Any loan against a residential or commercial property can be used for both personal and business purposes. In fact, you can use loan against property for anything other than speculative or non-prohibitive activities.

Basically, the bank looks at your repayment capacity. For calculating the loan amount, your income, age, qualifications, number of dependants, spouse’s income, assets, liabilities, stability and continuity of occupation and savings history are taken into consideration. However the eligibility of loan does not, generally, exceed 60 percent of the market value of the property.

A Personal loan means borrowing money from the bank for your personal needs, without giving any security. The advantage of a personal loan is that it requires minimum documentation and you can get the loan quickly.

NPA can be resolved by providing another bank with transfer of loan and also by providing private lenders to resolve NPA