Overview of a Loan Against Property in Kolkata
A Loan Against Property is a secured loan through which the borrower can secure sizeable funding by pledging their existing residential or commercial property as a collateral. The funds you receive can be used to cover a variety of housing or business-related expenses. You can also use the funds for debt consolidation.
Our Loan Against Property comes with several benefits such as a flexible repayment tenure and easy-to-meet eligibility criteria.
Features and Benefits of a Loan Against Property in Kolkata
Competitive Interest Rates
Salaried and professional individuals can apply for a Loan Against Property and benefit from interest rates as low as 9.40%* p.a.
Higher Loan Sanction Amount
We offer you a sizeable sanction of Rs.5 Crore* higher, depending on your property type and eligibility criteria.
End-Use Flexibility
The funds that you receive come with end-use flexibility, allowing you to put the funds to use for housing expenses, business needs, or debt consolidation.
Flexible Tenure
Another advantage of borrowing a Loan Against Property is that you can enjoy lengthy repayment tenures of up to 17 years and repay the amount at your pace.
Speedy Approval
A Loan Against Property is a viable way to avail of funds instantly. We disburse funds in your account within 72 hours* of submitting the documents and passing the verification checks.
Interest Rates for Loan Against Property in Kolkata
Bajaj Housing Finance offers competitive interest rates to salaried and self-employed individuals; the interest rate on LAP begins at 9.40%* p.a., for self-employed applicants. To learn more about Loan Against Property interest rates, click here.
Documents Required for a Loan Against Property in Kolkata
We require minimal documents to process your Loan Against Property in Kolkata. You need to submit the following documents:
For Self-Employed Applicants
- KYC documents such as Aadhaar Card or Voter ID
- Mandatory documents (PAN Card or Form 60)
- Profit & Loss statement
- Latest Income Tax Return (ITR)
- Property-related documents
For Salaried Applicants
- PAN Card or Form 60 (mandatory)
- Aadhaar Card or Voter ID
- Salary slips for the last 3 months
- Property-related documents
Note that this list is indicative.
Calculate Your Loan Against Property EMI
Repayment Schedule
Eligibility Criteria for a Loan Against Property in Kolkata
Applicants are expected to meet the basic eligibility criteria in order to enjoy the most competitive terms. To help optimise your application, consider using the Loan Against Property Eligibility Calculator. The following are the eligibility criteria you need to qualify for:
Eligibility Criteria for Salaried Individuals:
- Applicant should be an Indian resident.
- Applicant should be working at an MNC, or a public or private sector company.
- Applicant should be between 23 to 60 years** of age.
- Applicant’s property must be located in any of the cities we operate in.
- Applicant must have a minimum CIBIL score of 750.
Eligibility Criteria for Self-Employed Individuals:
- Applicant should be an Indian resident.
- Applicant should be able to establish business continuity for 3+ years.
- Applicant should be between 23 to 70 years** of age.
- Applicant’s property must be located in any of the cities we operate in.
- Applicant must have a minimum CIBIL score of 750.
**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.
We require minimal documents*** to process a Loan Against Property. The following table displays the documents required. We recommend keeping these documents ready so that the loan processing would be easy and streamlined.
| Eligibility Requirements | For Salaried Applicants | For Self-Employed Applicants |
|---|---|---|
| Proof of identity and address | PAN Card, Aadhaar Card, Voter ID, Passport, Driving License, Utility Bills, or any other government-approved photo identity and/or address proof | Identity and address proof are the same for both self-employed and salaried applicants |
| Proof of employment | Identity card issued by the employer | Document of business ownership such as Partnership Agreement and Registration Certificate |
| Proof of income |
|
|
| Property documents |
| Same as for salaried applicants |
***Additional documents may be required at the time of loan processing.
Steps to Apply for a Loan Against Property in Kolkata Online
Applying for a Loan Against Property with us is hassle-free. Here is how you can apply:
Step 1: Visit the Bajaj Housing Finance website.
Step 2: Navigate to the Loan Against Property section of the website.
Step 3: Click on ‘Apply Now’.
Step 4: Fill in the following details:
- Full name
- Contact details
- Employment Type (salaried or self-employed)
- Monthly income
- PIN Code
- Required loan amount
Step 5: Generate OTP and enter it in the respective field.
Step 6: Enter the rest of the financial and property-related details.
Step 7: Submit the application form.
After you have submitted the application form, a customer representative from Bajaj Housing Finance will contact you for additional documentation and processing.
*Terms and conditions apply.
With Bajaj Housing Finance, you can leverage your property for business or housing needs and benefit from quick disbursal within 72 hours* upon document verification.
You need to submit the following documents to apply for a Loan Against Property in Kolkata:
For Self-Employed Applicants
- KYC documents (Aadhaar Card or Voter ID)
- Mandatory documents (PAN Card or Form 60)
- Profit & Loss statement
- Latest Income Tax Return (ITR)
- Property-related documents
For Salaried Applicants
- PAN Card or Form 60 (mandatory)
- Aadhaar Card or Voter ID
- Salary slips for the last 3 months
- Property-related documents
Note that this list is indicative.
