Loan Against property in Chennai

Chennai is a major city in the South of India. Many residents here look forward to get funds by taking loan against property. Such loans are secured and are offered by multiple banks and NBFCs. However, it is not necessary for a person to visit a financial institution personally to get the funds. Rather, the person can apply for property loan in Chennai online at loanbaba.com, which allows one to compare, select and apply for loan against property (LAP) from top financial institutions in the country.

Why Take Loan against Property in Chennai?

As Chennai is a metropolitan city, people have several expenses to meet with rising costs of goods and services. Here are some of the features of property loan in Chennai.

• People choose such kind of loan, because these carry lower interest rate than unsecured loans, and are easily approved by financial institutions.
• Moreover, Chennai property loan has maximum tenure (up to 15 years), and flexible EMI offers, which makes it much more feasible.
• One can apply for property loan in this city at loanbaba.com, and comply with the eligibility requirements related to submission of documents online and other necessities.
• After loan approval, the amount is disbursed quickly to the borrower’s bank account.
• Loan against property can be taken for several purposes, and there is no restriction as to how a person uses these funds.

Some banks or NBFCs may limit the use of funds from LAP, but there is still a wide-variety of purposes allowed, such as funding for expenses related to medical treatment, education, marriage,  business, purchase of a house, vehicle, and many other such aspects that require large amount of cash.

Best USPs of Property Loan in Chennai

• Get loan amount up to Rs. 5 crores
• Loan amount sanctioned is up to 70 percent of the property’s market value
• Average income individuals can also apply for this loan
• Different EMI and repayments options offered
• Quick funds without added collateral other than the residential or commercial property owned by the applicant
• Guarantor may not be needed
• Funds can be used for multiple purposes

As a platform to connect with loan against property provider in Chennai, loanbaba assists you to compare top banks such as SBI, ICICI, Axis and more. You can get all information about mortgage loan schemes in Chennai and loan against property interest rates in Chennai.