Loan Against Property in Ludhiana

Loan Against Property in Ludhiana

Standing on the bank of the beautiful Sutlej River, Ludhiana is not just the largest city in Punjab but the largest in the north of Delhi as well. The city has been recognised as one of the easiest cities for business by the World Bank.

The city is home to Asia’s largest agricultural education institute, the Punjab Agricultural University. It also has the largest bicycle manufacturing hub in all of Asia as well as the first medical college in the continent for women, namely Christian Medical College.

With such a rich educational and financial background, the people of Ludhiana have always been ambitious. However, both higher studies and business require proper funding, but not everyone can provide that from their savings. To that end, a loan against property in Ludhiana can offer individuals the necessary financial assistance. 

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What Is A Loan Against Property?

It lets individuals leverage their property’s value to acquire funds. Apart from traditional banks, certain NBFCs also provide these loans. As these are secured, interest rates are also low. Moreover, the loan amount is significantly high when compared to a non-secured credit product.

It is wise to compare the features offered by different lending institutions when searching for ‘loan against property lenders near me’. However, a loan against property in Ludhiana is not the only secured financing facility with these advantages. Individuals might also benefit from a gold loan, especially when looking for quick funds.

How LAP And Gold Loan Are Different?

Though both are secured options, there are a few differences that make them suitable for varied use-cases. Their contrasting features can be understood from the following table.

Loan Against Property

Gold Loan

Approval time

Its approval takes an average of 4 to 5 days.

These loans get approved within a few hours. 

Required documentation

Property documents, income tax return papers, income proof etc. are required.

Applicants only need to submit KYC documents.

Repayment Tenure

The tenure can vary from 15-20 years in an average.

These credit products have short tenures, usually 12 months.

Loan Amount Eligibility

Depends on several factors, like applicant’s income, age, current fixed obligations, credit history besides the property’s resale value

Depends on the pledged asset’s value and applicable LTV

Apart from these differences, a gold loan is also more easily and quickly accessible compared to a loan against land in Ludhiana because of the former’s highly liquid nature.

Moreover, if you opt for our gold loan, you not just get the advantages mentioned above but an array of other exclusive benefits as well.

What Makes Rupeek’s Gold Loan Ideal?

Rupeek’s gold loan is the perfect financing option because of benefits like:

  • Instant Disbursal

Borrowers need to wait for at least 4 – 5 days to get a loan against property in Ludhiana sanctioned. However, one can fund credited to their accounts in just 60 minutes from the application with us. It lets them attend to emergencies without delay.

  • 80% LTV

With such a high loan-to-value ratio, our customers can avail the most out of their pledged gold and get adequate funds.

  • Wide Lending Range

Our credit facility is not just for people who are looking for high loan amounts. Our loan starts from Rs. 15,000 and goes up to Rs. 1.5 Crore. This way, even the smallest of needs can be fulfilled using our credit product.

  • Smart Repayment Schemes

Customers can choose to repay any way they want with our multiple schemes, unlike a loan against property in Ludhiana that mandates EMI payments. One can repay their loan flexibly by using methods like single bullet payment, interest pre-payment etc. or pay the usual EMIs.

  • 79% Interest Rate

We charge a rate of interest that starts from as low as 0.49% per month. This further helps our customer in repaying the loan without any added issues.

  • Gold Credit Line

Our customers can avail our convenient overdraft facility called Rupeek Quick and opt for an extended credit line. They get the liberty to withdraw as much as they want from their approved loan principal and pay interest only on the used amount.

Rupeek also offers doorstep services to all applicants in Ludhiana. If in urgent need of funds, our representative will reach the applicant’s residence in just 30 minutes. Our wide service network in Ludhiana allows us to provide such prompt services.

Where To Find Us In Ludhiana?

We are available almost in all the essential areas of the city, including:

  • Brown Road
  • Gill Road
  • Model Town
  • Mundian Kalan
  • Basant Avenue
  • Moti Nagar
  • Focal Point
  • Basti Jodhewal
  • Dhandari Kalan
  • Sarabha Nagar
  • Shimlapuri
  • Ferozpur Road
  • Shivpuri

A two-decade-long commitment might not seem much while applying for a loan against property in Ludhiana, but that will become a burden in the coming years. Why risk your peace of mind with such a long-term credit facility when you can get all of that from our instant gold loan? So, download our app and apply for the solution to all your financial needs.

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Frequently asked questions

  1. What is the eligibility requirement for a Rupeek loan?

We offer our gold loan without ITR and income proof to individuals who are older than 18 years old. This the only requirement to be deemed eligible for our credit product.

  1. Does Rupeek provide insurance on the pledged gold?

Yes, we provide 100% insurance on the gold ledged by our customers. The policy remains active for as long as the gold is in our custody.

  1. Where does Rupeek keep our pledged gold?

Your pledged gold is kept in a military-grade locker of our partnered bank located at a distance of 5 km from your residence.

  1. Can I get more by pledging a commercial property?

Usually, lending institutions offer a higher loan against property in Ludhiana if the asset in question is residential. Commercial properties are typically less liquid.

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