A mortgage loan is a very common type of debt instrument, used by many individuals to purchase housing. In this arrangement, the money is used to purchase the property. The financial institution, however, is given security - a lien on the title to the house - until the mortgage is paid off in full. If the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it.
In some instances, a loan taken out to purchase a new or used car may be secured by the car, in much the same way as a mortgage is secured by housing. The duration of the loan period is considerably shorter - often corresponding to the useful life of the car. There are two types of auto loans, direct and indirect. A direct auto loan is where a bank gives the loan directly to a consumer. An indirect auto loan is where a car dealership acts as an intermediary between the bank or financial institution and the consumer.
A type of loan especially used in limited partnership agreements is the recourse note.
Live your dreams with a Loam Against Property! This multi purpose loans puts funds at your disposal to use as you wish. it unlocks the hidden value in the property you own. The loan can be repaid comfortably over as many as 15 years. The Bank's Loan Against Property can be used for of the following purpose:
- Expand your business!
- Get your child married!
- Send your child for higher studies!
- Fund your dream vacation!
- Fund Medical Treatments!
- Renovate your home!
Bank Offers you flexibility and convenience. Our Loan Against Property Costs less than other funding options and provides you with complete freedom to utilize the loan for any purpose.
With our simplified documents and quick processing norms, you can avail of a hassle free loan. Our counselors will visit you at your convenience and assist you with the necessary documentation.
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