Financial emergencies have become part and parcel of modern lives. Expenses like higher education, marriage, starting a new business, medical treatment, etc. require you to spend a lot of money upfront. If you do not have such amount of money in your account, there is a possibility that you might panic. In such a situation property, a piece of land or a completely built home can be a great asset for you.
Most banks and financial companies provide Loan Against Property that can help you meet your upcoming expenses. The best thing about this loan is that the financial institution doesn't have to know what the end purpose is, and you can continue using the property against which you have availed the loan. Whatever your end requirement is, when you need urgent cash and own a property, financial institutions like Finway Housing Finance Limited, provide loans against property for your financial requirements.
One of the main players in the finance industry in India, Finway Housing Finance works under the best of their abilities. As is obvious from its name, this bank specializes in Home Loans and Loans Against Property. Obtaining a Finway Housing Finance Loan Against Property is a simple and convenient process and is advantageous in many ways. Additionally, the interest rates are much lower as compared to any other options that you can access in situations of financial crunch, such as a personal loan or credit card.
Laon credited in the account on the given time. Really appreciate your efforts.
Mukesh Singh, Delhi
Shubham Singh has been very helpful and informative at each step during the loan process.
Muzammil Ahmed Khan, Noida
Instant processing and response. Mr.Saif was very helpful and responsive each time.
DEEPIKA Lavakumar, Delhi
Finway Capital's Loan Against Property loans with a personal touch!
Since Loan Against Property is secured with collateral, there are many financial institutions willing to offer this facility. So, why opt for Finway Housing Finance? The simple answer to this question is that it is a housing finance company and hence, specializes in housing loans and loans against property. Here are some of the major advantages that Finway Housing Finance enjoys over other financial institutions in the market:
The products and services offered by finway Housing Finance are customer-driven. They provide doorstep services to facilitate quick approval and disbursement of loans. This is especially advantageous when you are looking to get a Loan Against Property as it involves several inspections and assessments which require time while the end requirement might be time-sensitive. Finway Housing Finance specializes in loans against property and hence has a streamlined process in place for quick inspection, approval and disbursement.
Taking a loan is a long and drawn-out process. Applying and getting approved for the loan are the primary steps. Since, it takes years and sometimes even a couple of decades to repay the loan, having a provider with good post-disbursement services can be advantageous in many ways. When you opt for Finway Housing Finance Loan Against Property, you are provided with this advantage thanks to their excellent post-disbursement policies and services.
Another advantage of opting for Finway Housing Finance is the availability of loan enhancement option. In case there is an unexpected escalation of costs, you can opt for loan enhancement and get more to cover the added expenditure.
Finally, the best thing about a Finway Housing Finance Loan Against Property is that you are provided with several flexible repayment options so that you can choose one that is best suitable for you currently as well as in the future.
Finway Housing Finance Loan Against Property allows you to meet your upcoming financial requirements in an efficient manner, without stretching your finances. If you are wondering as to why you should apply for a Finway Housing Finance Loan Against Property for your financial needs, here are some reasons that you must make a note of:
Finway Housing Finance Loan Against Property is a secured loan. Hence, the main advantage of opting for this type of loan is that the loan amount available is substantial and directly linked to the value of the property. Depending on your credit profile, you can get loan amount as high as 60% of the value of the property.
Interest rates for Finway Housing Finance Loan Against Property start from per annum for residential properties and against commercial properties. Since Finway Housing Finance Loan Against Property is a secured loan, the interest rates are substantially lower than other unsecured loans such as personal loans. This means you are eligible for high-value loans and entitled to lower interest rates.
Generally, people who don't have a conventional job or a credit history often find it harder to get conventional loans. In such cases, opting for a Finway Housing Finance Loan Against Property increases one's chance of getting the required financial assistance. The reason being that as the property is offered as collateral, the company has the confidence that the risk associated with the loan has reduced significantly.
Finally, paying off the Loan Against Property on time helps you improve your credit score. As the information is automatically received by the credit bureau, if you successfully pay off the loan on time, your credit score definitely becomes better.
The loan can be repaid in maximum 20 years
Fill in the Loan Against Property Application form, to check your eligibility
Compare various Loan Against Property options, and apply for the best suatable option.
Get an instant e-approval, after successful submission of the application
You can avail a loan against residential as well as commercial properties.
The quantum of loan ranges from to Crores depending upon the market value of the property and the income of the applicant.
The LTV ratio for loan up to and for loans above. The market value of the property is as per the Valuation Report given by the panel valuer of SBI.
The entire loan should be repaid within 5 years to 15 years. Pre-payment and part-payment option is available with no charges.
The following options are available for repayment of the Finway Loan Against Property:
Salaried individuals, professionals, and self-employed individuals who are IT assesses are eligible for the loan. The loan can be availed by Resident Indians as well as NRIs against self-owned property in their name or in the name of their spouse/children/parents/siblings. The borrower should have a minimum net monthly income of 25,000 (if salaried) or minimum annual income of 3 Lakhs (if self-employed or professional). The age of the borrower should be between 18 years to 70 years.
The process is as follows:
No. Tax exemption is not available for Loan Against Property under the Indian Income Tax Act.
Loan Against Property is a type of Secured Personal Loan. Finway has different terms and conditions for secured and unsecured personal loans.
If you are going for a short-term loan, then an Unsecured Personal Loan is better since it does not require collateral security and the processing of the loan is hassle-free and quick. It can also be a great option to create a credit history if you do not have one. However, if the amount involved is huge, it is better to avail Loan Against Property since the rate of interest is much lower compared to the rate of Unsecured Personal Loan. Also, with the flexible repayment option ranging from 5 years to 15 years, the EMI will be considerably low and affordable with Loan Against Property.
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