Details of a Loan Against Property in Visakhapatnam
Visakhapatnam is home to the oldest shipyard and Eastern Naval Command headquarters. This has led to a rise in the number of people who have invested in the real estate sector of the city. The good news is property owners in Vishakhapatnam can now leverage the value of their property and get a loan against it.
A property loan is a secured loan offered against a commercial or residential property used as collateral. If you are looking for urgent funding, a Loan Against Property can be a handy option for you.
Features and Benefits of a Loan Against Property in Visakhapatnam
Attractive Interest Rates
Bajaj Housing Finance extends Loans Against Property to applicants meeting the loan eligibility criteria at attractive interest rates starting from 9.40%* p.a.
Easy Eligibility
The Loan Against Property eligibility criteria are simple and easy to meet. This ensures easy approval for all.
Fund Use Flexibility
Funds availed of through a Loan Against Property can be used for business purposes, housing expenses, or debt consolidation.
Faster Approval and Swift Loan Disbursal
If you satisfy all eligibility parameters, you can expect to see money in your account within 72 hours* of document submission and approval.
Calculate Your Loan Against Property EMI
Repayment Schedule
Interest Rates for Loan Against Property in Visakhapatnam
Bajaj Housing Finance offers competitive Interest rates on Loans Against Property, starting from 9.40%* p.a., basis eligibility. To know more about our fees and charges, you can visit our website.
Eligibility Criteria for a Loan Against Property in Visakhapatnam
For a Loan Against Property from Bajaj Housing Finance, one only needs to meet our basic eligibility criteria to enjoy the benefits.
| Eligibility Requirements | For Salaried Applicants | For Self-Employed Applicants |
|---|---|---|
| Employment status | Must be employed with a public or a private sector company, or an MNC (minimum of 3 years of experience) | Must be able to showcase steady income from an enterprise with a vintage of 5 years or more |
| City of residence and property ownership | Delhi, Mumbai, Bengaluru, Ahmedabad, and Pune, among others. | Delhi, Mumbai, Bengaluru, Ahmedabad, and Pune, among others. |
Documents Required for a Loan Against Property in Visakhapatnam
| 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 |
| Mandatory documents | PAN Card or Form 60 | PAN Card or Form 60 |
| 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 |
The list is only indicative, and you may be asked to provide additional documents required for a Loan Against Property as and when needed.
Steps to Apply for a Loan Against Property in Visakhapatnam Online
To apply for a Loan Against Property in Visakhapatnam with Bajaj Housing Finance follow these steps:
- Visit our Loan Against Property application form.
- Fill in your personal details, such as name, date of birth, address, and phone number.
- Select the loan type you wish to avail of.
- Select your employment type and the loan amount you need.
- Fill in your financial details based on your employment type.
- Enter the PIN code.
- Generate OTP.
- Submit the application form.
After you submit the application form, our representative will connect with you and walk you through the next steps.
*Terms and conditions apply
You can avail of a Loan against Property in Visakhapatnam with Bajaj Housing Finance either online or by visiting our nearest branch and applying for a loan in person.
Once you apply for a Loan Against Property in Visakhapatnam, the funds will be disbursed into your account within 72 hours* after document verification.
You need to submit the minimal documents given below to apply for a Loan against Property in Visakhapatnam with Bajaj Housing Finance:
For Salaried Applicants
- Aadhaar Card, Voter ID, PAN Card, or Form 60 (mandatory)
- Address proof
- Salary slips for the past 3 months
- Income Tax Return (ITR) documents
- Bank statements for the last 3 months
- Documents related to the property being mortgaged
For Self-Employed Applicants
- Aadhaar Card, Voter ID, PAN Card, or Form 60 (mandatory)
- Address proof
- Bank statements for the past 6 months
- Business vintage proof
- Documents related to the property being mortgaged
This list is indicative.
The eligibility criteria to apply for a Loan Against Property in Visakhapatnam are:
For Salaried Applicants
- Must be an Indian resident aged between 23 and 60 years**
- Should be employed with an MNC, public sector, or private company with at least 3 years of work experience
- The mortgaged property should be located in one of the cities where we operate
For Self-Employed Applicants
- Must be an Indian resident aged between 23 and 70 years**
- Should have a steady income from an established business with a minimum vintage of 3 years
- The mortgaged property should be located in one of the cities where we operate
**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
