Loan Against Property of up to Rs. 2.5 Crore: Overview
Borrowers can pledge their commercial or residential property as collateral with Bajaj Housing Finance. A Loan Against Property can provide you with a substantial sanction of up to Rs.5 Crore* or higher based on your eligibility, long-term tenors of up to 17 years, and minimal documentation for a hassle-free experience.
Features and Benefits of a Loan Against Property
Nominal Interest Rate
Salaried and self-employed individuals can benefit from an affordable rate of interest starting as low as with Bajaj Housing Finance.
Sizeable Sanction
Based on your profile and Loan Against Property eligibility, you could receive a sizable sanction of up to Rs.5 Crore* or higher.
Long-Term Tenor
With Bajaj Housing Finance, you can enjoy a convenient repayment structure that allows you to repay your loan over an 17-year period.
Quick Disbursement
A property loan is an excellent way to address urgent financial needs, and you can expect a quick disbursement from Bajaj Housing Finance within 72 hours* of submitting your documentation.
Documents Required for Loan Against Property
When applying for a Loan Against Property with Bajaj Housing Finance, you must submit a minimal amount of documentation. Having the necessary documents on hand will not only help you get approved quickly, but will also provide you with a hassle-free experience.
Salaried Employee
- Identification Proof: Aadhaar Card, Passport, Driving License, and Voter ID card.
- Address Proof: Utility bills (Water, Gas, or Electricity), Ration Card, and Property Tax Receipt.
- Employment Proof: Employment Certificate, and Company ID Card.
- Income Proof: Latest salary slips, Banking statements for the past 3 months, Income Tax Returns, and mandatory documents such as PAN card or Form 60.
- Property Documents: Photocopy of document property that you are looking to mortgage.
Self-Employed
- Identification proof, address proof, and property documents remains the same the same for both salaried and self-employed applicants.
- Business Proof: Partnership Agreement, Registration Certification, Memorandum of Association, and Article of Association.
- Income Proof: Company banking statements for the past 6 months, Income Tax Returns, Balance Sheet, and Profit and Loss Statements, and mandatory documents such as PAN card or Form 60.
Note: This list is indicative.
Eligibility Criteria for a Loan Against Property
Borrowers must meet the eligibility criteria laid out by Bajaj Housing Finance when applying for a loan against property, and meeting these criteria will increase your chances of getting approved quickly. The eligibility criteria differ on the basis of your employment type.
Salaried Applicants
- The applicant must be an Indian citizen living in a city where Bajaj Housing Finance operates.
- The applicant must be between the ages of 23 to 60 years**.
- The applicant must have at least 3 years of work experience either at an MNC, or a Public or Private sector company.
Self-Employed Applicants
- The applicant must be an Indian citizen living in a city where Bajaj Housing Finance operates.
- The applicant must be between the ages of 23 to 70 years**.
- The applicant's business must be able to generate a consistent source of income and have been in operation for at least 3 years.
**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.
Apply for Loan Against Property
You can apply for a Loan Against Property directly from the website or by visiting your local Bajaj Housing Finance branch. The online application process has been simplified so that eager applicants can apply without difficulty. Follow these steps to understand how you can apply online today:
- Visit the loan against property application form.
- Enter the required details such as your name, contact details, required loan amount, monthly income, type of loan, and employment type.
- Submit the application form.
After you submit your application, a customer representative from Bajaj Housing Finance will contact you within 24 hours to walk you through the next steps. The next steps will be to submit your documentation and go through verification.
*Terms and conditions apply.
