What is a loan for land purchase?
Land Purchase Loan or Plot Purchase Loan is a unique financing option from Bajaj Finserv designed to assist you in purchasing a plot of land for residential construction. While owning a ready-made home does have its perks, customising your home to your needs can be infinitely more satisfying.
These land loans are tailor-made to help you buy the plot of your choice effortlessly. It is different from a home loan because home loans are offered to buy a ready-to-move-in property. But, a loan for land purchase covers every aspect of the purpose effectively. This loan also includes tax benefits. You can claim a deduction on the principal amount of up to Rs. 50,000 and up to Rs. 2 lakh on interest amount for a given financial year under the Income Tax Act. This loan to buy land can be your perfect option in two cases, which are illustrated below.
- If you plan to buy a resale plot
- If you plan to purchase a piece of land through direct allotment
The provision also extends the benefit of a top-up loan, thus allowing you to access additional funds, as needed. To borrow effectively, be sure to use the EMI calculator to know your monthly outflows beforehand and apply for the required amount accordingly.
Benefits of the Bajaj Finserv Loan to purchase land
With our loan for land purchase, you can avail a sizable sanction to address you funding needs.
Comfortable repayment options
Repay the land purchase loan comfortably over a tenor that ranges up to 30 years.
Enjoy quick and easy loan approval with a fast turnaround time, provided you meet the requirements.
Once approved, get access to the entire sanction in an account of your choosing without any delays.
Balance transfer perks
Refinance an existing land purchase loan with Bajaj Finserv for better terms and avail a top-up loan of up to Rs. 1 crore for all your expenses.
Online loan management
Access the Bajaj Finserv App to track all important loan details and manage your loan payments on the go.
Eligibility criteria for loan for land purchase
Qualifying for our loan for land purchase is quite easy thanks to the simple criteria and minimal requirement for documentation. To further simplify the process and know exactly how much you can avail, use the eligibility calculator.
Fees and charges on the loan for land purchase
The land purchase loan interest rate, fees and charges offered by Bajaj Finserv are among the most competitive in the market. Compare with other lenders and make the choice that makes best sense for you.
Steps to apply for a loan for land purchase
By following these simple steps, you’ll be just a step away from getting your loan for land purchase sanctioned.
- 1 Click on ‘Apply Now’ on the loan webpage
- 2 Enter basic personal details and verify your profile with an OTP
- 3 Use the eligibility calculator to arrive at the loan amount and repayment tenor
- 4 Fill out the following information and submit your application
- Personal data
- Employment information
- Financial details
- Property-related information
Upon successfully filling the online form, our representative will contact you with 24 hours* with further loan processing details.
*Terms and conditions apply