Frequently Asked Questions

Know everything about Bank auction properties

What is the payment schedule?

Loan repayment schedule varies for each banks and depends on your credit score. It usually ranges from 1—10 years.

What is the rate of interest?

Rate of interest varies for each bank and is usually 1% to 2% higher than usual home loans.

Can I get a loan to pay for the property?

Regulatory rules around secured loans are drafted in such a a way that only the banks auctioning a property can process a loan to pay for that property. Not all banks will process a loan to pay for their auctioned property due to their internal rules on conflict of interest.

Hecta is bringing its loan product in collaboration with leading financial institutions soon, which will enable you to pay for a property bought from any financial institution.