Loan Against Property
Loan Against Property
Loan Against Property with Bizonics
Are you looking for a way to get a large sum of money for something important, like growing your business or paying for your child’s education? If you own a property, a Loan Against Property from Bizonics might be just what you need.
Let’s walk you through what it is, how it works, and why it could be a great option for you.
What Is a Loan Against Property?
A Loan Against Property, or LAP, is a type of loan where you use your property as security. This property can be your home, an apartment, or even a commercial space like an office or shop.
In simple terms, you pledge your property to Bizonics, and we give you a loan based on its value. The best part? You can use the money for almost anything – business expansion, medical bills, education, or even a dream vacation.
Unlike personal loans, which don’t require collateral, a Loan Against Property is secured by your property. This means we can offer you lower interest rates and larger loan amounts.
And compared to home loans, which are only for buying property, LAP gives you the freedom to use the funds however you want.
For example, if you own a house worth ₹50 lakhs, you might be able to borrow up to ₹35 lakhs, depending on our terms.
You still get to live in or use your property; it’s just there as a backup if you can’t repay the loan. But don’t worry – we’re here to help you plan repayments that fit your budget.
Why Choose a Loan Against Property?
There are plenty of reasons why a Loan Against Property might be the right choice for you. Here are some key benefits:
Higher Loan Amounts
Since your property acts as security, you can borrow more than you would with an unsecured loan like a personal loan. This makes LAP perfect for big expenses.
Lower Interest Rates
Because the loan is secured, we can offer lower interest rates than unsecured loans. This saves you money over time.
Flexible Repayment Terms
You can choose a repayment period that works for you, often up to 15 years. Longer tenures mean smaller monthly payments, making it easier to manage.
Use It for Anything
Need funds for a wedding, business, or education? With LAP, the choice is yours. There are no restrictions on how you use the money.
Keep Using Your Property
Even though you pledge your property, you can still live in it or use it for your business. It only comes into play if you can’t repay the loan.
Possible Tax Benefits
In some cases, the interest you pay on a Loan Against Property may be tax-deductible, especially if used for business purposes. Check with a tax advisor to be sure.
At Bizonics, we make these benefits accessible with our customer-friendly approach. Our team is here to answer your questions and help you find the right loan solution.
Are You Eligible?
Wondering if you qualify for a Loan Against Property with Bizonics? While specific requirements may vary, here are the general criteria:
Age
You should be between 21 and 65 years old when the loan matures.
Employment
You can be salaried or self-employed. Salaried folks need a stable job, while self-employed individuals should have a steady business income.
Property Ownership
You must own a residential or commercial property with clear title deeds and no legal disputes.
Credit Score
A good credit score, usually 700 or higher, shows you’re reliable with repayments.
Income
You need enough income to cover the loan repayments comfortably.
Not sure if you meet these standards? No problem! Our team at Bizonics will work with you to assess your eligibility and explain your options. Just reach out, and we’ll guide you.
What Documents Do You Need?
To apply for a Loan Against Property, you’ll need to provide some documents so we can verify your details and the property. Here’s what you’ll typically need:
| Document Type | Examples |
| Property Documents | Title deed, property tax receipts, approved building plan |
| Identity Proof | Aadhaar card, passport, driving license, voter ID |
| Address Proof | Utility bills, rental agreement |
| Income Proof | Salaried: Salary slips, bank statements, Form 16; Self-employed: IT returns, profit/loss statements |
| Photographs | Passport-sized photos |
This list isn’t exhaustive, and we might ask for additional documents depending on your situation. Don’t worry – our loan officers will give you a clear checklist when you apply, making the process as smooth as possible.
How to Apply with Bizonics
Applying for a Loan Against Property with Bizonics is simple and straightforward. We’ve designed the process to be quick and hassle-free. Here’s how it works:
1. Fill Out the Application
Start by completing our online application form on the Bizonics website. It’s easy and takes just a few minutes.
2. Submit Documents
One of our representatives will reach out to collect the required documents, like property papers and income proof.
3. Property Valuation
We’ll arrange for an expert to assess your property’s market value. This helps us determine how much you can borrow.
4. Credit Check
We’ll review your financial details, including your income and credit score, to ensure you can manage the repayments.
5. Loan Approval
If everything looks good, we’ll send you a sanction letter with the loan terms. You review and accept it.
6. Get Your Funds
Once you agree to the terms, we’ll transfer the loan amount to your bank account, often within a few days.
Our goal is to get you the funds you need as quickly as possible. If you have any questions during the process, our team is just a call away.
Interest Rates and Repayment Options
At Bizonics, we offer competitive interest rates to make your Loan Against Property affordable. While exact rates depend on factors like your credit score, loan amount, and property type, they generally range from 9% to 14% per annum in India. To find out the current rates, contact our customer service team.
We also give you flexibility in how you repay the loan:
- Choose Your Tenure: Pick a repayment period that suits your budget, typically from 5 to 15 years. Longer tenures mean lower monthly payments.
- Fixed or Floating Rates: Opt for a fixed interest rate for predictable payments or a floating rate that may change with market conditions.
- Balance Transfer Option: Already have a Loan Against Property with another lender? You can transfer it to Bizonics for better rates or service. Ask us how!
Our loan officers will explain all the costs upfront, so there are no surprises. We’re committed to transparency and helping you make informed decisions.
Why Choose Bizonics?
At Bizonics, we’re more than just a lender – we’re your partner in achieving your financial goals. Here’s why you should choose us:
- Competitive Rates: We offer some of the best interest rates in the market, helping you save on your loan.
- Quick Approvals: Our streamlined process means you get funds faster, often within days.
- Personalized Support: Our friendly team is here to guide you every step of the way, from application to repayment.
- Transparency: We provide clear information about rates, fees, and terms, so you know exactly what to expect.
- Flexible Options: With various tenure and rate options, we tailor the loan to fit your needs.
Whether you’re a homeowner or a business owner, we’re committed to making your Loan Against Property experience stress-free and rewarding.
Ready to Get Started?
A Loan Against Property from Bizonics can help you unlock the value of your property and achieve your dreams.
Whether it’s funding a new venture, covering education costs, or handling unexpected expenses, we’re here to support you with competitive rates and exceptional service.
Don’t let financial hurdles hold you back. Apply now on our website or contact our team to learn more. We can’t wait to help you take the next step!
