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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 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.
However, a loan against property also entails a few shortcomings that an applicant must know. These are –
But, that’s not the only difference between a loan against property in Bhopal and a gold loan. Read along to know more.
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.
Some of our well-received services are –
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.
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.
Here are some localities in Bhopal where we operate.
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!
Loan Amount
Tenure
Interest Rate
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Gold Weight
Gold Purity
Tenure
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Lending institutions accept two variants of properties, namely commercial/industrial and residential property.
Rupeek does not have any lock-in period. Hence, borrowers can use the funds instantly after disbursal.
Yes, you can take out our gold loan even if you are already servicing a loan against property?
At Rupeek, you can enjoy rebates on regular repayment. Moreover, timely and high repayment also increases the rebate amount.
No, you cannot get a LAP in Bhopal without submitting salary slips. Income proof and stability are vital determinants of your loan eligibility.
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