The loan against home is simply the secured type of loan

Smart people always make smart choices. When it comes to loan, if one owned home and needs a large sum of money as loan, then nothing but loan against home would be the best option.

Money acts like the lifeblood in modern world, without it one can’t think of survival. It is really a tough job for the salaried people to make acute financial management; there are times which come to life when the need of taking loans knocks on the door. Availing the proper type of loan according to your requirement is not at all a tough job today. Now you will find several banks and other financial organisations in India which are offering several types of loans for meeting different kinds of financial requirements of people. Among those, one of the most lucrative types of loan is the loan against home.

The loan against home is simply the secured type of loan, for availing which one need to pledge his residential home as security to the lender. Here, it should be mentioned that in order to avail such loan by pledging his commercial property and the residential property, which will be pledged, the item of security should have market value. By availing loans under this category, one can get several advantages which are discussed here:

The primary advantage that a lender provides to the borrower is the low rate of interest. This loan is provided at much cheaper interest rate than the personal loan (which is usually issued at an interest rate of 16 to 21 %). The rate at which the loans against property are issued is 9.75 to 11.50 %. As the lending entity is having security, if the borrower is not able to pay back the loan amount, then the lender will have full authority to recover that sum by selling the secured property.

Other benefits that the borrowers get under the loan against property are highly flexible repayment option and long repayment tenure. The borrowers facilitate the borrowers to pay back the loan amount by equated monthly instalments (EMIs). The borrowers will also be benefited by getting longer repayment tenure to return the loan amount, which is longer than that for a personal loan. One can get up to 10 years of tenure to pay back the loan amount.

Like the personal loans, the loan against home can be taken for any purpose; the borrower doesn’t require disclosing the reason of availing loans to the lending institution.

There are several banks in India which spread their helping hands to give you the advantage of loan against property. The IDBI banks, ICICI bank, Bank of Baroda are the names of a few. To avail the advantage of such loans without wasting precious time, energy and by making a comprehensive comparison of interest rates among different lending institutions, the best way is the Internet media.

By going Online, you will find hundreds of online financial organisations which facilitate you to get the advantage of loan against home. To make the right choice of lender, the online financial organisations give you the advantage to make a comparison among different lenders for the most reasonable interest rate and flexible terms and conditions.

So, from the above discussion one thing is quite clear that if you are home-owner and possess the desire to avail a loan, then nothing but the loan against home would be your perfect choice. Such a loan facilitates you with a reasonable rate of interest and flexible repayment options. To get the maximum advantage of such loan, nothing but the online mode would be the best option for you.



  1. There are a lot of things to think about when it comes to financial issues. It’s very helpful to get this kind of information and to know how certain things can help.

  2. jolly001 said

    too good blog and quite informative

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