How can a CIBIL defaulter get Loan Against Property

CIBIL score helps assess your creditworthiness and how likely you are to repay the loan availed. As for a credit defaulter, there’s low to no probability of you availing a loan through such credit impression.

However, it is possible to avail a loan with a low credit score. Avail low credit loan with Bajaj Finserv through the mortgage of a residential or commercial property.

Loan Against Property is a secured loan whose value largely depends on the property you mortgage. Bajaj Finserv offers this Mortgage Loan with attractive features and benefits even if you have a low credit score, provided other reliability factors are high.

Factors that Make Availing Low Credit Loan Possible

a) High Value Mortgage

Bajaj Finserv provides Property Loan with high Loan-to-Value ratio of up to 75% of the property’s current market value. An applicant with a low credit score can avail such a loan from Bajaj Finserv if the mortgaged property is of high value. It may fetch a substantial loan amount even after a low LTV offered due to the below par credit score.

Bajaj Finserv makes availing the loan convenient with easy-to-meet mortgage eligibility criteria and document and affordable Property Loan rates.

b) High And Stable Source Of Income

The applicant must also have a high and stable source of income, which may strengthen his/her ability to meet financial obligations like timely EMI payment.

c) Low Debt-to-income Ratio

Debt-to-income ratio is the ratio of all existing liabilities against an individual’s income. The lower it is, the higher that individual’s creditworthiness. Your chances of availing this loan increase if you maintain a debt-to-income ratio of 30% to 50%.

Also, you may avail this loan with a low credit if you opt for a higher rate of interest.

Mortgage Interest rates and charges offered by Bajaj Finserv are one of the lowest too. Fill up the online application form to avail such a loan with a low credit score.