Loan Against Property in Madurai

Loan Against Property in Madurai

Renowned for its Meenakshi temple, the cultural capital of Tamil Nadu is a significant tourist spot with heritage structures like the Thirumalai Nayak Palace and Gandhi Memorial Museum. Besides agriculture, Madurai is a hub for automotive businesses like Maruti Suzuki, Ashok Leyland, KUN BMW, and Mahindra.

The city also comprises campuses of software companies like Honeywell and HCL Technologies, contributing to a major settlement of employed individuals and business owners. To help them keep up with the demands of living in such a robust economy, loan against property in Madurai comes to the rescue.

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Uses Of Loan Against Property

Probably the most striking feature that makes more individuals turn to mortgage loans instead of unsecured loans is the much-relaxed eligibility involved. Additionally, financial institutions don’t exercise any control over its end-use, which enables borrowers to utilise credit to finance all sorts of requirements like:

  • Costly purchase
  • Multiple debt consolidation
  • Renovating houses
  • Medical expenses
  • Wedding expenses
  • Foreign trips

The only matter of concern with a loan against open plot in Madurai is the rigid list of documents required.

Documents Required To Avail Loan Against Property In Madurai

Applicants need to submit the following list of documents to qualify for a loan against property transfer to their accounts.

  • Identity proof involving passport, Aadhaar card, voter ID, PAN card, or driving license
  • Lease agreement, utility bills, and any one of the above as address proof
  • All property ownership records
  • Employment and income proof
  • Transaction details for the past 6 months
  • ITR documents

Seems like too much of a hassle?

Then gold loan might be a better alternative to a loan against property in Madurai.

Gold Loan – Advantages Over LAP

Anyone looking for a secured loan without ITR and income proof in Madurai can benefit the most from a gold-backed credit. This type of loan delivers all the advantages of conventional mortgage loans while cancelling out its negatives, which is a big win for borrowers. Such additional gold loan benefits include relaxed documentation, faster loan disbursal, and lesser risk of asset confiscation.

Rupeek fintech is one such gold loan provider serving in Madurai with instant mortgage loan Madurai. With borrower-friendly policies, we aim to deliver the best experience in response to your ‘mortgage loan provider near me’ searches.

Rupeek Gold Loan Benefits At A Glance

Have a look at some of our most lucrative features.

  • With Rupeek, borrowers can avail funds up to Rs. 1.5 crore at the lowest loan against property interest rates in Madurai, starting from 0.49% per month. They also have the facility to check available funds against their gold ornaments using a gold loan calculator.
  • Our multiple loan schemes are formulated in a way to aid individuals with varying financial backgrounds.
  • Borrowers can also choose from repayment options of monthly EMIs or anytime-anyhow repayment within given tenure.
  • Individuals can also avail Rupeek’s loan transfer facility and save up to Rs. 12,377 per lakh on interest payment.
  • Additionally, Rupeek lets you avail all these benefits from the comfort of your home with an instant online gold loan at your doorstep, which aids in a further speedy loan disbursal.
  • A bonus benefit for existing Rupeek customers is a gold loan overdraft facility titled Rupeek Quick, which allows them to pledge additional gold to avail instant funds in their Rupeek wallet any time after that. Plus, borrowers only need to pay interest on the withdrawn loan amount.

Enjoy the benefits mentioned above of our services with 30-minute disbursal in select areas of your city.

Rupeek’s Areas Of Service In Madurai

  • Kamarajar Salai
  • Vadipatti
  • Thiruparankundram
  • Vilakkuthoon
  • Palanganatham
  • Madurai Main
  • Alanganallur
  • Tirumangalam
  • Anna Nagar
  • Tirunagar
  • Sholavandan
  • Othakadai

A loan against property in Madurai is a suitable financing option when in need of substantial funds. But, the slow approval and disbursal process makes it ill-fit for dealing with emergencies. Rupeek’s gold loan can be a saviour in that regard with 30-minute disbursal, sizeable loan amount and interest rates as low as 0.49%.

So, avail a loan against property today from Rupeek and enjoy the best of deals!

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Frequently asked questions

  1. What are the parameters to qualify for a loan against property in Madurai?

You need to be approximately 21-60 years old, hold undisputed ownership of the property, and have a steady source of income and 650+ CIBIL score.

  1. How long does mortgage loan tenure usually last?

Mortgage loans usually come with a long repayment tenure stretching till 15-20 years, depending on the lending institution.

  1. Can I get a gold loan on top of a LAP?

Yes, you can avail a gold loan even when you are already servicing a loan against property. However, all lending institutions might not permit the same.

  1. Do I have to pay any prepayment penalties for early payment?

Rupeek does not mandate a lock-in period for sanctioned gold loans. This also means that borrowers have the freedom to repay and close a loan amount before the end of given tenure, without paying any prepayment penalties.

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