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Education is the pillar of success. Without it, nobody can live the life of their dreams. Be it higher education from a prestigious institution or taking care of regular expenses, the cost of getting world-class education may be well beyond the financial capacity of many individuals. However, when the aim is noble, the lack of money should never be an issue.

A loan against property is the best way to meet education expenses without putting any additional burden on your existing resources. Read on to know the top-6 reasons why you should apply for a loan against property to fund your child’s educational dreams.

What is a Loan Against Property?

A loan against property, or mortgage loan, is a loan granted by lenders against collateral security. You may apply for a loan against property at attractive interest rates if you own a property. A lender would evaluate the status and location of your property and intimate you about the loan amount you are eligible for.

The Top-6 Reasons Why You Should Choose a Loan Against Property For Sponsoring Your Child’s Education

  1. Easy Loan Approval

Most borrowers think that an education loan is best suited for meeting education expenses. However, often education loan applications get rejected due to not meeting income criteria, poor credit score, or seeking admission to a college that is not approved by AICTE or UGC. In contrast, a loan against property gets approved easily, which you may use to sponsor your child’s education.

  1. Low Rate of Interest

Loan against property interest rates can be floating or fixed. Floating rate of interest changes according to market dynamics and has been steadily declining since 2014. At present, the floating rates start from a lowly 9.80%. Hence, sponsoring your child’s education will not be a cause of concern anymore.

  1. Relaxed Eligibility Criteria

Unlike an education loan, a loan against property lays more weightage to just one document – your property deed. If the property is without any dispute, you may expect to clear a major part of the approval process. While you still need to submit a few other documents, those are for regulatory purposes.

  1. Wide Range of Properties

You may apply for a loan against property by mortgaging your residential or commercial property. Lenders like PNB Housing even allow you to apply for a mortgage loan by submitting documents of a plot of land you own. The flexibility in the type of properties enables you to apply for a mortgage loan without worrying about property type.

  1. High Loan Amount

With a loan against property, you can get up to 60% of your property’s value as a loan. An education loan, on the other hand, has a maximum cap, beyond which you cannot avail. Hence, a loan against property would suit you more if you don’t want your child to compromise on the quality of education.

  1. Long Repayment Tenure

The repayment tenure of loans against property is much higher than most other loans. PNB Housing, for example, offers you repayment tenure of 20 years, which means repaying the principal and interest will never be a burden on you.


Child’s education is a dream that you strive hard to fulfill. With loans against property available at attractive interest rates, nothing can stop you from making your child’s dream a reality.

By Abbas Ali

I am Abbas Ali and I am a professional content writer and blogger. It is my passion to write about different topics including technology, travel, fashion, business, and many more.

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