Loan Against Property: Features and Benefits
Mortgaging existing property is a great way to get a loan at low interest rates to meet your current financial needs without actually selling off the same.
Some other features and benefits attached with Loan against Property are:
Part prepayment facility
When you have extra cash in hand, you can choose to pre-pay a part of your loan amount in order to reduce your overall tenor/EMIs and help you close your loan quickly.
These points will help you understand the part-prepayment process better:
- You can pre-pay up to six times in a calendar year
- The minimum pre-payment amount cannot be less than the sum of 3 EMIs.
- There is no maximum limit for the pre-payment amount.
Check out our Loan against Property part prepayment simulator to know more.
Nil foreclosure charges
Now you can choose to foreclose your loan anytime during your loan tenure without paying any foreclosure charges.Use the loan foreclosure calculator to ease the process.
As an existing LAP customer, you can avail of the unique Flexi saver 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.Use our flexi dropline principle calculatortoday!
Bajaj Finserv also offers 3 EMI free months, a unique initiative to help the customer manage their finances better. Try out our Loan against Property 3 EMI holiday calculator.
Online account access
You can view all your loan account details and transact on your loan account on our Customer Portal. Log in with your User ID/ Mobile Number/Email and Password.
Customized insurance schemes
Group credit protection plus from bajaj allianz
- Level term Plan, which means you are covered for the complete amount despite reduction/ prepayment of loan amount.
- Coverage for the complete tenure of the loan up to a maximum of 18 years.
Bajaj Allianz SFSP policy
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!