A loan against property also known as a Mortgage loan is a type of secured loan offered by banks, financial institutes and NBFCs, against immovable collateral. This type of loan is preferred by most to raise funds for high-value business ventures or personal expenses. TN Finance provides the best loan against property for those who need it. Also compared to most places the processing time for a loan against property at TN Finance is significantly less. We provide hassle-free loans for start-ups, business organizations and individuals when they need it most.
Rated as one of the best financing experts in Chennai, Tamil Nadu, TN finance provides low-interest rates for the loan at a longer repayment tenure. The loan amount we provide will be nearly 75 to 100 % equal to the market rate of the property offered as collateral which varies between 3 lakhs to 1 crore. Apart from providing the best loan against property, we also provide the best business, personal, MSME loans.
A loan against property that is provided by banks, financial institutes and NBFCs. In a loan against property as the loan is offered against a pre-owned immovable property, it provides innumerable benefits that fulfil the financial needs of most individuals and businesses. It is highly versatile as it can fulfil both the business and personal needs of people from medical and educational expenses to maintaining business cash flow.
The best thing about a loan against property is that one can get loans at very lower interest rates compared to other loans. Since, it is a type of secure loan, where one gets a loan by offering an asset as collateral, large amounts of money can be gotten at lower interest rates through a loan against property. Also, when availing for the loan, the property one uses as collateral will retain its ownership. Meaning you continue to own the property you offered as collateral and can still use it or occupy it without issues. That property that was offered as collateral should be owned by the applicant and can be self-occupied or rented out the property. The most significant advantages of a mortgage loan are that one can get a higher amount of money for a lower interest at longer repayment tenures. As these loans are secure loans, the loan amount depends on the property offered as collateral and is usually 50 to 75 percent of the market value of the property.
At TN Finance, we are committed to help your growing businesses with small Business Loans in India.