Loan against property is also known as the mortgage loan. This is the secured loan, which is also taken for the personal use, but the thing is that we have to keep our property as security of collateral. Many times, there arise the need of funds but getting money is not that easy. The loan is the only option left. There are many kinds of the loans available like home loan, business, education and any many other loans are available. There are some loans where we do have to keep our property or any other thing in possession of bank until loan is not cleared. Loan against property or mortgage loan is that kind of loan.

Eligibility for loan against property

There is list of the documents, which makes you eligible for the loan against property. Below is that:

• Salary slips for salaried employees
• Bank account statement of the last 3 months
• Pan and aadhar card
• Valid address proof
• Copy of documents of the property that has to be mortgage

Salaried and self-employed people aged 25 to 70 years are eligible for loan against property. Laxmi Narayan Finance Provide such kind of loans in an attractive interest rates.

Features of loan against property

There are many things, which make it easy for a person to take such kind of love. Here are some benefits of taking loan against property:

• It can be used to for personal or business funding
• Money transferred to the account within 2 days
• The property should have to be on the name of the applicant or co-applicant. The property can be residential or industrial.
• The interest rates are very low because the property is in mortgage
• This has longer repayment tenure, which can be up to 15 years
• Any vacant of rented property can also be mortgaged

In addition, there are lots of the other features. If you need funds then Laxmi Narayan Finance helps you in that.