Loan Against Property Eligibility and Documents

Loan Against Property Documents Required

For salaried
Latest Salary Slips
Bank account statements of the previous 3 month
PAN Card/Aadhaar Card
Address Proof
Copy of the documents of the property to be mortgaged
IT Returns
For self-employed
Bank account statements of the previous 6 months
PAN Card/Aadhaar Card
Address Proof
Copy of the documents of the property to be mortgaged

Loan Against Property Eligibility Criteria

For Salaried

You can easily avail the fastest Loan Against Property from Bajaj Finserv if you meet the following criteria:

You should be between 33 to 58 years of age.
You should be a salaried employee in an MNC, a private company or the public sector.
You should be a resident of India.

For Self Employed

You are eligible for a Loan Against Property for Self Employed with quick loan disbursal within 4 days if you meet the following criteria

You should be between 25 to 70 years of age.
You should be a self-employed individual with a regular source of income
You should be a resident of India residing in the following cities

List of Cities:

Hyderabad, Delhi, Kolkata, Mumbai,Thane, Pune, Ahmedabad, Chennai, Bangalore, Ahmedabad, Vizag, Udaipur, Surat, Indore, Cochin, Aurangabad

Meet the below-mentioned basic eligibility criteria to avail a Loan Against Property from Bajaj Finserv:

Eligibility Criteria	Salaried Individual	Self-Employed Individual
Age of the borrower should be between	33 and 58 years	25 and 70 years
Residential status	Need to be a resident of India	Need to be a resident of India living in one of the following cities. Delhi, Mumbai, Kolkata, Hyderabad, Ahmedabad, Thane Pune, Bangalore, Chennai, Udaipur, Vizag, Surat, Cochin, Aurangabad, Indore.
Employment status	Should be a salaried individual employed in a public sector company, private company, or an MNC	Should be a self-employed person having a regular source of income
Maximum loan tenor available	Flexible between 2 and 20 years	Flexible up to 18 years
Eligible for a maximum loan amount of	Up to Rs.1 Crore	Up to Rs.3.5 Crore

An applicant must also have the necessary property documents along with proof of regular income. Once you meet the eligibility criteria, apply for Loan Against Property from Bajaj Finserv with necessary documents to get quick approval within 48 hours.

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Loan Against Property Eligibility Criteria FAQs

What is the tenure for Loan Against Property?

If you need high-value financing for business or personal reasons, a Loan Against Property from Bajaj Finserv can be the most suitable financing solution. Meet the Loan Against Property eligibility to avail up to Rs. 3.5 Crore. Choose repayment tenure as per your finances.

You can select a convenient repayment schedule starting from 2 years. The maximum tenure for Loan Against Property is 20 years.

Select the Right Tenure

Analyse your current financial obligations.
Review the apparent monthly budget.
Evaluate financial prospects.

If you select a longer Loan Against Property tenure, EMIs will be lower while the total interest payable will be higher and vice versa.

What security is required for Mortgage Loan approval?

A loan against property is one of the most preferred secured loans in India, which can be used for several purposes. Bajaj Finserv offers up to 75% - 90% of the property’s market value as a loan. To avail it, provide any of the following as collateral for a Mortgage Loan instant approval and disbursal –

Residential properties (both self-occupied and rented).
Commercial properties (both self-occupied and rented).
Residential plot with no construction.
Industrial properties.

Fulfil the simple eligibility criteria regarding age, employment status, etc. and submit minimal documents to enjoy the fastest Mortgage Loan approval. Apply with Bajaj Finserv for funds up to Rs. 3.5 Crore.

What can a Loan Against Property be Used for?

Among a host of financing options available in the market, a loan against property is gaining popularity amongst borrowers. One significant reason for its popular acceptance is the Loan Against Property uses. You can utilise the funds for the multiple purposes such as –

Personal Purposes

Healthcare and medical issues
Higher education
Wedding
Downpayment of a high-value purchase, etc.

Business Purposes

Business trip overseas
Business expansion
Stock inventory
Marketing and promotion, etc.

Borrowers can enjoy various Loan Against Property benefits such as longer tenure, minimal documentation, balance transfer facility, etc. Know how to use a Loan Against Property and utilise the funds strategically to meet all your requirements.

Can there be a Co-Applicant for Loan Against Property? If yes, who can be co-applicant?

Bajaj Finserv provides customised Loans Against Property based on the mortgage’s current market value. If the property value is insufficient to sanction the required amount, you can opt for a Loan Against Property co-applicant.

Who Can Be A Loan Against Property Co-applicant?

Apply for a higher amount easily with any of these co-applicants –

Brothers
Spouse
Either of the parents
Parents and unmarried daughters

These are the individuals who can be a co-applicant for Loan Against Property. Ensure to check the eligibility criteria needed and apply for amounts up to Rs. 3.5 Crore with Bajaj Finserv.