In India, people don’t buy a home; they invest in a dream – a dream that they nurtured for long and struggled to get to this position. Earlier, people used to save all their lives to buy a home. Some even could not do that and had to contend with a rented space.
However, times changed, and that also led to innovations in the finance industry. It came up with the home loan facility to help people fund their home purchases.
People could now repay the home loan EMIs over a long tenor. As a result, it helped them manage the home loan without disturbing their monthly budget.
But, not all may qualify for the home loan as too much eligibility, and other approvals go into the final disbursement.
Hence, in the same context, we have designed a post that will inform you about a financing option to fund your new home. We are talking about the loan against securities.
Would you like to know how the loan against securities can help you finance your dream nest? Read on and know more!
What is loan against securities?
The loan against securities is a funding solution where you can pledge your invested securities to avail a higher amount of money. These securities could be shares, mutual funds, shares, bonds, insurance policies and more. As per your loan against securities eligibility, you can borrow up to Rs.10 crore.
You can use the loan against securities amount to fund many needs in life such as:
- Consolidate debts
- Send your children overseas for higher education
- Make way for medical expenses
- Go on a world tour or family holiday
- Buy land or properties for personal and business use
- Expand your business
- Other personal needs as per your preferences
Here’s the loan against securities can help you buy a dream home
Let you take advantage of a large amount
The loan against securities facility can help you borrow up to Rs.10 crore at an affordable interest rate. As per your loan against securities eligibility, you can use the loan amount to fund your new home easily.
You don’t need to worry about providing your lender with a bucket of documents to get the loan approval. Some of the standard documents required by a creditor are:
- Your KYC details
- Your address proofs
- Latest Salary Slips
- Bank account statements
- Recent passport size photographs
- Documented proofs of to be mortgaged securities
Zero prepayments and foreclosure facility
You can also make some prepayments and even foreclose the loan without paying any charges. Most of the lenders let you do that without charging any fine.
You can also get the advantage of repaying the loan against securities over a longer tenor. This way, you don’t have to worry about settling the debt early and hampering your monthly budget.
You can shop around for the best deal by comparing all loan offers online and then apply for it to fund your dream home.
Leading NBFCs offers pre-approved offers on loan against securities, home loans, business loans and a lot more. The purpose of such offers is to make your loan procedures dead easy and fast.
So if you have checked all the documents and the eligibility criteria then you can apply for this online loan facility which will give you instant loan against your securities from which you easily manage fundings for your home.