|ICICI loan against property assists you in fulfilling all the major expenses that usually occurs in an individual's life and are at times tough to be met without any financial help. At such a time, the biggest and the proudest investment which is your property can serve an important purpose. The ICICI bank loan against property means loans against houses or homes is a feature introduced by the bank in the recent past. The main aim of introducing this is to give loans against the property owned by an individual. This is offered at competitive rate of interest alluring to all. With the help of ICICI loan against property, you can meet all your personal requirements such as child education, marriage, medical expenses, investing in business or any other major expense.
In order to be eligible for ICICI loan against property, you have to be either a self employed or a salaried individual. NRI – Non Resident Indian can also avail the ICICI bank loan against property. According to this scheme, it offers liquidity to your present property and also gives you the rights of retaining the same. This means that you are still owning the house while it is in a liquid state. Second scheme offered by the ICICI bank ltd is loan against property index also called loan against property overdraft. It allows you to avail a housing loan against an occupied property. Only self employed Indians are eligible to apply for this scheme. The bank also offers ICICI loan against securities. It gives this option in the form of LRD – Lease Rental Discounting program. This program allows you to borrow money against a commercial property that is owned by you. The only condition applied on this is that, the commercial property must be occupied on lease.
ICICI bank loan against property is the best way to use the actual value of your existing property. Apart from the loan against property it also provides loan against gold. Just like the property, gold will be treated as a liquid asset till you pay back the loan amount. With the help of this loan, you can now fulfill all those desires which was not possible earlier. That is why this scheme is also regarded as the multipurpose scheme loan that fulfills your long wished desires. Moreover, the repayment tenure given is 15 years which is indeed a long time. Repayments can be made at one's own convenience. For more information on the ICICI loan against property, loan against securities or loan against gold, you can either contact the bank directly or log on to the link given below: