Loan Against Property in Nagpur: Overview
Nagpur, often known as the “Orange City”, is one of the major trade centres for Oranges in India. It is also called the Tiger Capital of India as many Tiger reserves are located here. In a report, Nagpur was identified as the best city in India, topping in habitability, greenery, public transport and health care indices in 2013. These factors along with others have made Nagpur a famous real estate investment destination. The good news is, if you have a property in Nagpur, you can use it to your best advantage by taking a loan against it. A Loan Against Property is a secured loan where the borrower pledges his residential or commercial property as collateral for funds. Interest rates on such loans are low and these loans come with flexible end-use, such as for housing or business expansion.
Loan Against Property in Nagpur: Features and Benefits
Less Paperwork Required
While applying for a Loan Against Property from Bajaj Housing Finance, you are required to submit basic paperwork. This saves time and ensures quick approval and disbursal of loan.
Big Loan Amount
Bajaj Housing Finance allows you to avail of a loan amount of Rs.5 Crore* or higher as loan from Bajaj Housing Finance, basis eligibility. The property loan calculator can help you calculate the best loan amount for you.
Simple Eligibility
The eligibility criteria for a Bajaj Housing Finance Loan Against Property from Bajaj Housing Finance is simple and ensures quick approval. Use the Loan Against Property eligibility calculator to know the amount you qualify for.
End-use Flexibility
Funds availed of from Bajaj Housing Finance under its LAP offering come with end-use flexibility. The sanctioned funds can be used to expand your business, renovate your home or for debt consolidation.
Minimum Interest Rates
Bajaj Housing Finance offers Loan Against Property at interest rates starting from as low as 9.40%* p.a. for salaried and professional applicants. This makes EMIs affordable and ensures that your interest outgo does not impact your finances.
Quick Loan Processing
Bajaj Housing Finance has a short loan processing time. Expect to see money in your account within 72 hours* of document submission and approval.
Longer Repayment Period
A property loan from Bajaj Housing Finance can be repaid over a period of 17 years. This gives the borrower a chance to repay the loan in easy instalments.
Flexi-loan Advantage
Bajaj Housing Finance allows borrowers to avail of loans multiple times from a pre-sanctioned amount and pay interest on the borrowed amount only.
Loan Against Property in Nagpur: Interest Rate, Fees, and Charges
Bajaj Housing Finance offers competitive interest rates on Loans Against Property at interest rates starting from 9.40%* p.a. for salaried and professional applicants.
Click here to learn more about our interest rates.
Loan Against Property in Nagpur: Eligibility Criteria
Loan Against Property from Bajaj Housing Finance requires the following eligibility:
Self-Employed Applicants:
- Must be an Indian resident aged between 23 and 70 years**
- Minimum 3 years of business continuity to be shown
- CIBIL score of 750 plus
- The applicant must be the owner of the mortgaged property
Salaried Applicants
- Must be an Indian resident aged between 23 and 60 years** at the time of loan maturity
- Work experience of minimum 3 years in a reputed company
- 750 plus CIBIL Score is a must
- Applicant 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 Nagpur: Documents Required
Self-Employed Applicants
- Aadhar Card, PAN card or Form 60 (mandatory), or Voter’s ID Card of the applicant
- P&L Statement
- ITR Certificate
- Original property documents
Salaried Applicants
- Aadhar Card, PAN Card and Form 60 (mandatory), or Voter’s ID Card
- Last 3 months’ salary slip
- Original property documents
Note: Additional documents may be requested at the time of processing of the loan. Our team will inform you earlier about it if required.
Loan Against Property in Nagpur: How to Apply Online
To apply for a Loan Against Property in Nagpur with Bajaj Housing Finance follow these steps:
- Go to the Bajaj Housing Finance website and click on the Loan Against Property application form
- Fill in personal details, such as name, date of birth, address, phone number and other loan specific details
- Click on the submit form button once you have received the OTP. Our team member will contact you within the next 24 hours* to complete the process.
Our team member will contact you within the next 24 hours* to complete the process.
*Terms and conditions apply
