Loan Against Property in Bhubaneshwar: Overview
Bhubaneshwar, nicknamed the 'Temple City', is the capital of the Indian state of Odisha. It has developed into one of the fastest growing educational and business hubs in the country and therefore, more and more people have invested in the real estate sector of the city hoping lucrative returns. If you have a property in Bhubaneshwar, you can use it to your advantage by taking a loan against it and using the funds for business requirements.
A Loan Against Property is a secured loan where the borrower pledges their residential or commercial property as collateral for funds. Since these loans involve minimum risk for the lender, interest rates on such loans are low. Read on to know how availing of a Property Loan with Bajaj Housing Finance can help you invest in Bhubaneshwar.
Loan Against Property in Bhubaneshwar: Features and Benefits
Minimal Documentation Requirements
Easy and short documentation process makes availing of a Bajaj Housing Finance Loan Against Property in Bhubaneshwar simple, easy, and quick.
Easy Eligibility Criteria
Our Loan Against Property eligibility criteria are straightforward and easy to meet and therefore, it is quite unlikely that your application will ever get rejected.
High-Value Loan Amount
Looking for a big-ticket loan? We offers Property Loans of Rs.5 Crore* or more, basis eligibility. The loan amount one is eligible for, depends on factors such as the borrower’s income, age, the value of the mortgaged property, etc.
Competitive Interest Rates
The most important factor that must make you choose Bajaj Housing Finance for a Loan Against Property in Bhubaneshwar are our low Property Loan interest rates. With us, salaried and professional applicants can avail of a Property Loan at interest rates starting as low as 9.40%* Low interest rates make loan EMI payments easier for borrowers.
Quick Approval and Loan Disbursal
Simple eligibility criteria and minimum documentation requirements allow Bajaj Housing Finance representatives to process loans quickly and disburse funds within 72 hours* of document submission and approval.
Flexible Loan Tenor
Bajaj Housing Finance allows borrowers a flexible loan repayment tenor stretching up to a period of 17 years. Thus, borrowers can choose a repayment tenor that suits them the best keeping in mind their other financial obligations.
Flexi-loan Option
Our flexi-loan facility is another reason why you must avail of a Property Loan from Bajaj Housing Finance. This facility allows borrowers to avail of loans multiple times from a pre-sanctioned amount and pay interest only on the borrowed amount. This helps borrowers save on interest payment.
Easy Balance Transfer
Transfer your Home Loan balance to Bajaj Housing Finance and avail of low-interest loans along with the added benefit of a Top-up Loan.
Loan Against Property in Bhubaneshwar: Eligibility Criteria
Self-Employed Applicants:
- Must be a residing citizen of India
- The borrower must be aged between 23 and 70 years** at the time of loan maturity
- The borrower must be able to show at least 3 years of business continuity
- A 750 plus CIBIL score is recommended
- The borrower must be the owner of the property to be mortgaged
Salaried Applicants:
- Must be a residing citizen of India
- The borrower must be aged between 23 and 60 years** at time of loan maturity
- Must have a work experience of minimum 3 years in a reputed company
- A 750 plus CIBIL Score is recommended
- Must be the rightful owner of the property they wish to mortgage
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
Loan Against Property in Bhubaneshwar: Documents Required
Self-Employed Applicants:
- Mandatory PAN card or Form 60
- Aadhar Card, or Voter’s ID Card of the borrower
- Profit & Loss Statement
- Certificate of Income Tax Return
- Original Property Documents
Salaried Applicants:
- Mandatory PAN card or Form 60
- Aadhar Card, or Voter’s ID Card
- The last 3 months’ salary slip
- Original Property Documents
Please note that this is not an exhaustive list. We may need more documents from you at the time of loan processing. Any such requirements will be communicated to you by our team.
Loan Against Property in Bhubaneshwar: How to Apply
To avail of a Property Loan, follow the steps below:
- Go to the Bajaj Housing Finance’s website and open the loan against the property application form by clicking on “Apply now”.
- Fill in your basic details.
- Select the type of loan and the amount you want
- Generate OTP and click on the submit form button.
One of our team members will contact you within the next 24 hours* and explain the remaining steps of the process.
You can also visit one of our branches to apply for a Loan Against Property in Bhubaneshwar. Our staff members will help you complete the process and resolve any queries or doubts you may have regarding the application process.
*Terms & conditions apply.
