Loan Against Property
A Loan Against Property is a secured business loan where property is pledged as collateral. This type of loan provides financing based on a percentage of the property’s value, with repayment tenures typically ranging from 5 to 20 years. Your Loan Against Property interest rate can be fixed or reducing, depending on the lender and the specific terms of the loan.
What are the benefits of a Loan Against Property?
Some benefits of Loan Against Property include lower interest rates with larger business loan sanction amounts, along with the luxury to repay over a longer tenure. This type of loan also gives you tax benefits on interest payments and helps you manage your high-value expenses conveniently.
When is the best time to apply for a Loan Against Property?
The best time for a business to apply for a Loan Against Property is when you have a need for substantial business funds, such as for expansion, working capital, or debt consolidation, and when you have sufficient equity in the property to leverage as collateral. You should also consider the value of your property as a factor when making the decision to apply for a Loan Against Property
