Loan Against Property in Visakhapatnam

Loan Against Property in Visakhapatnam

Vishakhapatnam, or Vizag, is Andhra Pradesh’s executive capital and one of the state’s largest cities. The city is known for its breath-taking scenic beauty, attracting tourists year-round. Its proximity to the Bay of Bengal also makes it a significant financial hub. Over the years, IT has also blossomed as a prominent industry in Vizag.

The prosperity of the city is indeed striking, but the inflation in the price of goods and lifestyle items can pose challenges in meeting unbudgeted expenses. Individuals may require large-scale fund for significant expenses like marriage, medical cost, purchasing machinery, etc.

To that end, many opt for secured loan options like a loan against property in Vishakhapatnam.

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What Is The Purpose Of A Loan Against Property?

Most Indian households possess a residential or commercial property as an asset. This property’s value increases over time, making it the best form of investment. Moreover, they work as collateral when one applies for mortgage loan.

Some of the features of loan against residential property in Visakhapatnam are mentioned below.

  1. A loan against property for unemployed may be an ideal financing solution. A borrower receives substantial fund to start his/her business and create scope for earning.
  2. Individuals can avail a loan against property senior citizen to meet post-retirement expenses.
  3. Borrowers can collateralise their commercial or residential property for a loan. To estimate the value of their land, they can also use loan against property calculator available online.
  4. Loan against open plot in Visakhapatnam comes with high loan value, which is perfect for investments or substantial expenses.

  1. The Loan against property lowest interest rate ensures easy repayment, unlike other loan forms.

These features make the Loan against commercial property in Visakhapatnam preferable among youth desiring to start their business or address large-scale expenses. Though the loan variant seems convenient, yet the long list of documentation and risk factor can add bitterness to the liking.

What Are The Documents Required For Loan Against Property In Vishakhapatnam?

These are the list of documents that a potential borrower is needed to submit to avail a Loan against property agricultural land.

  • An applicant needs to submit their address proof
  • Salary slip of at least three months
  • Identity authentication like Aadhaar card, Voter’s Id card, etc.
  • Income Tax Returns
  • Documents proving ownership of mortgaged property
  • Bank Account Statements for the past six months

Apart, from the mentioned documents, a potential borrower might have to submit extra documents to avail a quick loan against property Visakhapatnam.

Besides, the loan disbursal process is often time-consuming and hassling. In some cases, the financial institution can lower the loan amount for old properties. When facing the mentioned issues, opting for a gold loan can be helpful.

Why Opt For A Gold Loan?

Here are some reasons to justify taking a gold loan. Take a look!

  • Since a borrower pledges gold assets as collateral, the overall costs automatically get abridged, and in return, he/she receives a higher value.
  • While the loan tenure for loans against property takeover is often longer, the gold loan can be availed for a shorter period.
  • There is no hassle of CIBIL score verification.
  • Nominal documentation and eligibility criteria.

Seems like a better alternative? You can even enhance these benefits by choosing Rupeek instead of searching for ‘loan against property providers near me’.

What Makes Rupeek A Desirable Gold Loan Lender?

Take a look at the various benefits that come with our gold loan in Vizag –

  • Loan up to Rs. 1.5 Crores

With sufficient gold, you can get a loan up to Rs. 1.5 crores with Rupeek. What’s more, there’s no usage restriction on the disbursed amount. Customers can use it for whatever purposes.

  • Gold Loan Calculator

With Rupeek’s gold loan calculator, you can estimate the loan value against gold without hassle. Know the loan you can get against your valuables if you already know its weight and purity or enter the preferred loan amount to check out the amount of gold you will need.

  • Repayment Schemes

Rupeek provides you with the flexibility to choose repayment schemes based on your financial capacity. You can choose to repay the sum at once, pay interest first and later the principal, or pay instalments as per your convenience. It’s also possible to repay via EMIs.

  • Overdraft Feature

Access funds from an extended credit line round the clock with our overdraft facility against gold, Rupeek Quick. Pay interest only what you use and save considerably on repayment.

Besides these, our gold loan interest rates start from just 0.49% per month, and we offer a shorter repayment period. Hence, individuals need not pay substantial interest on their borrowing with Rupeek.

Localities In Pune Where We Extend Gold Loan Service

Are you looking for a gold loan as an alternative for a loan against property in Vishakhapatnam? These are localities where you can avail our loan without ITR and income proof in Vishakhapatnam.

  • Andhra University
  • Simhachalam
  • Gajuwaka
  • Viman Nagar
  • Gopalapatnam
  • Madhurawada
  • Pendurthy
  • Akkayyapalem
  • Maharanipeta
  • Nad Junction
  • Kancharapalem
  • Mvp Colony
  • Port Area
  • Naval Dock Yard

A loan against property in Vishakhapatnam is ideal for large-scale, affordable financing. However, the long processing period makes the loan option unsuitable for emergencies. In that case, Rupeek is the lender you need. Avail our gold loan to make the best use of your gold assets and receive up to Rs. 1.5 crores within 30 minutes.

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Frequently asked questions

  1. What is the minimum loan amount Rupeek offers against the gold loan?

The minimum amount of loan you can avail from us against the gold loan is Rs. 15,000.

  1. What is the LTV ratio offered by Rupeek?

Individuals can enjoy a loan-to-value ratio of up to 80% with Rupeek.

  1. Is CIBIL score important for Loan Against Property?

Not all institutions check your credit score to sanction a loan against property. NBFCs predominantly determine a borrower’s eligibility partly-based on this factor. Individuals must have 650+ CIBIL score to qualify for a loan against property in Vishakhapatnam.

  1. What is the maximum LTV for a loan against property?

The loan amount a borrower can avail against their gold’s value depends on the lending institution. The maximum limit ranges between 75% - 80% across lenders.

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