Loan Against Property in Faridabad: Overview
Faridabad is a major satellite city located around Delhi and is only 284 kilometers from Chandigarh. It is considered an upcoming real estate investment hotspot, due to the fact that Faridabad is the 3rd fastest-growing city. Availing of a Loan Against Property can help you leverage the value of your property for your investments in Faridabad.
What are the Features of a Loan Against Property in Faridabad?
A Loan Against Property has numerous advantages that will assist you in meeting your financial obligations without depleting your savings. Here are some of the benefits of a Loan Against Property in Faridabad with Bajaj Housing Finance:
Sizeable Loan Amount
Bajaj Housing Finance can assist you in obtaining funding worth Rs.5 Crore*, or even higher, basis eligibility. Factors such as the valuation of your property, the borrower’s eligibility, etc. can help you claim a sizeable amount.
Minimal Documentation
The process for applying for a Loan Against Property in Faridabad is simple and straightforward. You are required to submit a prescribed set of documents and doing so will help you get approved quickly without hassles.
Flexible Repayment Tenor
Bajaj Housing Finance understands that a Loan Against Property is a sizeable financial undertaking and the borrower will need time to repay the loan, which is why a flexible repayment tenor of up to 18 years is offered on a Loan Against Property. This allows the borrower to plan their finances accordingly and repay the loan in a comfortable manner.
No Hidden Cost
Your Loan Against Property application is processed in the most transparent manner possible, with no extra hidden costs. The easy-to-understand terms and conditions will help you stick to your repayment schedule with ease.
Balance Transfer Facility
You can even transfer your existing loan over to Bajaj Housing Finance using the Loan Against Property Balance Transfer facility. The low interest rates, flexible repayment options, and reduced EMIs will help you save a sizeable amount.
Speedy Disbursal
With Bajaj Housing Finance, you can rest assured that you will receive the funds almost immediately. The loan amount is disbursed within 72 hours* of submitting your documents and the verification process.
Customised Repayment
With our customised repayment options, you can plan your EMIs as per your finances and repay your loan in a manner feasible for you.
What Documents are Required for a Loan Against Property in Faridabad?
One of the most attractive aspects of a Loan Against Property from Bajaj Housing Finance is its minimal documentation requirement. Such simple procedures make the entire experience hassle-free for the borrower. Here is a list of documents that you must submit when applying for a loan against property:
- Identification proof such as your Aadhaar Card, PAN Card, Passport, Voter ID
- Address proof such as your property tax receipts, utility bills (gas, electricity, and water)
- Income proof such as your most recent salary slips
- Employment proof such as your company ID card (in case of a salaried employee)
- Proof of business such as your business profile, partnership deed, memorandum of association (in case of a self-employed individual)
- Income tax returns
- Photocopy of the documents of the property you are looking to mortgage such as title deed, sale deed, and registration certificate
Note: This list is indicative, and you may be asked to provide additional documents required for a Loan Against Property as and when needed.
What is the Interest Rate for a Loan Against Property in Faridabad?
For salaried and professional applicants, the interest rate on a loan against property starts as low as 10.10%* p.a. When you opt for a floating interest rate, you have the option to either link it to an external benchmark, i.e., the repo rate, or our internal benchmark.
What are The Eligibility Criteria for a Loan Against Property in Faridabad?
- The applicant must be a resident of India.
- The applicant must have a work experience of up to 3 years (as a salaried individual or self-employed professional) or a vintage of 5 years in the existing business.
- The age** criterion for a salaried employee states that they should be between 28 to 58 years old and a self-employed applicant should be between 25 to 70 years old.
- A CIBIL score of 750 or above is ideal for approval.
**The maximum age is considered as age at the time of loan maturity.
*Terms and conditions apply
