Know about taking loan on Plot at Loanzbazar
A loan on a plot means taking money from a money lender to purchase land. Equated monthly instalments can be used to repay money which is a certain amount you pay until all loan is paid completely
Investing in land and plots has always been considered a wise decision. A plot loan is, therefore, borrowing money from a loan provider to buy a plot. The return on investments on plots is often very high. Some people make their houses on the plots they buy, some resell them and some use them for various other purposes like agriculture, setting up an office etc.
At loanzBazar applying for a loan on a plot is easier, simpler and convenient for everyone. With flexible repayment policies and a low-interest rates, it is one of the most popular loans.
You can get your loan on plot approved within 7-15days. If all your documents are handy and you pass all the conditions laid by the bank your loan can be approved within 2-3 days with Loanzbank.
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Making LoanBazar your first choice for a loan:
LoanzBazar guarantees the fastest loan approval and transfers within 1-7 days after screening the required documents and your application.
With the fastest and most convenient loan approvals, LoanzBazar always offers options for repayment in EMIs. You get to pay any way you want after 6 months of the loan transfer.
At LoanzBazar you can take a loan from anywhere between Rs 50,000 to Rs 10,00,000 and use it to purchase a plot.
You can repay your loan amount with interest within 25 years by opting for LoanzBazar’s services.
When you are opting to take a loan with LoanzBazar you won’t be worrying about documents.
The loan process at LoanzBazar is completely transparent. You do not need to pay any processing fee or other charges while applying for a loan on plot.
There are many ways in which people can spend their loans on plots. These are common loans at LoanzBazar which can be used to build apartments, flats, offices, practice agriculture or start shops on the plot.
Avail our personal loans through your preferred platform and enjoy unmatched convenience at your fingertips…
Interest rates in different banks differ but aren’t any major difference. The interest rate in Maharasthra bank is the lowest at 6.40%-7.60% while it is the highest at 8.10% -10.60%.
| Bank Name | Rate of Interest for Salaried Employee |
|---|---|
| HDFC Bank | 10.99% - 17.85% |
| Axis Bank | 11.99% to 24% |
| ICICI Bank | 10.99% - 17.85% |
| Standard Chartered Bank | 11% - 16% |
| IndusInd Bank | 14% - 16% |
| Kotak Bank | 11.50% - 24.00% |
| Bajaj Finance | 14.25% - 16.75% |
| HDB Finance | 14% - 21% |
| Fullerton Finance | 13.00% - 24.00% |
| State Bank of India | 11.00% - 17.65% |
| IDFC Bank | 10.99% - 17.85% |
| IDFC Bank | 10.99% - 17.85% |
| Tata Capital | 13.50% - 18% |
| Yes Bank | 12.50% - 16.00% |
A plot loan is given for a plot with no constructed building while a home loan is specifically sanctioned for a land where a building is either being made or will be constructed.
It depends on you, if you want to buy a land go ahead and do that. However, plot loans do not have tax benefits, have less loan to value ratio, and have less repayment tenure.
Yes, you can make easy payments on your loan through EMI.
No, there are no fixed criteria to apply for a loan on the plot. However, you have to be an Indian citizen between the age of 18-65 years.
Yes, you can use your plot for any purpose you want to use it.
