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

Loan Against Property in Karimnagar

Situated on the banks of Manair River, Karimnagar is one of the fastest-growing cities of Telangana. The economic activities of this city are primarily based on granite quarries. Agriculture is also a significant contributor to its economy. Elgandal Fort and Manair River dam are two of the notable places to visit in this city.

Besides day-to-day expenses, individuals in this city need to attend to several unforeseen expenses and big-ticket costs like medical emergencies, wedding, and debt consolidation. They can use a loan against property in Karimnagar to deal with expenditures of that sort effectively.

Features Of A Loan Against Property

Here are the notable features of loan against property Karimnagar that makes it a preferred credit option for borrowers –

  1. Being a secured loan, the eligibility criteria of instant mortgage loan Karimnagar are lenient, and one can easily fulfil them.
  2. The sum one can obtain by applying for a quick loan against property Karimnagar is typically high. It depends on the market value of the respective property.
  3. The LTV ratio of loan against property ranges between 40% - 75% of the total property value.
  4. The absence of any restriction on the usage of funds allows you to fulfil an array of financial requirements that you may have.
  5. Moreover, the tenure for an easy loan against property in Karimnagar can go up to 20 years. It makes the EMIs more affordable, but interest payable gets increased.

Since a loan against property is a secured credit option, the repayment costs of this financial product are low. However, the lengthy approval process (at least 4 days) often makes it challenging to manage financial exigencies with this financing option. In this regard, gold loans offer a potent alternative. 

Gold Loans – An Alternative Option

Gold loans provide benefits similar to that of a loan against property, but against more favourable loan terms. In the case of gold loans, the application to disbursal process is swift, and it takes only a few hours.

Moreover, the loan tenure of gold loans is shorter, which means the interest burden is lower in this case. Also, a gold-backed financing option does not require one to satisfy stringent criteria or submit income proof, making it an ideal alternative to a loan against property for senior citizens.

In a nutshell, gold loans are more accessible than a loan against property. However, selecting a reliable lender is essential to have a pleasant borrowing experience. In this regard, Rupeek is a trusted name. It offers a host of customer-friendly benefits to make borrowing an effortless affair.

Benefits Of Selecting Rupeek

Rupeek, being one of the leading gold loan providers of India, offers a host of customer-focused benefits. One of the prominent ones is the low-interest rate that starts from just 0.79% per month. It makes loan repayments affordable.

Apart from that, here are other notable benefits of Rupeek –

  1. Flexible Repayment Plans

To make the loan repayments even more accessible, Rupeek has introduced different repayment schemes. It includes regular EMIs, or you can pay as per your suitability.

  1. High LTV Ratio

The loan-to-value ratio offered by Rupeek is one of the highest in this segment. It can go up to 80%, allowing you to avail more funds against your gold jewellery. With Rupeek, you can now avail up to Rs.1.5 crore.

  1. Loan Balance Transfer Facility

At Rupeek, we also offer hassle-free and straightforward loan transfer facility. Once you share the existing pledge card with our representative, they will guide you through the process. With this balance transfer, you can now save up to Rs.12,377 per lakh.

  1. Overdraft Facility

We also offer a credit line to increase our customer convenience. Termed as Rupeek Quick, it allows our existing customers to pledge more gold and gain access to this overdraft facility. They can avail funds as per their will and are liable for interest payment on the sum used.

Our 30-minutes doorstep service increases customer convenience further. We are present in all the prominent localities of Karimnagar, which allows us to offer such prompt services.

Rupeek’s Top Service Localities In Karimnagar

  • Kothapalli
  • Gangadhara
  • Elgandal
  • Thotapalli
  • Jawaharnagar
  • Pullur
  • Mukharampura
  • Choppadandi
  • Manakondur
  • Jammikunta
  • Ramadugu
  • Ramnagar

Loan against property in Karimnagar is one of the most accessible financing options available in the current market. However, the lengthy documentation process often becomes a hurdle here. In this regard, a gold loan is a potent alternative. Moreover, with Rupeek, you can now get funds at your doorstep within just 60 minutes.

So, stop searching for ‘loan against property lenders near me’ and opt for a gold loan.

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Frequently asked questions

  1. How to apply for a gold loan with Rupeek?

You can quickly apply for a gold loan from Rupeek via an online application process. Once you initiate a loan request, a company representative will contact you for further processing. Following that, a loan manager will visit your address for document verification and appraisal of gold. Once they are content with everything, you will receive the loan amount instantly.

  1. What are the eligibility requirements to avail funds from Rupeek?

Individuals who are of or above 18 years and possess gold jewellery can avail funds from Rupeek. Also, one needs to submit only the KYC documents to avail funds from Rupeek.

  1. Can I avail a loan against property agricultural land?

Yes, you can avail a loan against agricultural land. However, not all lending institutions facilitate this.

  1. What are documents required to avail a loan against property in Karimnagar?

The list of documents you need to submit to apply for LAP includes KYC documents, income proof (salary slip for salaried individuals and bank account statements, balance sheet, income statements for self-employed individuals), property documents, and ITR papers.

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