Loan Against Property : Overview
Be it a financial emergency or the need for funds to start a new venture, if you need access to a substantial amount of money at a relatively low interest rate, a Loan Against Property is your best bet. This type of loan not only allows you to avail of a sum against your property as a collateral, but it also allows you to unrestricted use the property in question – be it residential or commercial.
Need a 3.5 Crore Loan Against Property? With Bajaj Housing Finance, eligible borrowers can get access to funds worth Rs. 5 Cr or more.
Bajaj Housing Finance Loan Against Property: Features and Benefits
Applicants who need a 3.5 Crore Loan Against Property can apply with Bajaj Housing Finance to check their eligibility and enjoy the below benefits.
Substantial Loan Amount
Bajaj Housing Finance offers sizeable funding for borrowers who meet our eligibility criteria and showcase the right eligibility in terms of the property and their employment, credit, and financial profile, among others.
Competitive Interest Rates
Bajaj Housing Finance offers loans against property to both salaried and self-employed individuals at competitive interest rates. While our interest rates start from 9.75%* for self-employed applicants, the final rate offered varies on the basis of your profile.
Flexible Repayment Tenor
Bajaj Housing Finance gives borrowers the option to repay their loan over a period extending up to 18 years. This ensures affordability in the long run and makes repaying the loan simple and stress-free.
Minimal Documentation Requirements and Simple Application Process
The document requirements for a Loan Against Property with us are minimal and our eligibility criteria are easy to meet. Further, our application process is simple and straightforward, making it easy for borrowers to apply for a loan.
Quick Disbursal
With us, you can expect the funds to be disbursed in as few as 72 hours* of document submission and approval, making a Loan Against Property the ideal solution for urgent financial needs.
Documents Required for a Rs. 3.5 Crore Loan Against Property
If you are planning to apply for a Rs. 3.5 Crore Loan Against Property, keeping these documents ready will ensure a smooth and hassle-free application process.
- Proof of identity and address documents: PAN, Aadhar, Voter ID, Driving License, Passport, Utility Bills, etc.
- Proof of employment and income documents in the case of salaried applicants: Latest salary slips, Form 60, income tax returns, last 3 months' bank account statements and the identity card issued by the employer.
- Proof of income and business ownership documents in the case of self-employed individuals: Partnership agreement, registration certificate, income tax returns, bank statements of the last 6 months, balance sheet and profit and loss statement
- Documents of the property that will be pledged as security
Note that the list is only indicative, and you may be asked to provide additional documents required for a Loan Against Property as and when needed.
Eligibility Criteria for a Rs. 3.5 Crore Loan Against Property
Prospective borrowers looking to apply for a Rs. 3.5 Crore Loan Against Property should meet the below criteria.
Salaried Applicants
- The applicant must be an Indian citizen living in a city where Bajaj Housing Finance operates.
- The applicant must be between the ages of 28 and 60 years.
- The applicant must have at least 3 years of work experience either at an MNC, or a Public or Private sector company.
Self-Employed Applicants
- The applicant must be an Indian citizen living in a city where Bajaj Housing Finance operates.
- The applicant must be between the ages of 25 and 70 years.
- The applicant's business must be able to generate a consistent source of income and have been in operation for at least 5 years.
Note that the upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for salaried applicants is subject to change, depending on the property profile.
*Terms and Conditions Apply
