Features and Benefits of Rs. 60 Lakh Loan Against Property
A loan against property from Bajaj Finserv gives wings to your dreams – be it financing your child’s education, managing wedding expenses, starting, and establishing your business and addressing other big-ticket spending. Make the most of the Bajaj Finserv Loan Against Property by customising it to fit your financial needs. Here are the features of this instrument.
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Money in account in 72* hours
No more long waits for loan sanctions with Bajaj Finserv. Find your loan amount in your bank account in just 72* hours from approval.
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Attractive interest rate
Starting from 8% to 14% per annum, Bajaj Finserv offers applicants an affordable funding options that leaves their savings untouched.
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Higher loan amount
Bajaj Finserv provides loan amount of up to Rs. 10.50 crore* to eligible candidates, to boost your home buying journeys.
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Digital monitoring
Now keep a close eye on all your loan developments and EMI schedules through Experia – the Bajaj Finserv online platform.
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Low contact loans
Experience a truly remote loan application from anywhere in India by applying online and getting an easy approval.
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Convenient tenor
The Bajaj Finserv Loan Against Property tenor stretches up to 15 years allowing borrowers a buffer period to plan out their EMI payments, and service their debt with ease.
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No prepayment and foreclosure charge
If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part-prepayment charges. However, apart from above situation part pre-payment charges are applicable for term Loan up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment. Part pre-payment charges are not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi.
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Easy balance transfer with top-up loan
Transfer your existing loan to Bajaj Finserv as part of our loan against property balance transfer facility and avail a top-up loan without additional documentation.
Rs. 60 Lakh Loan Against Property
A Bajaj Finserv Loan Against Property offers financing up to Rs. 60 lakh. For a higher loan amount of Rs. 5 Crore, or higher, basis eligibility, be sure to pledge a property that has a greater value. The beauty of this loan is that it is easy to qualify for and you get the money in your bank within 72 hours*.
The mortgage loan does not specify how you can use funds, making it extremely versatile. You can also club this with the Flexi facility for added ease. Here you can borrow from your sanction as and when you need to, and pay interest only on what you borrow. You can part-prepay multiple times and also choose to pay with interest-only EMIs for the initial part of the tenor. While this makes loan repayment much more cost-effective, do use our loan against property EMI calculator to calculate EMIs in advance.
Loan Against Property Documents and eligibility criteria for salaried applicants
With only a few mortgage documents required, Bajaj Finserv makes loan application easy.
- Bank account statements of the previous 3 month
- PAN card/ Form 60 of all applicants
- ID proof
- Address proof
- Document of the property to be mortgaged
- IT returns
- Title documents
- Latest salary slips
Loan Against Property Documents and eligibility criteria for self employed applicants
- Primary bank account statements of the previous 6 months
- PAN card/ Form 60 of all applicants
- Address proof
- ID proof
- Income documents like ITR/ financial statements, etc.
- Documents of the property to be mortgaged
- Title documents
**Please note that this list of documents is indicative. You may be asked to submit additional documents during the loan application process.
Interest rate and fees for loan against property up to Rs. 60 lakh
We charge competitive loan against property interest rates so that you can borrow affordably.
Apply for a loan against property by filling an online form.
Loan Against Property EMI Based On Amount |
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Frequently asked questions
The equated monthly instalment (EMI) for a Rs. 60 lakh loan against property depends on factors such as the loan tenure, interest rate, and type of loan. For a Rs. 60 lakh loan with an interest rate of 8% and a tenure of 15 years, the equated monthly instalment (EMI) would be approximately Rs. 58,758.
The maximum loan available under a Bajaj Finserv Loan Against Property is up to Rs. 10.50 crore*.
The amount of loan you can get on a Rs. 50 lakh property depends on various factors such as the loan-to-value ratio (LTV), your income, creditworthiness, and other eligibility criteria.
To calculate the monthly interest on a Rs. 60 lakh loan against property, you need to determine the applicable interest rate and then divide it by 12 to get the monthly interest rate.
For example, at an interest rate of 8% per annum: Monthly interest rate = 8% / 12 = 0.67%
Now, calculate the monthly interest: Monthly interest = Loan amount * Monthly interest rate = Rs. 60,00,000 * 0.67% = Rs. 40,200
So, the monthly interest on a Rs. 60 lakh loan against property at an 8% interest rate would be approximately Rs. 40,200.
