Loan Against Property in Faridabad

Loan Against Property in Faridabad

Described as the eighth-largest city of the region, Faridabad is the leading industrial city of Haryana. The city is also home to compelling attraction points like Suraj Kund Lake, Baba Farid’s Tomb, Shirdi Sai Baba Temple, CITM Lake, Dhauj Lake, etc. 

While the serene atmosphere and splendid architecture attracts many tourists every year, the industrial growth of Faridabad has witnessed lots of highs and lows over the past few years. With a fluctuating economy and escalating costs, managing finance gets relatively challenging in the city. Therefore, to deal with such problems, individuals often turn to a loan against property in Faridabad to meet their financial requirements. 

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Specific Aspects Of A Loan Against Property

A loan against property is a secured financing option that enables borrowers to gather funds against a self-owned commercial or residential property. Due to the secured nature and higher loan value, mortgage loans have become quite popular these days. Although before availing, one should be aware of its characteristics to properly utilise them.

Key characteristics of a loan against property Faridabad:

  • Real estate prices in Faridabad have escalated by leaps and bounds over the years. Therefore, getting a large amount becomes automatically easier. 
  • Your credit score is a key criterion; most lending institutions won’t accept your application if the credit score is below 650. 
  • Also, the income criteria have to be met to apply for this loan, and applicants must submit several documents along with that. It is not possible to avail a loan without ITR and income proof in Faridabad
  • The loan disbursal process often takes more than 4 days to complete since many document requirements are involved. Apart from that, the entire process inevitably gets lengthy because of the property’s present value appraisal, going through the paperwork, and sanctioning an amount accordingly. 

These are some attributes of a loan against commercial property in Faridabad that borrowers should be aware of before availing or researching ‘loan against property lenders near me’. Though the secured nature and high-value amount are some attractive perks one can get with LAP, the stringent eligibility criteria and so many requirements make it undependable during financial emergencies. Therefore, as an alternative, one can go for a gold loan.

A gold loan is also a secured option and offers features similar to that of a LAP. Besides, the eligibility criteria for it are less stringent, and one only a few documents are required for gold loans.

However, that’s not all one can enjoy by opting for a gold loan. With Rupeek, people can access a range of other advantages like LTV up to 80%, doorstep services, etc. 

Gold Loan From Rupeek – A Suitable Option For Borrowers

The restriction-free usage feature of a gold loan makes it easier for the borrowers to use the fund to meet any financial needs. Apart from that, Rupeek’s gold loan provides some other compelling benefits as well.

  • Lowest Interest Rate

Unlike traditional loans, a gold loan with Rupeek refrains from imposing a financial burden on borrowers. With the lowest interest rate that starts from 0.49% per month, Rupeek’s gold loan makes maintaining monthly instalments and repayments easier. 

  • Doorstep Services

To keep our customers away from the tedious manual procedure, Rupeek has come up with its instant doorstep service feature. With this facility, the entire process from KYC verification to loan sanctioning gets completed at the comfort of your home.

  • Quick Disbursal

The documentation procedure for Rupeek’s gold loan takes barely 45-60 minutes to complete. Unlike an instant mortgage loan Faridabad, our financial product ensures that the fund gets transferred to your account immediately. 

  • Gold Overdraft Facility

Our gold overdraft facility called Rupeek Quick allows existing customers to withdraw funds whenever they want to fulfil their financial requirements. Here the interest rate applies to the used sum only, not the total sanctioned amount. 

While mortgage loan interest rates and other factors usually vary from one lending company to another, a gold loan from Rupeek comes beneficial with such consistent facilities. Also, the lenient eligibility criteria and nominal document requirements are some reasons to rely on gold loans during emergencies. 

Locations In Faridabad Where Rupeek Offers Doorstep Services

We have extended our services to various parts of the country to help the borrowers out during a financial crisis. Here are some places in Faridabad where you can find our services by applying for a gold loan from our app or online portal:

  • Ballabgarh
  • Faridabad Sector 9
  • Faridabad Sector 16
  • Faridabad Sector 7
  • Faridabad Sector 48
  • Faridabad Sector 15
  • Faridabad Sector 29
  • Faridabad Sector 3
  • Faridabad Sector 8
  • Jawahar Colony
  • Faridabad New Industrial Town
  • Greater Faridabad

The reason to choose a gold loan instead of a loan against property in Faridabad is not only its easy documentation process but also the instant availability of the fund. Especially during emergencies, it makes a huge difference when arranging the fund instantly to get out of the crisis. 

So, deal with your crisis right away with the right kind of facilities offered by Rupeek!

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Frequently asked questions

  1. What are the documents that I need to submit?

The borrowers must submit KYC documents (anything among a driver’s license, Aadhaar card, Voter’s ID, PAN Card, or passport). Apart from that, a utility bill or lease agreement will be required as well. 

  1. Can I pledge any kind of gold item?

Except for gold coins or bars, our lending partners accept all kinds of gold jewels that are of 18 carats and above, and subject to valuation reports for any loan on gold.

  1. How much loan can I get against my commercial property in Faridabad?

The amount you can get depends on the location of your property. Besides lending institutions also check your age, stability of revenue generation, and business vintage.

  1. Can I get a loan against a rented-out property?

Yes, you can obtain a loan against property in Faridabad by submitting your let-out house as collateral.

  1. What is the minimum limit for availing a gold loan with Rupeek?

Individuals can obtain up to Rs.1.5 crore with Rupeek’s gold loan.

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