Loan Against Property in Kochi

Loan Against Property in Kochi

Widely known as the ‘Queen of the Arabian Sea’, Kochi is a densely populated city in Kerala with a total urban population of more than 2.1 billion. With a plethora of tourist places like Folklore Museum, Santa Cruz Basilica, Chottanikara Bhagavathy Temple, Andhakaranazhi Beach, the city attracts a lot of ardent travellers every year.

The city is also home to significant business sectors, like the Kakkanad with construction companies, chemical industries, and IT companies constituting a considerable share. Amidst these significant economic and commercial developments, the city has become relatively expensive, often leading them to look for financial assistance. Therefore, a loan against property in Kochi comes as a secure and ideal solution to cope with unforeseen or sizeable monetary issues.

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Brief Overview Of Loan Against Property

Among all the secured options, borrowers generally apply for a mortgage loan since it allows them to avail a sizeable amount by submitting a residential or commercial property as collateral.

However, before you approach mortgage loan companies to avail the loan, there are certain aspects of a LAP you should be aware of:

  • Even though you can get a high loan value by pledging your properties as collateral, it also comes with extended repayment tenure up to 15-20 years, imposes a burden of interest on the borrowers. At times, the interest payable might even surpass the principal.
  • Borrowers must also submit a bunch of documents like income proof, ownership documents, bank account statements, etc. It is almost impossible to avail a loan against property without income proof or ITR in Kochi.
  • The value of the loan gets calculated after going through property documents, an inspection of the property, and verifying the applicant’s eligibility. Consequently, the process takes up a lot of time and leads to late approval of the loan.
  • Loan against property interest rates in Kochi is generally pretty moderate due to its secured nature. However, it also depends on the lending institution you opt for and some parameters set by them.

Due to all these shortcomings of a home mortgage loan Kochi, the beneficial aspects often get eclipsed, especially when borrowers are looking for an instant solution during a financial crisis.

A gold loan can be considered a better alternative to a loan against property in Kochi in such a situation since it does not trouble the borrowers with extensive documentation, lengthy approval, and stringent eligibility parameters. And with innovative facilities from Rupeek, gold loans make financing even more convenient.

A Gold Loan From Rupeek– A Smart Alternative

Gold has always been a metal of high value in India, somewhat reflecting in its ever-increasing price. Therefore, opting for a gold loan quickly brings you a considerable amount to support your monetary issues. Apart from that, some of the key benefits you can get from a gold loan are the lenient eligibility criteria and easy documentation procedure.

When it comes to Rupeek’s facilities, certain factors make it stand out among others.

  • Flexible Repayment Options: Apart from the traditional EMI option, you can also choose single bullet payment or partial payment option as per your convenience. Therefore, it gets easier to repay the money with Rupeek’s short repayment tenure.
  • Highest LTV: We provide up to 80% of the total asset’s value so that you can get a high value against your gold ornaments. You can also use our gold loan calculator to check the amount you are eligible for against your gold jewels.
  • Affordable Repayment: The pressure of immoderate mortgage loan interest rates can be dealt with Rupeek’s facilities. Here you can save a lot of money as our gold loan interest rate starts from 0.49% per month.
  • Quick Disbursal: Due to the simple documentation procedure, obtaining funds from Rupeek becomes automatically more comfortable.

Apart from these compelling features, Rupeek also ensures that our customers get a hassle-free experience while availing the gold loan, something absent with loan against property in Kochi. Additionally, our unique overdraft facility called Rupeek Quick provides an opportunity to withdraw funds any time you want. At the same time, the interest rate gets imposed on the used sum only, not on the total sanctioned amount.

Our Location Services In Kochi

In order to help our borrowers avail gold loans easily, we have our doorstep services available in the following locations:

  • Palarivattom
  • Kakkanad
  • Aluva
  • Airport Road
  • Kumbalangi
  • Perumbavoor
  • Muvattupuzha
  • Tripunithura
  • Willingdon Island
  • Infoparkkochi
  • Kalamassery
  • Mattancherry

So instead of searching for ‘loan against property provider Kochi near me’, avail a gold loan from Rupeek to fulfil your financial needs.

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Frequently asked questions

  1. Does the gold loan interest rate depend on the lending institution?

Yes, the gold loan interest rate is set by the lender and usually varies across different lending platforms. In order to get a clear idea about how the interest rate is calculated along with attractive schemes, you can directly contact the lender.

  1. Can I avail a loan against property in Kochi to buy my dream car?

Yes, a loan against property gives the borrower independence to use the funds to fulfil any financial requirement.

  1. What is the maximum credit amount I will get from Rupeek against the gold?

You can obtain up to Rs. 1.5 crores with Rupeek’s gold loan.

  1. What is the minimum age limit for availing a loan against property in Kochi?

For self-employed individuals, the minimum age limit for availing a loan against property is 24 years while for salaried individuals, the age limit stays between 18 - 60 years.

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