4 Tips to Reduce Your Loan Against Property Interest Rates

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loan against property interest rates. Credit score is the first thing that is looked at while evaluating any loan application, as it involves assessing your capability to pay back the loan amount. Hence, it’s extremely important to keep your credit score at an optimum level.

You can easily avail of a Bajaj Finserv Loan Against Property with a CIBIL Score of 700 or higher. Pro Tip: Do not worry if your credit score is below 700. You can easily improve your score above 700 by maintaining strict financial discipline.

Ensure you never overlook EMI and credit card bill deadlines. Setting reminders or enabling auto-payments can help ensure timely payments. With a shorter loan tenure, you can get relatively better interest rates.

When the loan payment tenure is short, the risk involved reduces to a significant extent. But the monthly EMI amount goes up compared to a longer loan tenure. However, if you can afford to pay a higher EMI, it makes sense to opt for a shorter loan tenure.

Bajaj Finserv Loan Against Property offers a long repayment tenure of up to 15 years, making the repayment process much more relaxed and you can opt for this option as an advantage, if you need it. If you have already availed a loan against property and you are not happy with the loan terms, you can consider transferring your loan to another lender who offers better interest rates and terms. A loan transfer involves transferring the existing loan to a new lender with better terms and conditions.