A loan against property is a secured loan, which is approved by keeping the property as a mortgage. Loan against property can be either an owned land, a house, or any other commercial premises. Above all The property remains in collateral with the lender until the full loan amount is repaid. Probably, This type of secured loan can be an option for unsecured personal loans because there is no end-use restriction in it. Finally, the loan amount can be very high and in this case, the term is too long. In contrast, the debt against property interest rates is much less compared to an unsecured loan. However, you can use these loans for business purposes such as buying land, machinery, etc.