Do you need a huge amount.
- To fund your children’s higher education?
- For medical or any other emergency?
- For wedding expenses?
- For travelling abroad?
If the answer to the above questions is a YES, then taking a loan against property is the best choice for you. A loan against property or a mortgage loan is for those people who can keep their property as collateral with the bank. The bank will first calculate the market value of the property and accordingly provide 40-65%* of that value as loan amount.
A mortgage loan helps the borrower with a huge amount which can be used to clear multiple obligations. Apart from having a property under your name, there is a criteria and many loan against property documents required.
In today’s market, there are many banks that offer attractive mortgage loan interest rates in order to lure the customer into taking a loan against property from them. Below we have listed mortgage loan interest rates for the month of August 2018 of few banks. You can check these and accordingly choose and apply for a mortgage loan from any of these banks;
| Bank Name | Interest Rate * |
| Axis Bank | 11.00% |
| Capital First | 12.00-13.50% |
| Citibank | 8.65% |
| Edelweiss | 12.00% |
| Fullerton | 13.00-15.00% |
| HDB Financial Services | 11.00-20.00% |
| HDFC Bank | 9.55% |
| ICICI Bank | 9.50% |
| IndusInd Bank | 9.50% |
| Kotak Bank | 9.55% |
| Standard Chartered Bank | 9.25% |
| Tata Capital | 11.75-15.00% |
If you have a good credit history, then you can utilize your relationship with the bank where you have any account and negotiate for a good deal. Applying via Ruloans for a loan against property is a good choice as we promise you a hassle free process right from your loan application till disbursal. Our support team has experienced individuals that can clear any of your mortgage loan inquiries and we provide you these services free of cost.
