Ever since the pandemic hit the limelight and the income from businesses started to plummet, the government has gone full throttle to provide relief in various forms to make the business viable. Be it the startup incubation program or attractive tax benefits; you will get plenty of motivation to initiate your own business. But, despite such benefits, setting up a business and giving it the right thrust can be challenging, as you still need a lot of money to shape it up.
If the thought of money has left you worried, a mortgage loan in India can come to your rescue.
A mortgage loan is a low-interest form of credit that lenders in India approve against a residential or commercial property. Hence, you can apply for a mortgage loan in India if you live or work in a self-occupied property or have a rented-out or vacant property. You may also pledge a plot of land to avail a mortgage loan from PNB Housing Finance.
Here’s how you can use a PNB Housing Finance mortgage loan in India to fund your business.
Why is PNB Housing Finance Mortgage Loan the Best in Class?
PNB Housing offers you a few distinct benefits which very few lenders are marketing mortgage loans in India offer. The following are a few.
You are Free to Utilise the Funds Any Way You Wish To
Setting up a business requires money for various things. Sometimes, you have to pay vendors, construct a building, pay upfront fees to book a room in a commercial complex, hire employees, buy machines, pay salaries, or any other thing as required to set up a business.
When you avail of a low-interest mortgage loan from PNB Housing Finance, there is no limitation to the end-use of funds. Hence, nobody will ever ask you about how you plan to use the money. The liberty to use the funds in any way you like gives you the right thrust needed to start your business.
The Eligibility Criteria is Simple and Straightforward
The primary requirement to apply for a mortgage loan in India is to have a legally-owned and dispute-free property that you can pledge to withdraw money. In addition to a property, you also have to stay within the age limit, which is usually between 21 and 65. Additionally, you have to be an Indian citizen to avail of a mortgage loan in India.
Mortgage Loan Interest Rates are Ultra-Low
Perhaps no other loan in India offers you the flexibility that a PNB Housing Finance mortgage loan can offer. And, while flexibility usually comes at a higher price, with PNB Housing Finance, it is the opposite. PNB Housing Finance mortgage loan interest rates start from 9.50% per annum. Moreover, you can apply for the loan even when your credit score is below zero. The maximum interest rate that the lender might charge is 10.65%. Additionally, you can get discounted interest rates if you are lucky enough to avail of a loan during festive season promotional offers.
Conclusion
With a PNB Housing Finance mortgage loan in India, starting your business will never be a challenge anymore. You can visit the lender’s website, fill in a few personal details, and quickly apply for the loan.
