Your loans, credit card dues, and other existing debts can be a burden to your finances over a period of time if you aren’t able to make timely payments or make payments in full. On the other hand, even if you are clearing your dues on time and staying on track with EMI deadlines, nothing feels as good as getting debt-free completely does. To achieve this you must plan your finances effectively and combine it with resources such as loan against property in India. You can apply for this loan either with a residential property or a commercial property and it makes clearing multiple debts much easier.
Here is how loan against property features help ease your debt in no time.
Allows you to access additional benefits
When you opt for a loan against property from Bajaj Finserv you can enjoy various other benefits such as easy application, hassle-free disbursal, online account management, high-value top-up loan and more. If you think that you are paying higher interest having taken this loan from another lender, you can opt for Bajaj Finserv’s easy balance transfer facility to enjoy its myriad features, thanks to the minimal loan against property documents required. Make the switch easily and make repayment affordable and easy.
Helps in consolidating your debt
A loan against property gives you a higher loan amount to cover several debts. You can pay your outstanding balance in full and limit your expenditure towards interest. When you opt for a Loan Against Property from reputed lenders like Bajaj Finserv, you can get a loan up to Rs.1 crore if you are salaried or up to Rs.3.5 crore in case you are self-employed.
Offers a lower interest rate and longer tenor that lets you manage your debts well
As the loan is secured by residential or commercial property, the rate of interest for your loan will be slightly lower as compared to other loans. This, in combination with lengthy loan against property tenors make it comfortable for you to repay the amount as EMIs are considerably low. In effect taking this form of assistance will help you clear your debts completely, while being easy to manage in itself.
Gives you the freedom to access the sanction as per your requirements
If you are applying this loan from Bajaj Finserv you can make use of the Flexi Loan feature. It allows you to borrow money from your total amount as per your requirements and pay interest only on the sum utilised. Further, you can pay interest-only EMIs and repay the principal once the tenor ends. This will reduce the cost of your EMIs by up to 45% and enable you to manage your finances better too.
Now that you know how you can benefit from a loan against property, especially when it comes to repaying debt, don’t hesitate to use it to tackle debt that’s getting out of control. Before you apply check your loan against property eligibility to see if you’re a good fit andcheck offers from Bajaj Finserv to access financing even more rapidly.
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