We deploy technology and apply innovation to create unique and compelling propositions that help you do what you always wanted to do. Hereunder are a host of unique features and benefits that you enjoy with Loan Against Property from Bajaj Finserv. Most of these features are industry firsts and come only with our portfolio of offerings. Read on to know more:
Our part prepayment facility allows you to part prepay any amount on your loan, provided that each prepayment transaction should be equal to sum of 3 EMIs or more. There is no limit on the maximum amount you can pay. This is subject to your clearing your first EMI.
Now you can choose to foreclose your loan anytime during your loan tenure without paying any foreclosure charges.
As an existing LAP customer, you can avail of the unique FlexiSaver facility. Bajaj Finserv is the first non-bank in the country to offer a unique and innovative capability, offering you a combination of Term Loan and Credit Line facility with unique feature to save interest and manage cash flow efficiently.
View all your loan account information like repayment track, interest certificate, payment schedule and transact on your account on our Customer Portal - Experia. Log in with your Username/Email/Mobile Number and Password from wherever you are and access your loan account details.
Bajaj Allianz’ SFSP Policy offers a comprehensive insurance cover for your home (i.e. residential building) against various contingencies to ensure that your prized possession is always safe!
We have a range of products to cover your varied needs. You can avail of our Loan Against Property for any of the following:
1. Loan Against Commercial Property
2. Loan Against Residential Property
3. Loan for Purchase of Commercial Property
4. Loan Against Plot
5. Lease Rental Discounting
6. FlexiSaver Loan
You are an Indian Resident
You are at least 25 years of age when the loan is sanctioned
You are a salaried professional or self-employed with a regular source of income
The minimum loan amount is Rs. 60 Lacs in case of Mumbai and Delhi, Rs. 30 Lacs in other cities
*Kindly note that the list of documents mentioned is indicative. During loan processing additional documents may be asked for .The same will be appropriately communicated to you as and when required.
|Processing Fees||Upto 2% of the loan amount|
|Loan Statement charges||Nil|
|Interest and Principle Statement charges||Nil|
|PDC Swap charges||Nil|
|EMI Bounce charges||Rs.1000 for every bounce|
|Penal Interest||2% p. m.|
|Foreclosure charges *||NIL|
|Part Prepayment charges *||Nil|
|*Refer to Agreements and T&C.|
Searching for the perfect property is a task that requires guidance, at each step. We want to ensure that you get the best possible assistance right from search to purchase.
Click here to share your details and our Relationship Manager will get in touch with you.
Selecting a property through us brings you a bundle of benefits:
To apply for a Loan Against Property call us on 1800 2094151..
A.Bajaj Finance offers up to Rs. 21 Crores as Loan against Property and 50 Crores as Lease Rental Discounting
A. We consider the following factors to determine eligibility and loan amount
A. All the co-owners of the considered property need to come in as co-applicants to the loan.
A. BFRR is Bajaj Floating Reference Rate which is used as benchmark rates for loan against property customers. Any change in BFRR results in equivalent change in LAP customer’s ROI. BFRR is changed based on market conditions and cost of funds of the company.
A. As per our re-pricing policy, interest rates are reviewed every two months and a decision is taken whether to change the interest rates or keep it unchanged.
A.As per our re-pricing policy, interest rates will be changed only for those cases which are at least 3 months old. In your case, change in FRR will not have an immediate impact on interest rate of your loan. However once your loan is 3 months old, any changes in FRR in last 3 months will change your effective rate basis the margin on your loan.
A.Current BFRR (Bajaj Floating Reference Rate) is 20.15% effective since 5th Mar 2014.
A. The increase/ decrease in the Interest rate will by default increase/decrease the tenure of the loan with no change in the existing EMI.
A. You can increase / reduce your EMI with no change in original tenure post repricing. You can make a part pre-payment and keep both the EMI and tenure same or ask for change of both the EMI and the tenure. These options are available to you without any additional fee. Please call our helpline number 1800-209-4151 for more details.
A. These are market-determined rates and it is not possible for us to predict interest rate movements ahead of time.
A. Yes, you can repay the loan ahead of schedule, without the payment of any foreclosure charges subject to clearance of the first EMI
A. You are given a margin against Internal FRR in your sanction terms & conditions. In case you take the disbursement within the validity period mentioned in your sanction letter, your rate of interest will be calculated on the current FRR. For example, if Internal FRR at the time of loan sanction is 20.00% and margin offered to you was (-2.00%), thereby effective rate offered was 18%. If Internal FRR comes down to 18.50%, your effective rate of interest would be (18.50%- 2.00%) = 16.50%
A. Yes, you can request for change in your loan tenure and EMI in following circumstances:
Please call us at our central helpline number or write to us at email@example.com for more details.
A. The Spread between BFRR and Customer Rate of Interest is fixed and will not change except in situation where customer rate is higher than Max Rate Cap as per Proactive Repricing Policy*. Change in spread will always be done to give advantage of BFL Max Rate Cap as per Proactive Repricing Policy to customer and maintain customer rate at Max Cap Rate. In case of decrease in BFRR no change in spread / margin will be done.
*Refer Proactive Repricing Policy in Section Agreement and T&C of Loan against Property
Visit a branch, call us on 18001033535 or SMS 'PL' to 9773633633
Write to us at firstname.lastname@example.org to clear all your queries
SMS << keyword below >> to +91 92275 64444
GETEMAIL for your current email address
UPDEMAIL < New email > to update your email address
GETADD for your current registered email address
CUSTID to know your customer ID
LAN to know your Loan Account Number
EMI LAN to know your loan/ EMI details
EXPERIA to know your Experia user ID and password
PIN to know your 4 digit EMI card PIN
FEEDBACK to give your valuable feedback
SAT Y Give a positive feedback
SAT N to give a negative feedback
(Your mobile number should be registered with us for this facility). Standard SMS Charges applicable
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The floating interest rate for Loan Against Property is linked to the internal Floating Reference Rate. It is the benchmark reference rate for Bajaj Finance Limited and is determined based on the prevalent market conditions and the cost of funds, as the cost of funds reduces/increases or as market conditions change internal FRR may be increased or reduced. The current FRR is 20.15% effective 5th March 2014. Any revision in this rate would impact the interest rate on the floating interest rate loans. The increase/ decrease in the interest rate will by default increase/decrease the loan tenor up to the permissible limit as per BFL norms. In case of an increase in the interest rate, if you want to retain your existing EMI/ Tenor, you will have an option of making a part pre payment and keeping your EMI/ Tenor constant. No additional charges would be levied for the same. The communication on the changes (Increase/ decrease) in the rate of interest would be sent by mail.
During the entire tenor of your loan, under no scenario will your Rate of interest exceed by 1.00% over the last quarter average Bajaj Finance acquisition rate. The pricing increase happens only in the scenario of an increase in the Cost of Funds and this policy is being put in place as a proactive measure to ensure that there is no inordinate increase in your loan pricing against new acquisitions and there is always parity for your loan. If a customer rate of interest exceeds the current BFL last quarter average acquisition rate by 1.00%, then such cases are reviewed every year in April and October and proactive correction is done in the rate by bringing it down to BFL last quarter average acquisition rate + 1.00%. For example if a customer Loan Account rate of interest is 14.50% in April/October v/s our last quarter average acquisition rate of 13.00% then in April / October we will review the same and revise the customer loan account rate of interest downwards equal to BFL last quarter average acquisition rate + 1.00%. i.e. 14.00% without any reduction in BFRR. This is done by increasing the spread / margin between your rate and BFRR.
The pricing increase happens only in the scenario of an increase in BFRR due to increase in our cost of funds and this policy is being put in place as a proactive measure to ensure that there is no inordinate increase in your loan pricing against new acquisitions and there is always reasonable parity between old and new customer rates
Exclusions:-Customer who will not be part of this policy
|Loan Against Property Application Form - Company|
|Loan Against Property Application Form - Individual|
|Loan Against Property Application Form - Salaried|
|Flexisaver Supplemental Loan Agreement|
|Loan Against Property Agreement|
|Mortgage Plus Loan Agreement|
|Sanction Letter Terms and Conditions|