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

Loan Against Property in Ghaziabad

Ghaziabad, the ‘gateway of Uttar Pradesh,’ is a part of NCR-Delhi. Home to business giants like Bharat Electronic Limited and Tata oil mills, the city is a major contributor to the state's economy.

It also hosts a range of small enterprises besides these large corporations, owing to a robust infrastructure and ease of doing business. Ghaziabad is a significant hotbed of opportunities for individuals across the state.

However, the high standards of living that entail such prosperity leaves little wiggle room for unbudgeted costs. Individuals can opt for a loan against property in Ghaziabad to address expenses of that sort.

What Is A Loan Against Property?

A loan against property Ghaziabad scheme is a personal financing option that is availed by submitting a residential or commercial land as collateral. It is perfect for dealing with significant expenses affordably due to its secured nature.

Following are the ways how loan against property transfer is helpful.

  • Business Owners

A borrower receives a considerable amount after submitting their land documents, making it a convenient liquidity source for operating an enterprise or purchasing machinery. By availing a loan against commercial property in Ghaziabad, business owners can plan excellent investments or product sales.

  • Senior Citizens

A loan against property senior citizen is suitable for managing post-retirement costs. Since a loan against property is free of any spending limitation, senior citizens can use this loan to meet a variety of expenses.

  • Farmers

Farmers can avail of a loan against property agricultural land to deal with financial needs like purchasing a tractor, marriage, education of their children, etc.

  • Salaried Individuals

Salaried people can also greatly benefit from a loan against property in Ghaziabad. They can use the funds for consolidating existing debts, renovating their home, wedding, travel, etc.

Another feature of a loan against property in Ghaziabad is that the secured nature helps in reducing the interest rate. This ensures healthy expenditure and generates more savings.

However, a loan against property also features certain limitations that individuals must know before applying. Primarily, a loan against property requires extensive documentation. The processing time is too extended because of property valuation procedures. Hence, it is not all ideal for exigencies.

What’s more, borrowers put at stake their property and can risk losing it shall they fail to repay the loan. All factors considered, borrowers may find more utility by considering a gold loan instead of this financing facility.

What Makes Gold Loan a Better Option Than Loan Against Property Ghaziabad?

The following table demonstrates the key differences between these two financing options.

Properties

Gold loan

Loan Against Property

Processing Period

Ideally, it takes only a few hours.

Can take up to 4 – 5 working days minimum.

Documentation

The documentation process is simple and hassle-free. An applicant needs to submit KYC documents to avail this loan.

A prospective buyer needs to submit a long list of documents.

● Identity proof like Aadhaar card, Voter’s Id card, etc.

● Address proof

● Salary slips of the last three months (if salaried)

● Income Tax Returns filed

● Documents proving ownership of mortgaged property

Bank statements for the past six months

Eligibility

An applicant must be at least 18 years or above to qualify

The age limit to apply for mortgage loan depends on the borrower.

Loan Amount

The loan amount is based on the value of gold in the market.

Here the loan amount is based on the property’s value.

Tenure

Ideally, a gold loan tenure can extend for 24 months. This helps in settling a loan quickly and lowering the interest rate.

A borrower can extend the loan tenure up to 20 years. This can increase the burden of interest payment.

This table substantiates that among secured loan variants, opting for a gold loan could be lucrative. If you have decided to apply for a gold loan and are searching for a trustworthy lender, then Rupeek is the one for you.

Why Borrowers Prefer Rupeek?

Rupeek has been serving customised gold loans to a range of customer profiles in Ghaziabad. Some of our renowned services are –

  • Doorstep Loan

Rupeek gives you the privilege of doorstep loan service. After you make an application with us, our loan executive reaches your residence or office per your convenience regarding the document authentication. After your KYC documents and gold assets are valued, the sanctioned amount is transferred into your account.

  • Reasonable Interest

We bring you affordable interest rates that start at 0.79% per month. This again helps the borrowers to save more on the amount sanctioned against gold.

  • Sizeable Loan Quantum

Borrowers can secure a loan as low as Rs. 15000 and as high as Rs. 1.5 crores with Rupeek. They can utilise the loan for a variety of purposes since there is no end-use restriction. Such a vast range ensures customers are not saddled with unnecessary debt or required to turn to a parallel option for additional funds.

  • CIBIL Score

In the case of a gold loan, a borrower needn’t worry about CIBIL score or creditworthiness, unlike the mortgage loan bad credit stringency.

  • Repayment Schemes-

Rupeek offers you several schemes to repay the loan. You get the preference to repay the loan monthly or choose to repay the loan at your convenience any time within the tenure.

  • Outstanding Balance Transfer

Rupeek offers borrowers an easy balance transfer option. One can save up to Rs.12377/lakh by choosing to transfer their outstanding balance to Rupeek. Interested individuals can submit their existing pledge card and other necessary documents to our company representative after applying online.

Besides these, Rupeek also offers an added benefit to its existing customers. They can use this facility to address liquidity concerns at any time.

Gold Overdraft Facility In Ghaziabad Offered By Rupeek

This facility allows borrowers to avail a credit line on top of their existing gold loan with Rupeek. The borrowers need to submit some supplementary gold to avail this facility. The sanctioned amount is directly transferred into borrower’s wallet in the Rupeek app from where it’s accessible round the clock. In terms of interest payment, you get the facility to pay only on the amount used, nothing extra.

Our 24x7 Rupeek Quick section is one click away. Get doorstep service in just 30 minutes because of our strong presence in nearly all the localities in Ghaziabad.

Rupeek’s Operational Locations In Ghaziabad

  • Raj Nagar Extension
  • Mohan Nagar
  • Crossings Republic
  • Sahibabad
  • Vasundhra
  • Loni
  • Vaishali
  • Meerut Road
  • Shastri Nagar
  • Indirapuram
  • Kaushambi
  • Govindpuram
  • Tronica City
  • Kavi Nagar

Are you searching in Google with the keyword ‘loan against property lender near me’? Why not go for a gold loan that is borrower-friendly and offers multiple financial benefits. With Rupeek, availing funds is a matter of 30 minutes.

So, plan your spending wisely and avail the right form of secured loan.

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Frequently asked questions

  1. How can I calculate the loan amount offered against my land?

Ideally, the loan amount is based on a financial institution’s policy. One can check the loan amount by using the loan against property calculator available online.

  1. What are the documents specified for salaried employees taking a LAP?

An applicant needs to submit general documents for KYC and income proof like salary slips, Form 16, and bank statements. This requirement can vary according to the lender.

  1. What is the security structure followed by Rupeek on gold items?

We follow ISO 9011:2015 certified process when disbursing the gold loan. Your gold gets fully insured against accident or theft during the tenure. Moreover, the items are stored in bank vaults under round the clock surveillance.

  1. What is the tenure for a loan against property?

The maximum tenure depends on the lending institution. Usually, it extends up to 20 years or 240 months.

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