Loan Against Property in Navi Mumbai: Overview
Navi Mumbai is located in the western region of Maharashtra and is best known for being one of India's financial hubs, ranking among the top ten commercial centers. The city flourished because its trade, finance, logistics, and entertainment industries.
With its extensive presence in Navi Mumbai, Bajaj Housing Finance can assist you in reaping the benefits of your real estate investments through a Loan Against Property.
Loan Against Property in Navi Mumbai: Features and Benefits
Fund Usage Flexibility
The funds received from a Bajaj Housing Finance Loan Against Property come with flexible end-use. The sanctioned loan amount can be used for expanding your business, renovating your house, or for debt consolidation.
Large Sanction Amount
If you meet the Loan Against Property eligibility criteria, you can receive a sizeable sanction amount of Rs.5 Crore* or higher, based on eligibility.
Quick Disbursal
Once your loan application has been processed and all the required documents has been submitted, you can expect the loan disbursement to be done within 72 hours* of loan approval.
Digital Monitoring
Every borrower is given access to an online account, which allows them to keep track of their loan development and related details. You can even use this account to keep track of your loan repayment schedule.
Balance Transfer
You can use the Balance Transfer facility offered by Bajaj Housing Finance to transfer your existing loan. Not only will this help you maximise your savings; you can also receive a Top-Up Loan on your current loan with no hassles.
Loan Against Property in Navi Mumbai: Eligibility Criteria
| Eligibility Parameter | Salaried Applicants | Self-Employed Applicants |
|---|---|---|
| Citizenship status | The applicant should be residing in India. | The applicant should be residing in India. |
| Age criteria | The applicant should be between 23 and 60 years** of age | The applicant should be between 23 and 70 years** of age |
| Work experience | The applicant should be working at an MNC or public or private company for a minimum of 3 years. | The applicant should have established a business for over 3 years. |
**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 Navi Mumbai: Documents Required
The following is a list of documents that you must submit when applying for a Loan Against Property:
- Mandatory documents such as PAN card or Form 60
- KYC documents such as Aadhaar Card, Passport, Voter ID
- Address proof such as property tax receipt, utility bills
- Banking statements for the past 6 months
- Latest salary slips (for salaried employees)
- Income Tax Returns for the past 3 years
- Documents for the property that you are looking to mortgage
Note: This list is indicative, and you may be asked to provide additional documents required for a Loan Against Property as and when needed.
Loan Against Property in Navi Mumbai: Interest Rates
Bajaj Housing Finance offers Loan Against Property with competitive interest rates starting at 9.40%* p.a. for self-employed applicants. To know more about the interest rates offered to other applicants, click here.
Loan Against Property in Navi Mumbai: How to 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 Online’
Step 4: Fill in the details required, including:
- Full Name
- Contact details
- PIN Code
- Employment type
- Loan type
- Income details
- Information of the property you are about to mortgage
Step 5: Submit the application from.
After you have submitted your application form, a customer service representative from Bajaj Housing Finance will contact you to discuss the next steps. After you have submitted your documents and your loan has been approved, you can expect the funds to be deposited into your account within 72 hours*.
*Terms and Conditions apply
