A loan against property will allow you to borrow funds against your existing residential or commercial property to meet your needed expenses. The amount of loan you borrow is dependent on numerous factors, including the value of your property. According to this, the individual borrowers are free to use the funds as they like. Once you have applied for this loan, the property acts as collateral for the loan. However, you can continue using it like before.
Kridha Cashwave is here to guide you with customized property loans based on your needs. The only requirement is that you must be salaried or self-employed. Leave the rest to us since we will offer the best product for you. Our entire process is smooth and ensures a hassle-free experience for each new client. You can always approach our support team if you need any answers to any queries you may have. You are always welcome to contact us via phone or email. Hurry up and apply for a Loan against Property today with us, and we will bring you the most beneficial offers.
Features of our Loan against Property
You have a rough idea regarding a Loan against Property, which is a secured loan in which your property, be it residential or commercial, is taken as collateral. Know the features of our Loan against Property.
- You will get high loan amounts
Our loan against property is here to offer you the best substantial loan amounts after examining your property's value.
- You will get flexible repayment terms
We allow our borrowers to repay their loans anywhere between 12 and 180 months. You can now be flexible in choosing a repayment tenure that fits your comfort.
- Multipurpose Use
By applying for our loan against property, you can use our funds for diverse purposes. You can either use them to invest in yourself or for debt consolidation.
- Property Ownership
To apply for our property against the loan, you must ensure that your property is debt-free and solely belongs to the applicant. If your property is owned by more than one person, all the co-owners will be titled as the co-applicants for the loan.
Perks of choosing Kridha Cashwave for Loan against Property
Thousands of clients have trusted us and approached us with their problems. We are glad to help each of our clients. We will share some perks of contacting us with you!
- We provide loans against properties of up to 4 crores
We have been serving our clients with loans up to 60% of their property's market value. Since we are responsible for providing loans up to 4 crores, we let you fulfill all your business and personal needs without many complications.
- Minimum interest rates
Kridha Cashwave is here to provide you with the best interest rates on loans against property in the market. We guarantee that our loan against property will boost your benefits. Our flexible repayment tenure period will help you sort out your finances per your needs.
- Receive High LTV on market value (commercial and residential properties)
You are promised the best value by availing yourself of our mortgage loan product for residential or commercial properties. Discard all your worries, as you can use these funds for business or personal needs.
- Our loan process is convenient and transparent.
With our loan against property funds and services, you are promised to get funds at the maximum speed with 100% transparency. We are available via phone and email to guide you with any issue or help related to loan options and interest rates.
- We choose personalized products for your needs.
We are not limited to a specified loan. We have different Loan against Property products to suit all your needs at various life stages.
- Easy documentation and quick disbursal
Our entire loan application process is seamless. You are promised the smoothest experience from contacting us until you fulfill your needs. Our online loan application process will quickly give you the best loan against property.
Steps to apply for a loan against property
The steps involved in applying for a loan against property are too simple and straightforward. Take a look.
- First, visit our website. Then, go to the following page and select "Loan against Property."
- You need to choose the accurate option whether you are salaried or self-employed.
- You will now be taken to fill out an online form.
- Here, enter the necessary details, such as the loan amount required, name, location, and phone number, and submit it.
- Now, you will be guided by our representatives on the next steps.
- We will check whether you are eligible, verify the property, and review the documents. Once we approve you, you will sign a loan agreement, and then you will get your loan.
Documents you need to keep ready
To apply for our loan against property, you must undergo the above mentioned processes and submit your identity documentation.
- You need an Aadhaar card, passport, or driving license.
- Address Proof: Utility bills, rental agreements, or any valid document will work to confirm the current residence.
- Income Proof: You can submit your salary slips, income tax returns, or statements related to business income.
- You need to submit the documents of the pledged property.
- Bank Statements: You must provide the statements that state your financial transactions and stability.
- For the rest of the other, depending on various lenders, you will be requested to submit additional do based on their requirements and policies.
FAQs
What is a loan against property from Kridha Cashwave?
Any type of loan that you borrow against a residential or commercial property can be invested for personal and business uses. In short, loans against property can be used for anything except for non-prohibitive activities.
What is the tenure for a loan against property?
Loans against property come with maximum repayment tenure of 15 years. However, it has a proper condition that it should not exceed your retirement age. Sometimes, we add further flexibility in certain cases.
Does credit score matter in loans against property?
Yes, when it comes to lending any sort of loan, a credit score plays a significant role in showing the numerical representation of your creditworthiness. Using this score, a lender examines the risk of lending to you. In simple words, a high credit score means minimal risk. Hence, you are at a high risk of getting a loan against a property loan.
Do we get higher loan amounts with loans against property?
Yes, the loan amount dispersed with a Loan against Property tends to be pretty high compared to that of an unsecured loan. The collateral's value allows borrowers to access substantial funds to fulfill their needs.
How is my loan against property decided?
The loan amount you can obtain through a Loan against Property greatly depends on the property's overall value. You can enjoy a loan amount that ranges from 50% to 55% of the current market value of your property. The lender will carefully assess your overall property's value and then grant you a loan.
How do I know about my eligibility and EMI related to loans against property?
Before you approach any company for a Loan against Property, you must have complete knowledge regarding your eligibility for the loan and the EMI you will be asked to pay as your repayment. To make things easy for you, many online financial tools will assist you in this process.
Do I need insurance for the property that I will use as a loan against the property?
Yes, to use a property for loan against property, your property must be insured for fire and other calamities during the entire loan period. You might even need to provide us with all your insurance documents for the property every year or whenever you need them.
Am I eligible for a loan against a property owned by my relatives?
Yes, you can apply for a loan against property owned by my relatives only if they are also co-owners of the property. We consider all co-owners of the property to be co-applicants of the loan.
Under what condition will I be given a loan against the property?
The criteria that allow you to avail of the loan against property is that you must make sure your property is clear, free from any type of litigation, and not have any mortgage or loan.
Is Kridha Cashwave genuine when it comes to loans against property?
Kridha Cashwave has been trusted by more than thousands of clients when it comes to loans against property. Our loan against property has competitive interest rates, flexible repayment tenure, and Affordable EMI, making it an ideal site.