For most individuals of the middle-class, one of the biggest avenues of investment is that of property. This is because not only does it provide a sense of security to the current generation but can also be of use in the future. However, it is this very investment, which can drain our savings as it requires considerable investment.
In such a case, if there is any kind of situation which requires a quick influx of cash, then we find ourselves in troubled waters. It is for such a reason, that loan against property was invented. The benefit of this is that you do not need to liquidate your asset or worry about how the funds are going to be arranged. Instead, you can opt for a loan against property as this allows your investment to remain intact and on top of that you are able to obtain a loan against it.

However, despite the fact that such a loan is of a secured one, which means mortgage interest rates tend to be low, if you want it bring it down further by a few notches, then here are a few important points which you must remember -
Eligibility
It is more than imperative to check the eligibility criteria before applying. This is because of many reasons. Firstly, the criteria varies from one lender to the other. Secondly, if you are not able to meet the specified criteria, then your application can get rejected. Further, even if it were to get accepted, then chances are that you may get a higher rate of interest.
CIBIL Score
Also known as the credit score, it is a three-digit score which is a measure of how responsible you have been with your finances. Despite a loan against property being a secured loan, meaning that not much stress is placed on the credit score, it is always preferred to have a good score of around 750. This way not only will you better your chances of your loan application getting accepted, but you will also get a better offer in terms of the interest rate.