High Credit Limit
Offers a high credit limit based on the property value, ensuring substantial funds are available for use as per borrower requirements.
Loan Against Property Overdraft / Overdraft Facility
The Loan Against Property Overdraft combines the advantages of securing a loan against property with the flexibility inherent in an overdraft facility. This innovative financial solution offers you the flexibility to withdraw funds as needed up to a certain limit, making it an ideal option for managing both personal and business financial needs. With the ability to pay interest only on the utilized amount, it provides potential savings on interest costs. Additionally, the facility enables depositing any surplus funds to reduce the interest liability, coupled with the option to redraw these funds as necessary, offering a strategic tool for long-term financial planning and handling large expenditures.
Features
Collateral Security
Secured against property, offering lower interest rates compared to unsecured credit facilities, while the property remains in the borrower’s possession.
Ease of Transaction
Facilitates easy transactions with a dedicated overdraft account, allowing for seamless withdrawals and deposits.
Long Tenure Options
Comes with the possibility of a long repayment tenure, aligning with the borrower's financial capacity and ensuring manageable repayment schedules.
Advantages of Loan Against Property Overdraft / Overdraft Facility
Flexible Access to Funds
Offers the flexibility to withdraw funds as needed up to a certain limit, providing a convenient source of financing for various personal and business needs.
Interest Savings
Interest is charged only on the amount utilized, not on the entire sanctioned limit, leading to potential savings on interest costs.
Repayment Flexibility
Allows borrowers to deposit any surplus funds into the account, reducing the interest liability, with the option to re-withdraw these funds if needed.
Extended Credit Facility
Provides an extended credit facility against property, making it a suitable option for long-term financial planning and large expenditures.