Loan Against Property: Interest Rate & Charges
Competitive Interest Rates | Nominal Fees | Zero Hidden Charges
Availing a loan against property on affordable terms is crucial to borrowing smartly. We understand this need and have tailored our loan to offer a pocket-friendly experience. The Poonawalla Fincorp Loan Against Property is offered at a competitive rate of interest and has some of the lowest fees applicable. What’s more, there are no hidden charges whatsoever, and we assure 100% transparency in all loan dealings.
Loan Against Property Fees And Charges
|Other fees and charges
Tips For Loan Against Property Foreclosure
A foreclosure is when you pay off the remaining outstanding loan amount in a single payment. When done right, a foreclosure can help you save a lot on interest, but must be done only after careful planning. Considering it is a large payment, it can have a significant impact on your financial health. To avoid any negative implications, follow these tips.
- Check the foreclosure charges
- Do a cost-benefit analysis to know your true savings
- Use an online foreclosure calculator when planning such payments
- Plan to foreclose as early as possible for maximum savings
Frequently Asked Questions
What is the starting rate of interest on a loan against property?
Poonawalla Fincorp offers a loan against property at some of the most competitive rates in the market. Our LAP interest rate starts at 9.5%, making this a cost-effective option.
How can I get the lowest mortgage loan interest rates?
- To avail the loan against property lowest interest rate and enjoy maximum affordability, follow these simple tips:
- Apply with a strong financial profile
- Pledge a property with a high market value
- Have a credit score of 750 or higher
- Meet all the loan eligibility criteria without any issues
Is there a way to reduce the mortgage loan interest payable?
- Yes. Some of the best ways to reduce the interest on loan against property are to:
- Negotiate for a lower interest rate
- Take a smaller loan amount
- Shorten the tenure
What is the processing fee chargeable on the Poonawalla Fincorp Loan Against Property?
We ensure an affordable experience, and only levy nominal charges on our loan against property. Here, you only have to pay a processing fee that ranges between 1% and 2% of the approved sanction, plus taxes.
Can I foreclosure the loan against property before the tenure ends?
Yes. You can foreclose with a single payment, with 4% charges on the principal outstanding.