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Loan Against Property Upto 35 Lakh_WC

Loan Against Property Upto 35 Lakh

A Loan Against Property allows borrowers to avail of high loan amounts – from several lakhs to a few crores - by pledging their property. Also known as property loans or mortgage loans, a Loan Against Property is offered at a lower rate of interest as compared to other kinds of credit. Applicants can easily obtain a Loan Against Property up to Rs.35 Lakh with swift loan processing and disbursal to fund any personal or professional requirement.

Loan Against Property Interest Rates_WC

Loan Against Property Interest Rates

The rate of interest charged on a Loan Against Property determines your cost of credit. The interest rates usually depend on several factors such as:

  • Loan tenor

    A longer repayment tenor may fetch you lower interest rates, while a shorter tenor could mean a higher interest rate.
  • Credit score

    Applicants should ideally have a credit score of 750 and above if they wish to secure loans at lower rates of interest with favourable terms and conditions. In case you possess a poor credit score, you may be offered loans at higher rates with stringent terms.
  • Property type

    The market valuation and type of the mortgaged property are crucial indicators of loan interest rates. A higher valuation will fetch better interest rates.
  • Applicant profile

    An applicant’s age, income and occupation prove decisive for property loan interest rates. Younger applicants with regular salaries in a reputed company can get lower rates than older applicants nearing retirement.

Loan Against Property up to Rs.35 Lakh: Features and Benefits_WC

Loan Against Property up to Rs.35 Lakh: Features and Benefits

One can avail of several advantages when they take up a Loan Against Property up to Rs.35 Lakh which are:

No Restriction on End-Use

The loan amount can be utilised to fund a range of expenditures such as higher education, medical emergency, family wedding, debt consolidation or for business purposes.

Easy Approval

The documentation and approval process are straightforward since the mortgaged property acts as security, thereby reducing the risk of lending.

Secured Loan

A Loan Against Property is a secured loan. Hence, it is offered at lower interest rates with longer tenors of up to 18 years to repay the large principal sum. Applicants should select a suitable tenor to make pocket-friendly EMI payments.

Pre-Payment and Foreclosure Options

If you are an individual borrower and wish to part pre-pay your property loan or foreclose it before the end of the agreed tenor, you will not be levied any additional charges in case of a floating interest rate loan.

Eligibility Criteria for a Loan Against Property up to Rs.35 Lakh_WC

Eligibility Criteria for a Loan Against Property up to Rs.35 Lakh

Banks and lending institutions assess the eligibility of loan applicants before approving their applications. Individuals need to fulfil certain requirements to qualify for a loan. Although these criteria may vary with lenders, at Bajaj Housing Finance, we determine eligibility as given below:

Nationality of Applicant

All applicants must be residing citizens of India.

Applicant’s Age

Depending on the type of employment, applicants should be between 28 years and 60** years of age if they are salaried, while self-employed individuals must be aged between 25 years and 70** years.

**maximum age during the time of loan maturity

Employment Type

Salaried applicants are required to have at least three years of work experience in the public or private sector or a multinational firm. In the case of self-employed persons, they must show consistent earnings in their present company with a business continuity exceeding five years.


The expected income of applicants may differ for each city. Usually, the income range is considered between Rs. 25,000 and Rs. 35,000 per month.

Property Location

The property that you seek to pledge as collateral should be located in any of the cities where the Bajaj Housing Finance Limited has its branch offices.

Documentation Requirements for Rs.35 Lakh Loan Against Property_WC

Documentation Requirements for Rs.35 Lakh Loan Against Property

When you apply for a property loan of Rs.35 Lakh, you will be asked for a set of documents that must be furnished along with the loan application form. The documentation for a Loan Against Property includes:

  • Proof of identity – PAN card, Aadhar card, voter’s ID, driving license, passport or any other government-approved photo identity proof
  • Address proof – PAN card, Aadhar card, passport or utility bills like electricity bills
  • Income tax returns
  • Property documents – Sale deed and other legal documents concerning the property to be mortgaged

For Salaried Applicants

  • ​Employer-issued identity card
  • Latest salary slips
  • Bank account statements for the last three months
  • Form 60

For Self-Employed Borrowers

  • Proof of business ownership - Partnership agreement, registration certificate
  • Primary bank account statements for the last six months
  • Audited financial documents - Balance sheets, profit and loss statements

Note: This list is only indicative, you may be requested for additional documents at the time of applying.

Steps to Apply for a Rs.35 Lakh Loan Against Property_WC

Steps to Apply for a Rs.35 Lakh Loan Against Property

One can apply for a property loan online by completing the following steps:

  1. Click on the ‘apply now’ button present on the Loan Against Property Page
  2. Fill in the requested fields
  3. Submit the completed form online

Once done, a representative will get in touch with you soon for further process.

A Loan Against Property up to Rs.35 Lakh enables you to make optimal use of your self-owned property, be it residential or commercial. Your asset can fetch a sizeable sum of credit at par with its market value. At the same time, you can retain the use of the property without foregoing ownership rights while you repay the loan.

*Terms and conditions apply.

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