Loan Against Property of up to Rs.1 Crore
A Loan Against Property (LAP) is a viable financial option through which you can secure substantial funds in a short period of time. It can assist you in dealing with major expenses related to business or housing. The amount can also be used for debt consolidation.
You can obtain a Loan Against Property by pledging your existing commercial or residential property as a collateral with Bajaj Housing Finance and receiving a sizeable sanction at a feasible interest rate and long-term tenor that lasts up to 17 years, which can help you repay the loan in a comfortable manner.
Features or Benefits of a Loan Against Property
Competitive Interest Rate
Bajaj Housing Finance offers loans with modest interest rates to salaried, self-employed, and professional applicants. A salaried applicant's interest rate begins at 9.40%* p.a., while a self-employed applicant's interest rate begins at 9.40%* p.a.
Sizeable Sanction
Borrowers may be eligible for a sizeable sanction, depending on their eligibility. Other factors include the borrower's profile and the property being mortgaged.
Quick Disbursement
Bajaj Housing Finance can disburse funds within 72 hours* of receiving your documentation, making it ideal for urgent financial needs such as business or housing expenses.
Long Term Tenor
Enjoy convenient repayment with the option of a tenor of up to 17 years.
End-Use Flexibility
The funds that you receive can be used for business expansion, home renovation, or debt consolidation.
Eligibility Criteria for Rs.1 Crore Loan Against Property:
The eligibility criteria for a property loan are very simple, and borrowers must meet the eligibility criteria to obtain a Loan Against Property. By meeting all the eligibility criteria, borrowers can increase their chances of getting approved quickly and easily. The eligibility criteria differ based on employment type: Salaried and Self-Employed
1. Salaried Applicants
- The applicant should be between the ages of 23 to 60 years**.
- The applicants should have worked for at least 3 years for a public or private firm or an MNC.
- The applicants should be residing Indian citizens with property in a city where we operate.
2. Self-Employed Applicants
- The applicant should be between the ages of 23 to 70 years**.
- The applicants should have at least 3 years of experience in their current business.
- The applicants should be residing Indian citizens with property in a city where we operate.
**Note that the maximum age limit is the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
Interest Rates for Loan Against Property of up to Rs.1 Crore
For salaried and professional applicants, the Bajaj Housing Finance Loan Against Property interest rate starts at just 9.40%* per annum. You can benefit from a sizeable loan sanction amount, competitive interest rate, long loan tenor, and quick disbursement within 72 hours* from document submission.
For a complete list of interest rates, please click here.
What are the Steps to Apply for Rs.1 Crore Loan Against Property?
The process of applying for a property loan with Bajaj Housing Finance is simple. Here is how you can apply for a Loan Against Property:
Step 1: Navigate to the Loan Against Property section of the website or simply click the Apply Now button on the top right corner of this page.
Step 2:
Step 3: Upon being redirected to the LAP Application Form you will be required to fill in the necessary details such as:
- Full Name
- Contact Number
- Employment Type (Salaried, Self-Employed, or Self-Employed Professional)
- Type of Loan (Fresh or Balance Transfer)
- Net Monthly Salary
- PIN Code
- Required Loan Amount
Step 4: Click on Generate OTP.
Step 5: Enter the OTP sent to your registered mobile number and submit the application form.
Within 24 hours*, a customer representative from Bajaj Housing Finance will contact you to walk you through the next steps, such as verification and documentation.
*Terms and conditions apply.
