Presented by PNB Housing Finance Ltd.
Loan Against Property Vs Personal Loan
Introduction • Loan Against Property: It is secure type of loan. In this you will submit a piece of land to the lender as a collateral. After repayment of the loan with interest rate you will get the document of your property. • Personal Loan: In is unsecured type of loan. In this you can simply apply for the personal loan and you will get the fund. The interest rate is higher in this type of loan.
Benefits of Loan Against Property • Loan Against Property Interest rate is less as compare to personal loan • Long repayment tenure it can be 20 years • Secured loan • Documentation is very simple • Easy disbursement • Multi Purpose loan
Benefits of Personal Loan • Interest rate is better than credit card. • Long repayment tenure it can be upto 7 years • UnSecured loan • Even credit score is not good still you can apply • Multi Purpose loan
Conclusion As explained, Loan Against Property has more benefits over the other one. Long tenure means less monthly installment which will help you to maintain your monthly budget without any disturbance.
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