2020-07-18T11:45:21
What is the difference between home loan and Loan Against Property?
A home loan is availed to buy or construct a new residential property. While, loan against property can be availed for any reason. Under home loan, the property you want to buy is transferred to the bank as collateral as and when they provide you with the loan. However, in case of loan against property, you submit your already owned property as collateral, and it can be either a residential property, commercial, land or industrial property. The lowest interest rate on home loan is 8.10%. However, in case of loan against property, you submit your already owned property as collateral, and it can be either a residential property, commercial, or industrial property. The lowest rate on mortgage loan 8.15%.
home loans , mortgage loan , loan against property , housing loan , home construction loan , flat purchase
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