Loan Against Property in Pune

Loan Against Property in Pune

The 2nd largest city of Maharashtra, Pune is the home to some of the renowned companies and IT sectors. Termed as the ‘most liveable city’, Pune attracts thousands of individuals to migrate here.

Home to edifices of the Maratha Dynasty like Shinghad Fort, Shaniwarwada, and Lal Mahal, the cities rich history precedes its economic prosperity. Moreover, Maharastra government’s endeavour to create job prospects in small and medium scale industries; start-ups are making the city more likeable.

The property costs have also been on the rise owing to developments of that sort. Hence, residents of this city often seek to leverage this by opting for a loan against property in Pune.

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What Is Loan Against Property?

As the name suggests, a loan against property is a form of secured loan that is approved against mortgaging land or property. Ideally, this loan type is perfect for individuals looking for substantial funds for expenses like marriage, medical emergency, purchasing assets, etc.

 Some of the features of loan against property are-

  • Multi-faceted Usability As this credit line is secured in nature, borrower’s enjoy the privilege of spending funds without restriction. This makes it a convenient form of a loan against property for unemployed.
  • Loan Amount- Based on the property’s value, borrowers can get a substantial amount as loan. It is comparatively higher than that of unsecured loans.
  • Collateral- Borrowers get the option to submit the papers of either their commercial property or residential property as collateral. This feature makes it the perfect loan against property senior citizen
  • Interest Rate – As a secured loan, LAP removes the risk in lender’s eye. Highly eligible candidates can enjoy loan against property lowest interest rates.
  • Loan Against Property Calculator- Many NBFC’s offer loan against property calculator feature in their official site. This is again helpful to determine the land valuation and loan amount estimation.

Though the features seem borrower-friendly, yet the lengthy documentation and approval process makes it unsuitable during emergencies.

These are the list of documents that a potential borrower must submit to avail a quick loan against property Pune.

  • Documents proving ownership of mortgaged property
  • Identity proof like Aadhar card, Voter Id card, etc.
  • Address proof
  • Salary slip of the last three months
  • Income Tax returns filed
  • Bank Account statements for the past six months

Apart, from the mentioned documents, a potential borrower might have to submit some extra documents to avail an easy loan against property in Pune. This requirement varies according to a financial institution and its policies.

Nevertheless, all lenders need to appraise the resale value of the property to be mortgaged besides verifying the legitimacy of the document. These processes are fairly time-consuming. In the times of emergency, opting for a gold loan can be beneficial.

What Makes Gold Loan Preferable?

Check out a few reasons why a gold loan is a better alternative to a quick loan against property.

  • Only a couple of documents are required to avail this.
  • The tenure for loans against property takeover is often lengthy. A gold loan can be availed for a shorter period depending on the credit amount.
  • The quick disbursal of gold loan due to limited documentation enables the borrowers to rely on it during emergencies.
  • Availing a gold-backed can help in overcoming the liquidity crisis when running a business, which is unlikely in case of loan against land Pune.

If you landed on this page while surfing the net for an alternative to ‘loan against property provider near me’ searches, you have arrived at the right place. Our many industry-first features speak for why we are one of the most opted-for gold loan providers in Pune. 

What Makes Rupeek A Preferred Gold Loan Lender?

Some of our featured assistance in Pune are-

  • Doorstep Loan – Want to avail a gold loan without leaving your home? Well, Rupeek makes this desire a reality with the doorstep loan service. After you make an application on the official site, our loan executive contacts you to set a date for evaluation. After your KYC documents and gold assets are valued, the sanctioned amount is transferred into your account. This makes it more convenient and swift, unlike an instant mortgage loan Pune.
  • Affordable Interest – Disappointed with the interest rate on Loan Against land Pune? Then go for our gold loan, which offers you an economical interest rate that starts at 0.49% per month. This again substantiates ways to save more on the amount sanctioned against gold.
  • High LTV Ratio – Individuals can secure a loan as high as 80% of the value of their gold. It is comparatively higher than any other loan forms, even a loan against property in Pune in some cases.
  • Considerable Loan Amount- You can receive up to Rs. 1.5 crores against our gold-backed loan. Utilise the amount to meet any sort of expense quickly.
  • Gold Loan Calculator- Confused about the loan amount against the submitted gold? With Rupeek’s gold loan calculator, you can estimate this value without hassle. Moreover, this feature is operational on both android and iOS devices.
  • Repayment Schemes- Rupeek provides you with the flexibility to choose repayment schemesat your ease. You get the option to repay the loan monthly or choose to pay the entire amount however and whenever during the tenure.
  • Overdraft Feature- We offer a gold overdraft facility known as Rupeek Quick to existing customers. The borrower can avail fund on top of their existing Rupeek gold loan by submitting some supplementary gold. The funds are accessible 24x7, and customers need to pay interest only on that sum.

  • Less Documentation and Eligibility- You can avail a gold-backed loan without ITR and income proof in Pune via Rupeek. You just need to submit the KYC proof to avail our gold-backed loan.

Apart from these aforementioned, Rupeek offers borrower easy outstanding balance transfer option. The applicant needs to share their pledge card with our relationship manager who will brief about the rest of the process.

Localities In Pune Where We Extend Gold Loan Service

Are you looking for a gold loan as an alternative for Loan Against Property in Pune? These are localities where you can find us.

  • Kothrud
  • Swargate
  • Sadashiv Peth
  • Hadapsar
  • Viman Nagar
  • Lohegaon
  • Katraj
  • Vishrantwadi
  • Vadgaon Sheri
  • Nanded
  • Pashan
  • Parvati Hill
  • Aundh
  • Pimpri-Chinchwad
  • Lohogaon

Do you own property and desire to make the best use of it? Availing a Loan against property transfer can be a solution, but it comes with unfavourable variables.

Therefore, smart borrowers can choose Rupeek’s gold-backed loan from Rupeek to deal with immediate financial needs.

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Frequently asked questions

  1. How am I going to receive the sanctioned amount against the gold loan?

You will receive the loan amount instantly after appraisal of gold, document verification, and signing of a loan agreement. Our loan representative will visit your preferred address in Pune for this process.

  1. Do I need to submit documents of my land to avail a LAP loan?

Yes, you have to submit the copy of the mortgaged land’s documents to avail a loan against property.

  1. Can I avail a LAP without submitting bank account statements?

No, you have to submit bank account statement of at least six months for LAP.

  1. How can I apply for Loan Against Property?

You can check the financial institution's site to find the online application form. Existing borrowers can contact the relationship or loan manager to know the procedure.

  1. Can an unemployed person get a gold loan from Rupeek?

Yes, at Rupeek, we only check KYC documents and gold’s value. The applicant’s employment status is not a necessary criterion.

  1. Can I get a loan against my property in urban areas?

Yes, you can avail a LAP against land in urban areas. It is important to note that the loan amount disbursed will depend on the financial institution's policy and LTV.

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