Loan Against Property Up to Rs.3 Crore: Overview
When it comes to arranging funds for personal or financial emergencies, you can opt for either an unsecured loan, such as a personal loan or a secured loan, such as a Loan Against Property. A Loan Against Property, also known as a property loan, is feasible and can be availed of at a low rate of interest. Furthermore, secured loans have a long repayment tenor of up to 17 years. With secured loans, you can avail a substantial loan amount.
Over the last few years, Loan Against Property has become a preferred option to secure funds. With Loan Against Property, you can pledge your property – residential or commercial - as collateral to avail of the loan amount. Thus, the collateral involved lowers the risk for the lender in lending the loan amount and they usually offer a tenor of 17 years* to repay the loan amount.
Whether you need a Rs.3 Crore Loan Against Property to take care of housing expenses or simply need the funds to start a new business or fuse it into your current one, a property loan can prove to be the answer to your financial requirements.
If you are planning to avail of a Rs.3 Crore Loan Against Property, choose Bajaj Housing Finance as your lending partner. Read further to learn more about our Loan Against Property features and benefits, the required documents, and the steps to apply online.
Rs.3 Crore Loan Against Property: Features and Benefits
Competitive Interest Rates
Bajaj Housing Finance offers Loans Against Property at competitive interest rates to salaried, self-employed, and professional borrowers. Our low interest rates ensure feasibility and make the repayment process easy and stress-free.
Substantial Loan Amount
With Bajaj Housing Finance, you can avail of funds of Rs.5 Crore* or more, based on your eligibility. Borrowers should keep in mind that the final loan amount will depend on their income profile as well as the property they are planning to pledge as security.
Disbursal in 3 Days
We understand that if you are pledging your property as security, you need funds urgently to take care of a financial emergency. With us, you can expect disbursal within 72 hours* of document submission and approval.
End-Use Flexibility
Bajaj Housing Finance Loan Against Property can be used for addressing housing-related expenses as well as investments for business purposes. It can also be used for debt consolidation.
Flexible Repayment Tenor
If you are taking a Rs.3 Crore loan, we understand that it won't be easy to pay off the loan over a short tenor. With us, borrowers get the liberty to choose to pay off their loan over a period extending up to 17 years.
Documents Required to Avail of a Rs.3 Crore Loan Against Property
If you are planning to make a loan application with Bajaj Housing Finance, keeping the following documents ready with you will help you experience a smooth and hassle-free application process.
- Proof of identity and address documents. These include PAN Card, Aadhaar Card, Voter ID, Driving License, Passport, Utility Bills, etc. Note that PAN Card or Form 60 are mandatory documents.
- Proof of employment and income documents in the case of salaried applicants. These include the latest salary slips, form 60, income tax returns, the last 3 months' bank account statements and the identity card issued by your employer.
- Proof of income and business ownership documents in the case of self-employed individuals. These include partnership agreements, registration certificates, income tax returns, bank statements of the last 6 months, balance sheets, and profit and loss statements.
- Documents of the property you wish to pledge as a collateral.
Note: Additional documents may be requested at the time of loan processing.
Loan Against Property of up to Rs.3 Crore: Eligibility Criteria
Bajaj Housing Finance requires borrowers to fulfil the following eligibility criteria to be eligible for a property loan of Rs.3 Crore:
- The salaried and self-employed applicant should be an Indian citizen residing in India.
- The self-employed applicant should be aged between 23 and 70 years**.
- The salaried applicant should be aged between 23 years to 60 years**.
- The applicant should preferably have a credit score of 750 or above.
- They should be the rightful owner of the property they wish to pledge as a collateral. Plus, the value of the property to be pledged as a security should be enough to support a Rs.3 Crore loan against the property.
Other criteria may add/differ based on your nature of service, viz. salaried or self-employed.
** 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.
Applying for a Bajaj Housing Finance Loan Against Property is easy. You can make an application online as well as offline by walking into one of our branches.
*Terms and Conditions apply.
