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Loan against properties is one of the most preferred loan options for different types of businesses. It comes at the lowest interest rates and also has a long tenure. If the individual has the ability to repay the EMI on time, a loan against property is an ideal way to gain financial help for the business. The eligibility for the loan requires a minimum age of 25 years and the applicant should be salaried, a manufacturer, or a trader. For an applicant to apply for a loan against a property, it is extremely important to have complete documents of the property. The property should not be older than 50 years and should have a minimum value of Rs.50 lac.
