Loan Against Property of up to Rs.60 Lakh
A Loan Against Property is a secured loan that a borrower can obtain by pledging their existing commercial or residential property with Bajaj Housing Finance as collateral. Borrowers can avail themselves of a sizeable sum of money, which can help tackle any expense that they may have. Bajaj Housing Finance offers a Loan Against Property of up to Rs.60 Lakh and even more, that you can comfortably repay over a span of up to 17 years.
Rs.60 Lakh Loan Against Property: Features and Benefits
Competitive Interest Rates
Salaried and professional individuals can benefit from Bajaj Housing Finance's competitive interest rates, which start as low as 10.10%* p.a.
Flexible End-Usage
The money you receive can be used to fund any housing or business expenses. It can also be used for debt consolidation.
Sizeable Sanction
Depending on the property that you mortgage you can receive a sizeable sanction of Rs.5 Crore* or higher. The final sanction amount is based on your eligibility.
Quick Disbursement
Because Bajaj Housing Finance recognizes that a Loan Against Property is an excellent way to address any financial needs, you can expect a quick disbursement within 72 hours* of submitting your documents.
Long Term Tenor
Bajaj Housing Finance allows you to choose a long-term tenor of up to 17 years to repay your loan comfortably.
Interest Rate Applicable on Rs.60 Lakh Property Loan
Our competitive interest rate on a Loan Against Property can benefit both salaried and self-employed applicants. For salaried applicants, the interest rate begins at 10.10%* p.a. and for self-employed applicants it begins at 9.75%* p.a.
You can become eligible for the best interest rates by following these quick tips:
- Consider disclosing all your income sources to demonstrate your repayment capacity. Submitting documentation proof for all your income sources can help strengthen your Loan Against Property application.
- When your credit score is 750 or higher, you can easily apply for a Loan Against Property. A high CIBIL score can help you secure favorable lending terms and feasible interest rates. If your CIBIL score is less than 750, you should consider improving it before applying for a Loan Against Property.
To know more about the interest rates applicable on a property loan of Rs.60 Lakh, please click here.
Documents Required for Rs.60 Lakh Property Loan
Bajaj Housing Finance requires a few documents to process your loan. Keep the necessary documents ready at the time of submission to increase your chances of getting approved quickly. The documentation required differs primarily according to the type of employment.
Salaried Applicants
- Identification proof such as Aadhaar Card, Driving License, and Voter ID
- Mandatory documents such as PAN Card or Form 60
- Address proof such as Utility bills, Property Tax Receipts, Ration Card, or any other government approved photo identities
- Employment proof such as Employment Certificate and Company ID Card
- Income proof such as Latest salary slips, Form 60, banking statements for the past 3 months, and Income Tax Returns
- Documents of the property that you are looking to mortgage such as Title Deed
Self-Employed Applicants
- Identification and address proof remain the same as salaried applicants
- Mandatory documents same as salaried applicants
- Proof of business such as Partnership Deed and Registration Certificate
- Income proof such as banking statements for the past 6 months, Income Tax Returns, Balance Sheet, and Profit and Loss Statements
- Documents of the property that you are looking to mortgage such as Title Deed
Note: This list is only indicative, you may be requested for additional documents at the time of applying.
Apply for a Property Loan Up to Rs.60 Lakh
Bajaj Housing Finance has a simple application process for a Loan Against Property. Here's how to apply for a Loan Against Property online:
Step 1: Visit the Bajaj Housing Finance website.
Step 2: Navigate to the Loan Against Property section.
Step 3: Click on 'Apply Now'.
Step 4: Upon being redirected to the Loan Against Property Application Form you will be required to enter the following details:
- Full name
- Mobile number
- Employment type (salaried, self-employed, or professional)
- Loan type
- Monthly salary
- PIN code
- Required loan amount
Step 5: Click on 'Generate OTP'.
Step 6: Enter the OTP and fill out the rest of the form.
Step 7: Submit the application form.
After you submit the application form, a customer representative from Bajaj Housing Finance will contact you to walk you through the next steps, which include document submission and verification.
*Terms and conditions apply.
