When it comes to the discussion of some loans that give you a higher amount of funds at a lower rate, it is worth mentioning the loan against property.
The loan against property India is one of the easy ways that anyone can use to fund anything big in life.
The advantage of applying for the loan against property is that the interest rate for it is also lower because it is a secured loan. Why? The applicant needs to keep the property as the collateral to avail this facility.
Loan Against Property for Women – Can She Apply for it?
Although this loan facility is open to all eligible applicants irrespective of the gender, some people still have one doubt. It is whether the loan against property for women is available or not? The answer is yes, the loan against property for women is available if she is eligible as per the lender’s eligibility norms.
If you are a woman with a home in your name and need some money for multiple needs, you can apply for the loan against property with a lender. The only thing is that you would need to abide by the terms and conditions of your prospective lender.
In the same context, let’s have a quick look at some loan against property eligibility terms and other requirements for applying for the loan against property.
Loan against property Eligibility norms for Women at a Glance
Be it a male or female, for anyone to apply for the loan against property, he/she should need to prove his/her eligibility as below:
- The applicant, be it men or women, should be a citizen of India
- His/her age should be between 25-70 years
- You should either be a salaried professional or an entrepreneur/self-employed individual
- You should have your property existent only in a select city as declared by your prospective lender
Loan against property Required Documents for Women
The loan against property required documents for women is similar to that of men. Here are the standard documents that you would need to furnish while applying for it. This is only a general list, and your lender may or may not ask more documents.
- Your KYC documents
- Your address proof details
- Latest Salary Slips
- Last 6 months’ bank account statement
- Latest photographs
- IT Returns
- The copy of the to be mortgaged property’s documents
How can a Woman Apply for Loan Against Property?
Anyone being an eligible man and woman applicant has the rights to apply for the loan against property. Applying for the loan against property account is dead easy. Have a look:
- You need to land on the website of your positive lender and fill in the online loan against property application form.
- Once you are done submitting the online application form, the lender’s representatives will get in touch with you within 24 hours for the next things.
- If everything looks fine, you will get the loan against property approval by a lender within 48 hours.
- After approval, you will need to submit the required documents to the lender’s representatives.
- Your desired loan amount will be credited into your bank account.
Leading banks and other lenders don’t discriminate by genders when it comes to awarding the loan against property. All that is required is the fulfillment of the eligibility conditions, and then you are good to go! You can submit your basic personal details such as name and mobile number to discover your pre-approved loan offers today!
Additional Read: Loan Against Property for Self-Employed: Features and Benefits
Bajaj Finserv is here to offer pre-approved offers on loan against property for women, home loans, and a lot more financial offerings. When you go for such deals, you can easily get across the other loan formalities fast and without facing issues.