When you are in dire need of money and your savings aren’t sufficient to solve your monetary problem then you can borrow money from various banks and other financial institutions. You can break your cash emergency with the money that you already have in your house. We are referring to your property which you can use as collateral to secure a loan against property. Yes, if you have a property, you can consider opting for such loan to fund your financial needs. ShubhBank guides you “How Loan Against Property Works For You” when you are looking to borrow money for various reasons such as marriage, vacation, business growth, higher education and so on. So don’t let your property sit idle and address you sudden cash emergencies with this loan product. It is a type of secured loan that can be taken against self- occupied residence or a commercial property. Like a personal loan, it can be used for anything that one does not have to mention the reason to the lender, you can avail it for just about any financial need. Being a secured loan, it comes up with low interest rates as compared to other financial products. It is the darling among all loans for ease of getting one and cost effectiveness has won it everyone’s attention. The low interest rates to long periods of tenure have made it quite a popular choice among people.

Loan against property can be availed by salaried, self-employed individuals and professionals having a property registered in their name and free from any legal issue. The bank will take some time in evaluating the market value of your property, reviewing the legal documents and other background checks like your credit history and repayment capacity. The loan quantum is calculated as per the market value of the property. We loan a sum equivalent to 60-70% of your property value. When the loan is paid in full, you are returned with the ownership of your property. The advantage of this loan is that you can use the mortgaged property while repaying the loan. It is the easiest forms of lump sum money irrespective of the purpose for the money you require by pledging your property to a bank. Before applying, calculate your EMI to how it will affect your monthly budget. After that evaluate the loan cost you would going to pay and then zero in on the offer that gives you the best outflow. It means for converting your fixed asset as a source for emergency funds.

Mortgage loans are the cheapest retail loans making it one of the most affordable loan offering. Our valuation team will evaluate your eligibility criteria that are determined by your age, income, savings, debt obligations, value of your property and repayment track record for the other loan. The criteria will vary from bank to other with all the host of factors. There are set of documents required from salaried and self-employed individuals. The most common document to be submitted by each includes ID proof, latest salary slip/certified financial statement, Form 16/income tax returns, bank statement of last 6 months etc. you need to have all the relevant proofs and approvals so there would be no issues at the time of loan disbursal. We have a technical team to ensure your experience very easy and satisfying. It is proven to be one of the best ways of availing immediate funds.