Home Loan vs Loan Against Property

Home Loan vs Loan Against Property

The home loan and loan against property are provided by various banks and financial institutes. These lenders have certain criteria and other requirements to avail themselves of the loan. Home Loan are used to buy a house, plot, under construction property, etc. These loans are secured by the new property as well but the Loan against property is a secured loan that helps you to meet your personal and business requirements by mortgaging your property. Loans against property or mortgage loans can be used for various purposes, such as expansion of business, marriage in family, funds for medical treatment, leisure vacations and higher studies for children, etc.  

The loan affects several components including interest rate, tenure of repayment, maximum Loan Against Property amount. These details may vary depending upon the lender or your bank which you are going to choose. For both the loans these components are different to each other. If you choose the services from financeseva, you can visit our official website. The comparison of both is given below, these rates and tenure provided by the finanaceseva.  

Home loan

• Maximum loan 200% of registry value • Loan up to 90% of property value • Flexible tenure repayment

Loan against property

• Maximum tenure upto 15 years • Loan upto 130% of property value • Industrial property is also eligible