Loan Against Property of up to Rs.30 Lakh
A Loan Against Property, also referred to as a property or mortgage loan, is a type of secured loan wherein borrowers can access substantial funds by mortgaging their residential or commercial property. With us, availing of a Loan Against Property comes with several benefits including flexible repayment tenor and end-use flexibility. You can avail of a property loan of up to Rs.30 Lakh to meet housing or business-related expenses or to consolidate your debts.
Features and Benefits of Rs.30 Lakh Loan Against Property
Swift Approval and Disbursal
After submitting your Loan Against Property application form, you can expect to receive funds in your account as early as 72 hours* after document submission, verification, and approval.
Flexible Tenor
Repay the loan at your own pace as per your financial suitability over a long tenor of up to 17 years, ensuring manageable EMIs.
Competitive Interest Rates
As a secured form of loan, one can obtain a low rate of interest for a Loan Against Property. The interest rates vary depending on the applicant’s loan eligibility.
Sizeable Loan Amount
You can secure a substantial loan amount based on factors such as your eligibility and the property being mortgaged.
End-Use Flexibility
Our Loan Against Property comes with end-use flexibility, which means, you can use the funds to meet any urgent expenditures related to business or housing. You can also use the funds to consolidate your debts.
Balance Transfer Facility
You can transfer the existing Loan Against Property balance to Bajaj Housing Finance for a reduced interest rate, which can bring down the cost of borrowing. Further, along with better interest rates, you can also secure Top-up Loans to meet your housing requirements.
Doorstep Document Collection
We offer doorstep pick-up and delivery of the required documentation from your home or office to facilitate quicker loan approvals.
Eligibility Criteria to Avail of a Loan Against Property of Rs.30 Lakh
Aspiring borrowers should meet the eligibility criteria to stand a chance to secure favourable loan terms. The criteria differ based on the applicant’s employment type. Here is a list of some standard parameters:
Applicant’s Nationality
All applicants must be resident Indian citizens.
Age of Applicant
Salaried applicants should be between 23 and 60 years** of age while self-employed individuals should be between 23 to 70 years** of age.
**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
Employment Status
We offer loans to salaried applicants who have a minimum work experience of 3 years in the public or private sector. For self-employed persons, we offer loans to those with steady sources of earnings having a vintage of over 3 years in the current business enterprise.
CIBIL Score
This is one of the major aspects of a property loan that determines eligibility. It is advisable to possess a CIBIL or credit score of 750 and above to get competitive interest rates with attractive loan terms.
Location of Property
The property to be mortgaged should be in a city where Bajaj Housing Finance has its branch offices.
Documents Required to Avail of a Loan Against Property of Rs.30 Lakh
Depending on the employment status, applicants need to furnish relevant documents so that we can verify and process their loan application. The common list of paperwork is as follows:
- Proof of identity and address – PAN Card, Aadhaar Card, Voter’s ID, Passport, Driving License, Utility Bills or any other government-approved photo identity and/or address proof
- Property documents – Papers of the property to be mortgaged, title documents
- Mandatory documents – PAN Card or Form 60
For Salaried Applicants:
- Identity card issued by the employer
- Latest salary slips
- Bank account statements for the last three months
- Income tax returns
For Self-Employed Applicants:
- Documents of business ownership like Partnership Agreement and Registration Certificate
- Primary bank account statements for the last six months
- Income tax returns
- Financial documents such as balance sheet, profit and loss statement
Note: This list is only indicative, you may be requested for additional documents at the time of applying.
The process to apply for a Loan Against Property is simple. Once you determine loan feasibility, you may visit our website and submit the loan application online. Applicants should keep the documents handy to ensure a smoother loan approval.
*Terms and conditions apply.
Steps to Apply for a Rs.30 Lakh Loan Against Property
Planning to apply for a Rs.30 Lakh Loan Against Property with us? Simply follow these steps to apply online:
- Visit our online Loan Against Property application form.
- Provide your personal details in the required fields.
- Choose the type of loan you wish to apply for and specify your employment type.
- Fill in your financial information based on your employment category.
- Enter your PIN code and the loan amount you wish to borrow.
- Click on ‘Generate OTP’ and enter it.
- Enter the property-related details as required.
- Submit the form.
Once submitted, a Bajaj Housing Finance representative will get in touch with you within 24 hours* to guide you through the remaining steps.
*Terms and conditions apply.
You can skip manual calculations and use our property loan EMI calculator to estimate your EMIs for a Rs.30 Lakh Loan Against Property. To view the approximate EMI amount, you need to enter the required loan amount, the tenor over which you can repay the loan comfortably, and the applicable rate of interest.
No, you cannot avail of a Loan Against Property of Rs.30 Lakh without a collateral.
If you are planning to avail of a Rs.30 Lakh Loan Against Property, consider applying with Bajaj Housing Finance. With a competitive interest rate and quick disbursal within 72 hours* after document verification, you can meet your business or housing requirements easily.
Typically, a CIBIL score of 750 or above is considered good to secure a Loan Against Property at favourable terms. A low credit score may lead to a higher interest rate. To improve your eligibility for a Rs.30 Lakh Loan Against Property, focus on improving your credit score and maintaining a healthy financial portfolio.
Bajaj Housing Finance offers quick loan processing and approval. If you avail of a Rs.30 Lakh Loan Against Property with us, you can expect an approval within 24 hours* post document verification.
