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

Loan Against Property in Jalandhar

Jalandhar or Jullundur is a major transportation centre, given the extensive rail and road network across the city. Known as a hub for sports equipment manufacture, Punjab’s third-largest city is also a major production centre for leather goods.

With fast-developing industries facilitating more employment, and construction of new multiplexes and posh living areas inviting in NRIs, living costs accelerate, and so do financing needs for an average individual. As a solution to such crises, loan against property in Jalandhar is widely considered useful.

Why Do People Opt For Loan Against Property In Jalandhar?

Mortgage loans’ most significant advantage that draws customers in for one is its miscellaneous usability. Banks and NBFCs do not monitor the purpose of availing such credit, which allows borrowers to utilise loan against property to:

  • Make a huge purchase
  • Renovate homes
  • Consolidate multiple debts
  • Finance a big-budget wedding
  • Pay for higher education
  • Fund medical expenses

Additional advantages of mortgage loan in Jalandhar besides zero end-use restriction include:

  • Applicant’s freedom of choice in terms of the type of property pledged.
  • Compared to unsecured loans, lower interest rates make a loan against open plot in Jalandhar a more affordable borrowing option.
  • Adequate loan value worth up to 75% of collateralised asset’s trending market value.
  • Substantially long tenure to take the burden off hefty monthly EMIs.

The disappointing fact is that the list of benefits of this method of external funding often falls short in the face of an elaborate verification process about property ownership details and an applicant’s creditworthiness. A direct outcome of such a stringent process is delayed loan approval, which can prove detrimental in situations demanding liquidity.

Additionally, loan against property eligibility mandates applicants to have the collateralised property to their name and have a stable source of income. This can deter individuals, unable to match any of these conditions, from availing funds from their search results of “loan against property services near me”.

In such circumstances, a gold loan can come in handy as an alternative secured loan Jalandhar.

How Is Gold Loan Different From Loan Against Property?

Refer to the following table to understand the benefits of gold loan as opposed to traditional loan against property in Jalandhar.

Particulars

Gold Loan

Loan against Property

Age

Above 18 years

21 to 70 years, may vary with the lender

Employment

Not required

Self-employed or salaried

Collateral

Doesn’t have to be in the applicant’s name

An applicant has to be its titleholder

Documentation

Only KYC and address proof

Stringent and elaborate

Tenure

Maximum 12 months

Lasts for 15-20 years

LTV

Up to 80%

Approximately 60%

Loan Approval

Usually takes a few hours

Takes longer

Additionally, gold items involve lesser risk of forfeiture than possessions as significant as a house or agricultural land. After you have made your mind opt for a gold loan, it is crucial to scrutinise all policies before choosing the best lender, and with the best offers on gold loan, Rupeek can easily claim that position on your list.

Why Is Rupeek Gold Loan A Profitable Funding Option?

Rupeek Fintech is an RBI-certified organisation, striving to make availing credit easy and affordable for all loan seekers. With Rupeek, individuals can enjoy instant mortgage loan Jalandhar and a bunch of other benefits listed below.

  • Receive the highest percentage of your gold’s value as credit with our LTV rates soaring as high as 80%. Check available loan amount against your assets with our gold loan calculator.
  • Rupeek offers different options of repayments for the convenience of borrowers with varying financial backgrounds. Applicants can choose to make monthly EMI payments or repay anytime with any amount within loan tenure.
  • Borrowers have the option to choose from a number of interest schemes with a loan against property lowest interest rate starting from 0.79% per month.
  • Online procedure of placing a loan request helps Rupeek provide instant gold loan at your doorstep and prompt loan approval and disbursal after a complete verification process.
  • Save up to Rs. 12,377 per lakh on interest payment by making a loan against property transfer to Rupeek with your existing pledge card.

In addition to these, Rupeek also offers extended credit line against additional pledged gold exclusively to its existing borrowers.

What is an Extended Gold Credit Line Facility?

Rupeek Quick is a gold overdraft loan facility, which lets its customers avail instant funds via their in-app wallet by investing additional gold items. No extra document is required for its approval since it is a top-up loan, and an added benefit is that borrowers only pay interest on the withdrawn loan amount.

Join our reputable customer base from anywhere in India, including Jalandhar, to avail these exciting offers and benefits.

Where In Jalandhar Can You Avail Rupeek Services?

Following is a list of the areas Rupeek provides its trusted services to, in Jalandhar.

  • Rama Mandi
  • Banga
  • Apra
  • Model Town
  • Phillaur
  • Dayanand Nagar
  • Goraya
  • Jalandhar Cantt
  • Jandu Singha
  • Lajpat Nagar

Apply for credit on our website today for the best loan against property services! Or contact our customer helpdesk for further enquiries.

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Frequently asked questions

  1. What documents do I need to submit to avail a loan against property?

Applicants need to produce all documents related to property ownership, and those proving their age, identity, address, source and history of income, as well as income tax returns. Additional documents may be required depending on the lender.

  1. Where are my gold items stored during loan tenure?

Post loan approval, your gold items are safely transported to the nearest partner bank branch in a GPS-secured bag. Rupeek ensures optimum protection of collateral by preserving them in said bank’s vaults under military-grade surveillance. Plus, gold ornaments are fully insured against accidents and theft.

  1. Is there any minimum or maximum limit to avail a gold loan from Rupeek?

Yes, Rupeek specifies the minimum and maximum loan amount to be sanctioned against gold items as Rs. 15000, and Rs. 1.5 crores, respectively.

  1. Can I use a mortgage loan to fund my daughter’s wedding?

Yes, you can apply for a mortgage loan to fund a wedding or any other utilities. Loan against property companies do not restrict the usage of such financial products in any way till the cause isn’t illegal.

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