A loan against property (LAP) is a quick and convenient way to get loans during an emergency. If you are planning for a LAP, you need a self-owned or co-owned residential or commercial property. The amount of loan that you would get would depend on the market value of your property. Before applying for the loan, use the Hero Fincorp Loan Against Property EMI Calculator to check certain important things. Read on to know about the advantages that this simple tool can provide.
The benefits that you would get from the loan against a property calculator that is available on the lenderâ€™s website include the following:
Â·Â Â Â Â Â Â Â Â It is user-friendly and available for free. You do not need to create an account or login to use the calculator
Â·Â Â Â Â Â Â Â Â You would get accurate results and that would be of much support in order to plan the repayment schedule of the loan
Â·Â Â Â Â Â Â Â Â You can access it remotely anytime. You just need a device and a stable internet connection
Â·Â Â Â Â Â Â Â Â Estimate the exact amount of EMI (Equated Monthly Instalment) that you have to pay on a monthly basis. The calculation is based on a mathematical formula that is easy to understand
Â·Â Â Â Â Â Â Â Â Even before you apply for the loan, it can help you to form an idea about your loan amount eligibility, the repayment period, interest amount, etc.
Using it is easy as you have to provide the basic details without any personal data like your name, contact number, bank account, etc. the inputs required are:
Â·Â Â Â Â Â Â Â Â The loan amount that you are planning to opt for
Â·Â Â Â Â Â Â Â Â The time required for you to repay back the loan
Â·Â Â Â Â Â Â Â Â The interest rate is inbuilt based on the lenderâ€™s terms and conditions
Once you provide the above details, the calculator would estimate the EMI (Equated Monthly Instalment). The Hero Fincorp Loan Against Property EMI Calculator would provide you the following:
Â·Â Â Â Â Â Â Â Â The exact loan amount that you can get from the lender. It depends majorly on the market value of the property that you keep as security. Expect to get up to 75% of the propertyâ€™s value as the loan.
Â·Â Â Â Â Â Â Â Â You can have a loan repayment tenure of up to 15 years. You may keep either a residential or commercial property as a mortgage. The loan tenure is important as it is directly related to the EMI amount. You can increase or decrease the loan tenure to get the EMI that would be comfortable for you
Â·Â Â Â Â Â Â Â Â Hero Fincorp offers provides two types of interest rates, – the fixed-rate and the floating rate. Calculate your EMI based on the interest rate that you would opt for.
Before applying for a loan against property, check your eligibility for a specific loan amount and the EMI on the Hero Fincorp Loan Against Property EMI Calculator. Avoid lengthy and difficult manual calculations and get exact figures in a fast and error-free process. It is easy to use and requires basic details without any security breach related to your personal details.
Contact Us & Send Query-
Hero FinCorp Limited
09, Basant Lok, Vasant Vihar, New Delhi â€“ 110057
Email Id: Corporate.Care@HeroFinCorp.com
Website – https://www.herofincorp.com/
Tweets by HeroFinCorpLtd