Details of a Loan Against Property in Kanpur
Smart city initiatives in Kanpur integrate advanced technology to enhance urban infrastructure, improve public services, and promote sustainable development, positioning Kanpur as a model for smart city initiatives in India. The booming business sector in the city has led to people investing in Kanpur’s real estate for years now. If you own a property – residential or commercial – in this city, you can leverage it to secure funds to meet any business or housing requirements.
A Loan Against Property is a type of secured loan that draws lower interest rates. These features have made Loans Against Property a preferred financial option. If you are looking to avail of a Loan Against Property in Kanpur, choose Bajaj Housing Finance to benefit from a competitive interest rate and quick disbursal.
Features and Benefits of a Loan Against Property in Kanpur
Minimal Documentation Requirements
Bajaj Housing Finance asks for minimal documentation to process Loans Against Property in Kanpur. This makes applying for a loan and getting approved quite simple and hassle-free.
Simple Eligibility
Our eligibility criteria for property loan are simple and easy to meet, ensuring quick verification and disbursal.
High Loan Value
Whether it is for business expansion or home renovation, you can get a loan worth Rs.5 Crore* or more, basis eligibility, with Bajaj Housing Finance Loan Against Property.
End-Use Flexibility
Property loans by Bajaj Housing Finance can be used to start a business, fund housing expenses, or for debt consolidation.
Competitive Rate of Interest
We offer property loan interest rates starting as low as 9.40%*p.a. for eligible salaried and professional applicants. Low interest rates make EMIs feasible for borrowers and allow them to repay their loans easily.
Flexible Loan Tenor
At Bajaj Housing Finance, we give borrowers the option to repay their loan over a period stretching up to 17 years. This helps borrowers plan and repay their loans easily without disturbing their financial goals.
Option of Flexi-loan
Flexi-loan is a financial option offered by Bajaj Housing Finance to its property loan borrowers. This facility allows borrowers to borrow multiple times from a pre-sanctioned loan amount and pay interest only on the borrowed amount. This facility allows borrowers to save on the total interest paid.
Easy Balance Transfer Facility
By transferring your property loan to Bajaj Housing Finance, you not only enjoy the benefits of low-interest rates but also get the chance to avail of a Top-up Loan.
Calculate Your Loan Against Property EMI
Repayment Schedule
Eligibility Criteria for a Loan Against Property in Kanpur
Borrowers planning to avail of a property loan from Bajaj Housing Finance need to fulfil the following criteria:
Self-Employed Applicants:
- The applicant must be an Indian resident
- They must be between the age of 23 and 70 years**
- They must be able to show at least 3 years of business vintage
- Their credit score should ideally be between 750 and 900
- The property against which the loan is being availed of should be in the name of the borrower
Salaried Applicants:
- They must be a resident of India
- The borrower’s age should be between 23 and 60 years**
- The borrower must have at least 3 years of work experience in a reputed company
- Their credit score should ideally be between 750 and 900
- They 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.
Documents Required for a Loan Against Property in Kanpur
To experience a hassle-free loan process in Kanpur, keep these documents ready with you:
Self-Employed Applicants:
- Identity and address proof like Aadhaar Card or Voter’s ID Card
- Mandatory documents like PAN Card or Form 60
- Balance sheet or Profit & Loss Statement for the last few years
- Form 16/Income Tax Return proof
- Original property documents
Salaried Applicants:
- Identity and address proof of the borrower (Voter’s ID Card or Aadhaar Card)
- Mandatory documents like PAN Card or Form 60
- Last few pay slips of the borrower
- Original property documents
Note: Additional documents may be required at the time of loan processing.
Steps to Apply for a Loan Against Property in Kanpur Online
Applying for a property loan from Bajaj Housing Finance is easy. To apply offline, you can visit any of our branches and our representatives will help you complete the whole process smoothly.
If you want to make an application online, follow these steps:
- Visit the Loan Against Property application form hosted on the official website.
- Provide a few personal details such as your name and number along with loan-related details including the type of loan and loan amount.
- Generate an OTP and enter it once received.
- Fill in the required details related to your property and finances.
- Submit the application form.
After this, our representative will call you within 24 hours* and walk you through the next steps.
*Terms & conditions apply.
If you want to leverage your property for business or housing needs, Bajaj Housing Finance ensures quick disbursal within 72 hours* after document verification.
The documents required to apply for a Loan Against Property in Kanpur are:
For Salaried Applicants
- Aadhaar Card, Voter ID, PAN Card, or Form 60 (mandatory)
- Proof of address
- Salary slips for the last 3 months
- Income Tax Return (ITR) documents
- Bank statements for the last 3 months
- Property documents for the mortgage
For Self-Employed Applicants
- Aadhaar Card, Voter ID, PAN Card, or Form 60 (mandatory)
- Proof of address
- Bank statements for the last 6 months
- Proof of business vintage
- Property documents for the mortgage
Note: This is a tentative list. Additional documents may be requested by our representative.
You can calculate your eligibility for a Loan Against Property in Kanpur by using our housing loan eligibility calculator.
