LOAN AGAINST PROPERTY

A loan against property is a type of secured loan where individuals or businesses can borrow money by pledging their residential or commercial property as collateral. This loan typically offers a lower interest rate compared to unsecured loans since the risk to the lender is reduced by the security of the property. Borrowers can use the funds for various personal or business needs, such as education, medical emergencies, or business expansion. The loan amount is usually determined based on the market value of the pledged property. It is important to repay the loan on time, as failure to do so can result in the loss of the mortgaged property.