Learn About Loan Against Property

LOAN AGAINST PROPERTY - LEARN

What is a Loan Against Property?
A loan against property is a secured loan that is authorized keeping an asset as collateral with the lender. This asset can either be an owned land, a house, or any other commercial premises. The asset remains as collateral with the lender until the entire loan amount is reimbursed.

This type of secured loan can be an alternative for unsecured personal loans as it also has no end-use confinement. However, the loan amount can be much higher and the tenure is also likewise longer in this case. Loan against property interest rate are considerably lower as compared to any unbound loan.

You can utilize these advances for business purposes like purchasing machinery, buying raw materials, purchasing equipment, funding of working capital, debt consolidation, etc. This type of loan can also oblige personal requirements like wedding, higher education, home renovation, buying a new home, managing medical expenses, etc. 
Bajaj Housing Finance Limited offers the fastest Loan Against Property in India.

Following are some of the Loan Against Property features offered by Bajaj Housing Finance Limited:

1. High Loan Amount
You can avail up to Rs. 1 crore if you are salaried and up to Rs. 3.5 crore if you are self-employed.

2. Quick Disbursal
You can get your loan prepared in just 72 hours and loan amount disbursal in 4 days.

3. Convenient Repayment Tenor
Bajaj Housing Finance Limited provides loan tenors ranging from 2 to 20 years for salaried individuals and 2 to 18 years for independently-employed.

4. Minimal Documents
Loan Against Property documentation requirements are facile. You can also get your documents gathered from your doorsteps when you apply for the loan.

5. Easy to Fulfil Eligibility Criteria
Loan against property eligibility criteria are easy to satisfy.

6. Easy Balance Transfer Facility
Transfer your outstanding loan balance to Bajaj Housing Finance Limited by providing only a couple of records. You can also avail a top-up at the mean time.

You can apply for a Bajaj Housing Finance loan against property easily. Just fill in your personal details, provide your documents, and have your loan approved in a matter of moments.

1. What is a Mortgage Loan?
A mortgage loan is a type of secured loan where you can avail funds by providing your asset as collateral to the lender. This is a prominent kind of financing as it helps the borrower avail a high loan amount and prolonged repayment tenor.

A mortgage is usually a loan sanctioned against an immovable asset like a house or a commercial property. The lender keeps the asset as collateral until the borrower reimburses the complete loan sum.

Mortgage loans are of 3 types: -

  • Home loans
  • Commercial property loans
  • Loans against properties

A home loan or a commercial property loan can be availed only to purchase a home or a commercial space respectively. On the other hand, a loan against property has no end-use restrictions. It tends to be utilized to fund overseas education, a wedding, a home remodel, etc.
You can avail the fastest Loan Against Property from Bajaj Housing Finance Limited and benefit from disbursal of loan amount within 4 days.

2.What is the procedure for Loan Against Property?
A loan against property is a secured loan with no end-use restrictions. You need to keep your property like a house or a commercial premise as collateral to avail such loans. These loans have a higher loan-to-value that is within the norms of the regulator and likewise longer repayment tenors. You can utilise the loan amount for various purposes like business expansion, education, debt consolidation, medical expenses, etc. After full repayment of the loan, you can recapture the property records that you have sworn as collateral.

Availing a Loan Against Property from Bajaj Housing Finance Limited is facile and usually involves the accompanying  steps:

1. Apply for loan against property by filling in an online form.
2. Our call centre representative will connect with you in 24 hours and affirm your details.
3. Our representative will also furnish you with the underlying loan offer that you are eligible for in just 48 hours.
4. Post this, you can submit your documents to our representative from the convenience of your home or office.
5. Your documents and property is checked after and your loan is prepared in 72 hours.

Loan Against Property from Bajaj Housing Finance Limited also has other benefits like:

1. Longer Loan Tenor
Tenor ranges from 2 to 20 years for salaried individuals and 2 to 18 years for independently-employed.

2. High Amount Availability
You can avail up to Rs. 1 crore if you are salaried and up to Rs. 3.5 crore if you are independently-employed.

3. Minimal Documentation
The loan against property documents required are not many and are handled in just 72 hours. You also have the benefit of doorstep service for gathering your documents.

4. Simple Eligibility Criteria
The loan against property eligibility criteria for Bajaj Housing Finance Limited is simple. If you are a salaried individual, you have to be between 33 and 58 years of age. If you are self-employed, you have to be between 25 and 70 years of age.

5. Flexi Dropline Feature
The Bajaj Housing Finance Limited Flexi Loan facility enables borrowers to pay interest only for the funds utilised. The interest is charged only on the withdrawn amount and not on the complete authorized limit.

You can likewise withdraw the required funds from a pre-sanctioned limit and pay only the interest part as EMIs.

So, avail the quickest Loan Against Property from Bajaj Housing Finance Limited today and discover the loan amount disbursed to your account within 4 days.