Mortgage Loan

A mortgage loan is a secured loan, based on pledging an immovable property, such as a house or commercial property, or any other property as collateral to the bank, financial institutions, or lender. As per the property value and repaying capacity, the borrower will get the loan amount.

Mortgage loans can be used for business purposes or personal requirements. Until the repayment of the loan amount, such property will be kept as collateral with the lender. Loan amount and rate of interest will vary from bank to bank.