Rs.4 Crore Loan Against Property: Overview
If you need a Rs.4 Crore loan, one of your options is to opt for a Loan Against Property (LAP). Under LAP, one can get quick access to such a substantial amount of money.
A Loan Against Property is a secured loan. It's a loan offered against a property - residential or commercial - pledged as security. The ownership rights of the property continue to stay with the borrower. However, the lender needs to make the loan repayment on time to retain the ownership.
Rs.4 Crore Loan Against Property: Application Process
Applying for a Rs.4 Crore Loan Against Property would involve the following steps:
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Make an Application
You may be asked to provide your personal details and details related to your property. This can be done either online or at a branch office location. -
Confirm All Details and Submit the Required Documents
Once your lender has received your application, someone from their team will call to verify the information provided by you in the form. Post this, you will be required to submit all the documents. -
Document Verification
Once you have submitted all the documents, your lender will cross-verify each of the documents submitted by you. Any wrong information provided by you will immediately lead to loan application rejection. -
Get a Sanction Letter
Once your lender is convinced that you will be able to repay a 4 Crore Loan Against Property, they will release a sanction letter which will contain important details, such as the loan amount they are willing to give you, the interest rate offered, loan tenor, etc. -
Loan Disbursal
Once the second round of document verification is over, your lender will send you the final loan agreement.
4 Crore Loan Against Property Eligibility Criteria
4 Crore is a substantial amount. Therefore, no lender will sanction you a loan if you do not meet their eligibility requirements. The eligibility criteria for a Loan Against Property vary from lender to lender. Here are Bajaj Housing Finance's eligibility criteria for a 4 Crore Loan Against Property.
| Salaried Applicants | Self-Employed Applicants |
|---|---|
| The applicant must be an Indian citizen living in a city where Bajaj Housing Finance operates. | 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 to 60 **years. | The applicant must be between the ages of 25 to 70** years. |
| The applicant must have at least 3 years of work experience either at an MNC, or a Public or Private sector company. | The applicant's business must be able to generate a consistent source of income and have been in operation for at least 5 years. |
Bajaj Housing Finance offers loans against property at interest rates starting as low as 9.75%* p.a. for self-employed individuals. With us, you can get access to a loan amount as high as Rs.5 Crore or even more. So, what are you waiting for! Go to our website and start your loan application today. And while you are there, use our Loan Against Property EMI Calculator to know your EMIs and plan your loan journey with us in advance.
**The maximum 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
*Terms and conditions apply.
