What Is Loan Against Property?
Loan Against Property is a loan that is offered against your residential, commercial, or industrial properties. These loans are secured loans as you have to put up your property as collateral. You can apply for a Loan Against Property for up to ₹5 Crore.
You can use the borrowed funds for various purposes. Some of the use cases of Loan Against Property include home renovation, funding higher education, consolidation of high interest debt, covering medical expenses, and funding major life events such as weddings. These loans are secured but there are no end-use restrictions. Borrowers can utilize the funds as per their requirements.