against gold.
  • Rupeek provides you with multiple schemes to repay the loan. You can pay the due sum as per your convenience by the tenure’s end or choose to pay monthly.
  • Rupeek offers borrowers an easy balance transfer option. You can avail this feature by sharing your pledge card with our relationship manager.

Apart from these benefits, you can also utilise our gold overdraft facility, Rupeek Quick, for meeting all sorts of financial obligations instantly round the clock.

What Are The Features Of Overdraft Facility From Rupeek?

Our existing customers are entitled to an overdraft facility against gold. Borrowers can take out a credit line by pledging extra gold ornaments and access funds from it anytime. Moreover, you save substantially on interest with this facility as it’s only levied on the amount you use.

Where Does Rupeek Provide Services In Bhopal?

Here are some localities in Bhopal where we operate.

  • Jahangirabad
  • Gandhi Nagar
  • Bairagarh
  • Bagh Swaniya
  • Arera Hills
  • Bhel Town
  • Kolar Road
  • Vallabh Bhawan
  • Govindpura
  • Chuna Bhatti
  • Anand Nagar
  • Kohefiza

Thus, potential borrowers in Lucknow can easily avail this loan without ITR and income proof in Bhopal with Rupeek. Unlike LAP, our documentation and disbursal are minimal and swift.

So, make the best use of your gold assets today and enjoy maximum convenience!

Rupeek ad

Gold Loan Calculator

Frequently asked questions

  1. What kind of property is accepted for a loan against property?

Lending institutions accept two variants of properties, namely commercial/industrial and residential property.

  1. What is the lock-in period maintained by Rupeek?

Rupeek does not have any lock-in period. Hence, borrowers can use the funds instantly after disbursal.

  1. Can I get a gold loan along with a loan against property?

Yes, you can take out our gold loan even if you are already servicing a loan against property?

  1. What is the rebate policy followed by Rupeek on gold loan?

At Rupeek, you can enjoy rebates on regular repayment. Moreover, timely and high repayment also increases the rebate amount.

  1. Can I get a loan against property without salary slips?

No, you cannot get a LAP in Bhopal without submitting salary slips. Income proof and stability are vital determinants of your loan eligibility.

Rupeek ad

Apply now for 30 minutes doorstep service#

+91
Please enter valid Mobile Number
gold img
Apply for Gold Loan 30 Minutes Doorstep Service
close
+91
Please enter valid Mobile Number
close
success img

Loan Request Successful

Your request has been received, our customer relationship manager has been notified and will call you shortly