Overview of a Loan Against Property in Baroda
Baroda, also known as Vadodara, is the second-largest city in Gujarat. Various large-scale industries are located here. Several recent infrastructural developments in Baroda have boosted the real estate sector. Whether you need funds to buy a property in Baroda or need funds to start a business of your own in the city, opting for a Loan Against Property from Bajaj Housing Finance can provide you with the financial support you need, offering competitive interest rates, flexible repayment options, and quick approval processes.
A Loan Against Property (LAP) is a secured loan offered against any immovable commercial or residential property. The loan can be used for housing-related expenses, debt consolidation, or any other business needs.
Features and Benefits of a Loan Against Property in Baroda
Here are some benefits for people looking to avail of a Loan Against Property in Baroda:
Sizeable Loan Amount
Bajaj Housing Finance offers Loans Against Property of Rs.5 Crore* or higher basis eligibility, ensuring that the loan amount is not a barrier to achieving your goals.
Flexibility in Fund Use
The loan amount received from Bajaj Housing Finance under a Loan Against Property can be used for any purpose. The borrower can use it to fund a property purchase, business expansion, or home renovation, among other things.
Quick Disbursal
Our minimal documentation requirements ensure easy and quick disbursal within 72 hours* post document verification and approval.
Longer Tenure
With Bajaj Housing Finance, you can repay your Loan Against Property over a period extending up to 17 years. This ensures feasibility and a stress-free repayment cycle.
Competitive Interest Rate
Applicants who meet the eligibility criteria can benefit from the competitive interest rates offered by us. We offer interest rates starting as low as 9.40%* p.a. for salaried and professional applicants.
Calculate Your Loan Against Property EMI
Repayment Schedule
Documents Required for a Loan Against Property in Baroda
To avail of a Loan Against Property, you should keep the following documents*** ready:
Self-Employed Applicants:
- Mandatory documents such as PAN Card or Form 60
- Identity proof such as Aadhaar Card, Voter ID, Passport, Driving License, Utility Bills, or any other government-approved photo identity and/or address proof
- Document of business ownership, such as Partnership Agreement and Registration Certificate
- Primary bank account statements for the last 6 months
- Income Tax Return
- Financial documents such as Balance Sheet and Profit and Loss Statement
- Property Documents
Salaried Applicants:
- Mandatory documents such as PAN Card or Form 60
- Identity proof such as Aadhaar Card, Voter ID, Passport, Driving License, Utility Bills, or any other government-approved photo identity and/or address proof
- Pay or Salary Slips for the last 3 months, IT return, bank account statement
- Property Documents
Our representatives may ask for additional documents at the time of loan processing. These requirements will be communicated to you by our team.
***Additional documents may be required at the time of loan processing.
Eligibility Criteria for a Loan Against Property in Baroda
For Self-Employed Applicants:
- The applicant should be a residing citizen of India between the age of 70 and 23 years**.
- They should be able to show at least 3 years of business vintage.
- Their CIBIL score should ideally be 750 or higher.
- They should be the rightful owner of the property they wish to mortgage.
For Salaried Applicants:
- The applicants should be a residing citizen between the age of 23 and 60 years**.
- They must be employed with a reputed company and should be able to show at least 3 years of work experience.
- Their CIBIL score should ideally be 750 or above.
**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.
Steps to Apply for a Loan Against Property Online in Baroda
Applying for a Loan Against Property with Bajaj Housing Finance is simple and easy. Simply follow these steps:
- Go to our website and open our Loan Against Property application form.
- Enter personal details, such as name, phone number, salaried/self-employed, type of loan, monthly income, PIN code, loan amount.
- Generate and enter your OTP
- Submit the form and someone from our team will connect within the next 24 hours to explain the steps ahead.
*Terms and conditions apply.
To apply for a Loan Against Property in Baroda, follow these steps:
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Go to our Loan Against Property application form.
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Enter personal details.
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Enter the PIN code and the loan amount.
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Generate and enter the OTP.
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Fill in the rest of the form and submit it.
After submission, our representatives will contact you and take you through the next steps.
You can apply for a Loan Against Property in Baroda and expect the funds to be disbursed in your bank account within 72 hours*.
Here is an indicative list of documents you will have to submit based on your employment type:
- Aadhaar Card, Voter ID, PAN Card, or Form 60 (mandatory)
- Address proof
- Salary slips for the past 3 months, Income Tax Return (ITR) documents, and Bank statements for the last 3 months (for salaried applicants)
- Bank statements for the past 6 months and Business vintage proof (for self-employed applicants)
- Documents related to the property being mortgaged
You can find out your eligibility for a Loan Against Property in Ahmedabad with ease using our housing loan eligibility calculator.
