Why is a secured loan better than any other loan?
Secured loans are preferred by both customers and lenders. Customers prefer secured loans because of the comparatively lower rate of interest. Lenders prefer secured loans because of the relatively lesser risk involved.

• What is the amount I can borrow as a secured loan?
There is no limit to the amount that you can take as a secured loan. The greater the value of collateral, the more you will be able to draw as a secured loan. Secured loans must be taken according to your paying capacity.

• Over what period can I spread the repayment of my secured loan?
The standard repayment period extends from 3 to 25 years. The greater the repayment period, the higher is the cost of the secured loan. This is because interest will be calculated on the extended period.

• Do I have to move house on taking a secured loan?
There is no requirement to move house on taking a secured loan. By taking a secured loan, you only transfer the rights to the property. You are eligible to stay in the house as long as you are regular in your payments.

Can I pay the secured loan prematurely?
We allow customers to pay the balance left on the secured loan prematurely. We reduce the balance amount of the secured loan with a rebate applicable for prepayment.

Can I overpay on the secured loan?
We do not accept overpayment on secured loans, as this will require unnecessary calculation of interest and monthly payment after every overpayment.