Mortgage refers to offering Property in form of Owned House, Office, Shop, any Structured Construction, etc. as Collateral to Lenders against Availment of Loan. Borrowers can take Mortgage Loan (Loan against Property) for Business and Personal purposes.
Interest rates on such loans are low compared to Personal Loans as Security is provided to the Lenders (Banks/NBFCs). Amount of Loan shall be determined by Lenders based on the Income eligibility and Market Value of the Property given as Collateral.