plot loan.pdf
- 2. What is plotloan? The term "plot loan" refers to a loan given by banks to borrowers in order to purchase a piece of land. Equated Monthly Instalments (EMI), which are paid back over a set period of time.
- 3. Plot loan characteristics The ability to approve plot loans online swift approval and low EMI streamlined documentation One of the lowest interest rates available
- 4. Types of plotloans Direct purchase of a plot from a housing society or real estate development authority Buying a plot through a resale directly from the lender or through agents
- 5. Advantages of plotloan The limited supply of land makes it a wise investment that yields higher returns upon resale. Enables the buyer to begin building their own home in accordance with their specifications
- 6. Features of plotLoan Low Interest Rates Low Processing Fee No Pre-Payment Penalty No Hidden Charges Interest on Daily Reducing Balance
- 7. Credit Score Whenmaking lending decisions for any loan, including your land loan, banks and other lenders take into account a credit score as an important factor.
- 8. EMI Payment Methods Standing Instruction (SI) Electronic Clearing Service (ECS) Post-Dated Cheques (PDCs)
- 9. Plot Loan Eligibility AGE- 21 to 65 years old PROFESSION Paid/Self- Employed NATIONALITY Indian resident GENDER-All Genders
- 10. Plot Loan Documentation Aadhaar card PAN card Valid Passport Voter ID card Driving license Utility Bill. Ration card
- 11. To know moreloans: Home loans plot loans Top-up loans takeover loans Home improvement loans Home Extension loan 11