Loan against property can be taken against one's self occupied or rented residential or commercial property. This type of loan serves many purpose like expanding one's business.

Loan against property is the most secured form of availing a loan facility. Under this, the borrower pledges a collateral in the form of property against the loan amount. The borrower still maintains the right of ownership of the property and in case he is unable to repay back the loan amount, he can sell the property to pay off the debts. People mainly take up loan against property either to start or expand their business. Moreover, this type of loan is widely used to repay the existing high rate of debts.

The borrower can go for overdraft option as he has to repay interest only on the amount withdrawn. However, the disadvantage accompanying this facility is that only the banks offer such services as housing finance companies do not offer savings or current account. Moreover, overdrafts carry a high rate of interest as well as involve high annual processing fee, so as a borrower you have to shell out more.

With inflation going sky high worldwide, prices of commodities of daily use have shot up like never before ...In such a scenario, buying a house is a pressurizing task in itself when one feels that either “no , its not the right time” or maybe "ok, let me compromise with this house since the one that I would love to make mine is actually out of my budget.

Especially for the NRIs, when they are not with their families in India, buying a home is then a need of security and protection for your family.

Today, buying a home is no more considered as just buying a roof for yourself but also as a great investment option, as the share markets are vulnerable and the maturity of your deposits and savings is far too slow to keep up with the pace of growth around today. NRIs can hence benefit from the real estate sector by investing in the same and taking the assistance of BOMBAY LOAN to avail home loans for the same.

An individual who has been staying abroad for any reasons like that of employment, business, vacation, or for any purpose wherein circumstances indicate an indefinite period of stay abroad are eligible for NRI home loans AND MORTGAGE LOAN. Apart from that, any of those officials who have been posted abroad on duty or for any assignments with foreign Governments or regional/national/international agencies are also entitled to these loans.

The amount of loan to be borrowed is entirely dependent on the person's repayment capacity. Repayment capacity is governed by taking various factors such as PRESCRIBED BY BANK TO BANK.