The festive season is here and you may have an array of gifting, decoration, and holiday plans in mind. Instead of relying on a high-interest unsecured loan or your credit cards, this time you can keep it light on your pocket by availing a loan against property.

Here is why loan against property is a winner when it comes to funding your festival shopping needs.

You can Fund everything on your Shopping List with a Sufficient Loan Amount

Shopping for your friends and family during the festive season will mean buying designer clothes, expensive jewellery, chic crockery, electronics or gadgets and other luxury items. In order to fund this exclusive list, you will need ample funds. Rather than compromising with your wish list increase your purchasing power with ample funds from a loan against property. For example, the loan against property gives you up to Rs.3.5 crore.

You can Avail an affordable Sanction at Competitive Interest Rates


Like other secured loans such as a gold loan, a loan against property allows you to avail a low interest sanction thanks to the collateral. When you apply for the loan against property, apart from a nominal interest, you will also be able to repay the loan easily via a lengthy loan against property tenor. This means that your high amount sanction comes on a low interest which translates into pocket-friendly EMIs.

You can Manage your Cash Flow with Flexible Repayment Options

Apart from competitive loan against property interest rates, you can manage repayment with ease thanks to the comfortable window of 2 to 20 years, based on your financial convenience.

This is an exclusive feature on offer by lenders where you can borrow as you go from the sanction and pay interest only on the amount you use. Moreover, you can choose to pay interest-only EMIs and repay the principal at the end of the tenor. Further, you can make prepayments on your loan at minimal charges. All this adds up to make the repayment easy on your pocket.

You can Enjoy Loan Against Property Tax Benefits

When you plan to gift your spouse, parents or children a property or plot during the festive season, your loan against property can save you tax. Using the loan for buying a property will allow you to claim tax exemptions under Section 80C and 24. If you buy assets such as jewellery or shares, then you can claim deductions for your loan only when you sell these assets. Here, the interest you repay on the loan becomes the cost of acquisition of the asset. When you sell the asset, you can subtract this cost of acquisition from your taxable income. You can claim this deduction in the financial year corresponding to the sale.

Additional Read: Ways to Use Loan against Property for Repayment or Investing

Now that you are aware of these loan against property benefits, you can apply for the loan by checking the loan against property eligibility terms and apply instantly with lenders.


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