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 as a collateral. Borrowers can avail themselves of a sizeable amount, which can help tackle any housing or business expense that they may have. Bajaj Housing Finance offers a Loan Against Property of up to Rs.60 Lakh, or even more, that you can comfortably repay over a span of up to 17 years.
Features and Benefits of a Rs.60 Lakh Loan Against Property
Competitive Interest Rates
Salaried and professional individuals can benefit from our competitive interest rates, which start as low as 9.40%* p.a.
Flexible End-Usage
The funds that you receive through a property loan can be used to meet any housing or business expenses. It can also be used for debt consolidation.
Sizeable Sanction
We offer a sizeable loan amount depending on your eligibility the property to be mortgaged.
Quick Disbursement
We understand that a Loan Against Property is a viable financial solution to address your financial requirements. To meet your urgent expenses, you can expect a quick disbursal within 72 hours* of submitting your documents.
Long-Term Tenor
Bajaj Housing Finance allows you to repay your loan over a long-term tenor of up to 17 years.
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 9.40%* p.a. and for self-employed applicants it begins at 9.40%* 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.
It is advisable to estimate your EMIs for a Rs.60 Lakh Loan Against Property beforehand to plan your finances effectively. For this, you can use our Loan Against Property EMI Calculator. Based on the required loan amount, tenor, and interest rate, it provides an approximate EMI amount quickly.
For example, if you are a self-employed applicant, the EMI for Rs.60 Lakh Loan Against Property for a tenor of 10 years at an interest rate of 9.40%* p.a. will be Rs.77,310.
No, a Loan Against Property of Rs.60 Lakh can be availed of by mortgaging a residential or commercial property.
To apply for a Loan Against Property for Rs.60 Lakh, you can visit our nearest branch or apply online by accessing our loan application form and filling out the required details.
Your eligibility for a Rs.60 Lakh Loan Against Property depends on factors such as credit score, income, and age. A CIBIL score of 750 or higher increases your chances of securing a competitive interest rate.
Once your documents are verified, your Loan Against Property of Rs.60 Lakh can be approved within 24 hours*.
