Loan Against Property for Professionals: Eligibility Criteria
Bajaj Housing Finance offers tailored Loan Against Property solutions for professionals to help them address various housing or business expenses. The eligibility criteria for a Loan Against Property for professionals is easy to meet, ensuring quick loan approval and disbursal. We offer property loans at competitive interest rates, making it a feasible credit tool for interested professionals.
Professionals need to meet the following eligibility parameters to apply for a Loan against Property:
- Applicant must be a residing citizen of India.
- Applicant must be between 28 and 58 years** of age (for salaried) or 23 and 70 years** of age (for self-employed).
- Applicant must be able to establish a stable source of income from a self-owned practice/firm (as a self-employed individual) or a public or private sector company or an MNC (as a salaried individual).
- A salaried applicant must have a minimum of 3 years of work experience in private or public sector company and a self-employed applicant must have a business vintage of at least 3 years.
- Applicant must own a property in any of the cities Bajaj Housing Finance operates in.
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit is subject to change, depending on the property profile.
Loan Against Property for Professionals: Documents Needed
The Bajaj Housing Finance Loan Against Property for professionals requires minimal documentation for faster loan processing.
The documents required are as follows:
- KYC documents
- PAN Card, Form 60 as mandatory document
- Medical registration certification
- Income Tax returns, balance sheet, and P&L account statements of the last 2 years
- Copy of property papers of the house to be mortgaged
For chartered accountants, the documents required are as follows:
- KYC documents
- PAN Card, Form 60 as mandatory document
- COP certificate
- IT returns, balance sheet, and P&L account statement of the last 2 years
- Mortgage documents
Please note that the list of documents mentioned is indicative. During loan processing, additional documents may be needed. The same will be communicated to you as and when required.
