The capital of two Indian states, Chandigarh is famous for its marvellous structures like Open Hand Monument, Palace of Assembly, Gandhi Bhawan, and Rock Garden of Chandigarh. Besides housing the UNESCO World Heritage Capitol Complex, the “City of Beauty” is a hub for government administrative bases, trade, as well as IT companies.
MNCs, including Infosys, TechMahindra, Dell, Quark, and IBM aid in employment of a part of the population, while the other part comprises retired government officials. In such a scenario, a loan against property in Chandigarh works perfectly as a financial product capable of addressing both groups’ credit requirements.
The most prominent features of a LAP that compel individuals to opt for one are as follows:
Although the above features make loan against property Chandigarh appear quite a borrower-friendly funding option, individuals must keep in mind its other properties as well, which contribute to this financial product’s disadvantages.
Although longer loan tenure ensures less hefty monthly EMIs, a financial product stretching till 15-20 years might not be a great option for individuals who are looking to save on interest.
A secured loan involving a high-cost asset like a house or land requires a lot of paperwork confirming the pledged property actually belongs to the applicant and can be employed to redeem outstanding dues in case of a default. This involves documents to support an individual’s credibility, including KYC, address proof, income proof, bank account statements, tax invoice and all property-related documents proving ownership.
Due to a far-stretched documentation process, applicants may have to wait for days before getting qualified for a loan against property in Chandigarh. Additionally, financial institutions take up considerable time to evaluate pledged assets and finalise the viable loan amount, which can further delay loan disbursal.
These disadvantages can sometimes outweigh this financial product’s benefits for individuals unable to conform to given requirements. In such circumstances, the closest go-to option for some looking for a mortgage loan is gold loan.
Following are some of the advantages of gold loan over loan against property Chandigarh.
An array of search results for “loan against property provider near me” might make it easier for you to avail instant mortgage loan Chandigarh, but it is advisable that you weigh the pros and cons of several lenders before choosing the best.
Rupeek Fintech is one such reliable gold loan provider which aims to make funds available to all loan seekers irrespective of their financial standing or employment. Read on to find more on the ways a Rupeek gold loan can favour you.
Here is a list of some of the most beneficial policies adopted by this Fintech company.
Although Rupeek extends its services to all major cities in India, many individuals might wonder which area-specific services to look for in the absence of a physical establishment. Well, worry not! You can avail our services from almost anywhere in Chandigarh.
Following is a list of key localities in Chandigarh where Rupeek follows its 30-minutes loan disbursal policy.
Besides the above areas, Rupeek plans to make its gold loan services available to more locations in Chandigarh, including rural areas with the reach of technology. If you are someone looking for a similar financial solution, apply for loan against property on the Rupeek website today.
Applicants need to produce their KYC documents, including voter ID, Aadhar card, passport, PAN card, or driving license. They also need to submit any one of the above, and a utility bill and lease agreement as address proof.
Individuals seeking a loan against property have to be within 21 and 65 years of age, must have a stable source of income, hold a pledge-worthy property to their name, and be of Indian residence.
No, unfortunately, our lending partners currently don’t accept gold bars or gold coins as collaterals. Applicants can avail finds only against gold jewelleries.
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