Kochi: Property secured loans are becoming more and more popular among entrepreneurs. Loans against the purchase of a house, flat or land come under this category of LAP. One of the best features is that borrowers can use the property even when it is secured.

Jagdeep Mallardy, Chief Business Officer, Piramal Finance, said that these property-backed loans are a great way for business growth as they have high loan amount and low interest rates. He added that various options should be evaluated and selected keeping in mind the business objectives and economic conditions.

A relatively low interest rate of around eight percent per annum is charged for loans against property in India. It also facilitates loan repayment. Here the ownership of the property is not lost forever as in the case of sale.

Value of the property, Credit History, The loan amount will be decided based on the income of the borrower. NBFCs of property value 65 Loans will be given up to percent. Loans up to 5 crore rupees are sometimes granted. For a loan of Rs 750 From Rs 900 Monthly repayment upto Rs.

of Income Tax Department 37 (1) A number of benefits including exemptions on interest and related fees as per the section of the property Collateral loans are available. At the same time, after evaluating the other possibilities in front of you, you should take advantage of property collateral loans. It can also use tools like property calculators.