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Is Loan Against Property a Good Way to Finance your Child's Further Education - Explained!
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It is said that an investment in knowledge pays the best interest. Therefore, a good education is considered one of the top ingredients to live a successful life. However, often people face problems in admitting their children to the best institutes. Be it foreign universities or premier institutions in the country, the cost of education is exorbitantly high today. Many parents find it hard to arrange funds to send their children abroad for higher education. However, there is a solution.
A loan against property can help you finance your child’s future education without exhausting all your lifelong savings.
What Is a Loan Against Property?
A loan against property is a secured loan where you can mortgage your property to borrow money against its value. To take a loan against property, you can pledge your commercial residential or industrial property. When you apply for a loan against property, the lender evaluates the property’s value and accordingly sanctions the loan amount to you. Until you repay the loan, the property is kept as collateral with the lender.
What Is the Eligibility to Get a Loan Against Property?
The eligibility criteria for a loan against property is as mentioned below:
What are the Benefits of Availing a Loan Against Property?
Whether your child wishes to pursue his masters in premier institutes of the country or abroad, you can easily finance his higher education with a loan against property. With this loan offering, you can get a high loan value amounting to 50%-75% of your property value. With us, you can get a loan value from Rs 10 lakh to Rs 5 crore.
With a loan against property, you benefit from an easy repayment schedule and long repayment tenure. With a maximum tenure of 15 years, you can conveniently repay the loan amount as per your financial comfort. You can use a loan against property EMI calculator to determine your affordability.
You help reduce the lender’s risk by furnishing your property as collateral while availing a loan against property. This helps them offer you low-interest rates compared to other unsecured loans. With low interest rates and flexible repayment options, a loan against property can be an affordable loan option to fund your child’s needs.
Your child deserves the best, and lack of funds should not hinder his/her chances of excelling in life. With easy repayment options and high-value funds, a loan against property can help you leverage the equity of your property and send them to the best educational institutes. After all, knowledge is the best gift you can give to your child. Click on the loan section on the wehsite and apply for a loan against property today.
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