The evaluation of the property can be done by the bank or any third party valuer. The lender takes various factors into consideration to decide the loan amount and to reduce the risks. The valuer’s evaluation of the property plays an important role in deciding the loan amount. Once the application is submitted to the bank it takes about 7-10 working days for the loan amount to be processed. It also depends on one’s profile and documentation. The rate of interest for such type of loan can be either fixed or floating. But generally, it’s a floating rate of interest.