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

Loan Against Property in Rajahmundry

Located on the banks of Godavari River, Rajahmundry, or officially known as Rajamahendravaram, is a city in Andhra Pradesh. One of the oldest cities of India, Rajahmundry has witnessed many rulers and kingdoms.

Serving as the commercial hub of East and West Godavari districts, the economy of Rajahmundry is largely based on floriculture and heavy industries. With expanding markets, shopping centres and large-scale bullion market, people often take a loan against property in Rajahmundry during emergency cash requirements to meet both their business and personal requirements.

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Features Of A Loan Against Property (LAP)

Individuals can avail a loan against property in East Godavari or mortgage loan from banks, NBFCs and House Finance Companies (HFCs) against any residential or commercial property. As these loans do not feature end-use restrictions, individuals can use the loan amount as per their requirement (except illegal activities).

 Mentioned below are some of the features of loan against property services:

  • Since it is a secured loan, interest rates are lower than unsecured loans’.
  • The loan amount offered is higher in this case.
  • Repayment periods of LAPs can range up to 15 – 20 years.
  • Lenders check a person’s age, income level, source of income, employment type (salaried and self-employed), and credit score to determine their eligibility.
  • Applicants need to submit all papers related to the property to be mortgaged besides OVDs for KYC, income proof, proof of income stability, ITR documents, etc.

A loan against land in Rajahmundry can offer financial support to individuals during a major liquidity crisis. However, the involvement of extensive documents, property and ownership verification takes longer time to get completed. Individuals can check the specific range of documents and processing time when searching for ‘LAP providers near me’.

Moreover, financial institutions remain the conditional owner of the mortgaged property during the tenure. On top of that, while lenders easily provide LAP to salaried individuals, self-employed people with an experience of less than a year struggle to get a LAP during emergency cash requirement.

In cases like this, individuals can consider gold loan as a substitute to loan against property in Rajahmundry due to its hassle-free processing and many other beneficial features.

Gold Loan As A Substitute To Loan Against Property

Though both a LAP and gold loan are secured financing options, individuals need not provide a vast number of documents while applying for gold loans. Hence, lending institutions can approve gold loans much faster.

With gold loans, individuals can ward off their burden of paying EMIs quickly as these are short-term loans, usually ranging up to 12 months.

Besides these, individuals can benefit from a range of other industry-first features like doorstep service, door-to-door insurance with Rupeek.

Reasons To Avail Financial Services Of Rupeek

To help individuals tide over their financial crisis, we, Rupeek have come up with consumer-friendly repayment schemes and hassle-free gold loan procedure.

  • Quick Disbursal Up To 1.5 Crore: During emergency cash requirement, individuals can get access to loan amount up to 1.5 crores within 45-60 minutes.

  • Minimal Documentation: Opposed to LAP, the gold loan documentation of Rupeek includes only verifying the KYC documents. The lesser paperwork quickens the process of approval.
  • Doorstep Services: With Rupeek, individuals of Rajahmundry can enjoy doorstep instant gold loan services at a starting interest rate of 0.49% per month. The document verification, as well as gold appraisal, are conducted at the client’s preferred location.

  • Highest Per Gram Rate: At Rupeek, we offer the highest per gram rate. Individuals can evaluate the loan amount beforehand by using our consumer-friendly gold loan calculator.
  • Easy Repayment: Clients of Rupeek get the ultimate benefit of easy payment facility. They can select the monthly EMI option or pay as per their convenience any time within the gold loan tenure.
  • Gold Credit Line: Through our gold credit line facility, which is also known as ‘Rupeek Quick’, individuals can secure a credit line and spend from that limit as per their need.

The availability of gold loan provider plays a significant role during the financial crunch. That is why Rupeek has stretched its operation in all the major locations in Rajahmundry.

Rupeek’s Presence In Rajahmundry

Find us in the following locations in Rajahmundry.

  • Maredumilli
  • Draksharamam
  • Lakshmi Puram
  • Kadiyam
  • Mandapeta
  • Rampachodavaram
  • Ramachandrapuram
  • Konthamuru
  • Korukonda

Even though a loan against property in Rajahmundry is an exceptional means of large-scale financing, the lengthy processes can cause major disruptions when attending emergencies. Our gold loan offers the best solution in that regard with disbursal within 60 minutes and hassle-free application process.

Apply for a gold loan today with Rupeek and manage your expenses efficiently.

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Frequently asked questions

  1. What is the process of the interest payment with Rupeek?

Open the official website of Rupeek and go to the ‘Repay your Loan’ page. Enter your registered phone number and log in through the OTP sent to that number. Then select ‘Pay interest’ to complete the procedure. 

  1. Can I take a loan against property and gold loan at the same time?

Yes, you can take a gold loan while servicing a loan against property in Rajahmundry. However, lending institutions may be reluctant to sanction a LAP if you are already repaying a gold loan.

  1. Can I get a loan against open plot in Rajahmundry?

Specific lending institutions do offer a loan against an open plot. However, you need to verify this with the financier when researching.

  1. What payment methods do Rupeek offer?

Individuals can repay the loan amount or pay interest via our app or website through internet banking, debit cards, UPI or through mobile banking using RTGS/IMPS.

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