There are loans available for constructing a house, educational loans, and personal loans for any purpose you might want to.
Usually the personal loans available have an upper lending limit that in many situations prevent us from exploiting these types of loans. Banks today have developed all-purpose loan that you could use it to finance your needs.
Today individuals, partnerships, and private limited companies can keep their property as mortgage with the bank and raise money against it. The loan is given against the market value of the property and not the book value and the property can be residential or commercial. Many customers who have bought the property when rates were low or customers who have understated the agreement value of the property do not stand to lose.
The loan is given up to 50 per cent of the market value of the property.
The loan enables the individual to raise money against a capital asset like property which does not give returns unless it is liquidated and no additional collateral or guarantors are required.
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