You will need the following documents* to apply for a Loan against Property:
*Please note that the list of documents mentioned is indicative. During loan processing, additional documents may be required.
The eligibility criteria for a Loan Against Property from Bajaj Finserv are simple. Salaried applicants must be:
The eligibility criteria for a Loan Against Property for self-employed individuals are different but just as straightforward. Self-employed applicants must be:
Get money in bank in just 4 days* with a Loan Against Property.Apply now
Meet the below-mentioned basic eligibility criteria to avail a Loan against Property from Bajaj Finserv:
|Eligibility criteria||Salaried individuals||Self-employed individuals|
|Age||28–60 years||25–70 years|
|Residential status||Resident of India||Resident of one of the following cities:
Delhi, Mumbai, Kolkata, Hyderabad, Ahmedabad, Thane Pune, Bangalore, Chennai, Udaipur, Vizag, Surat, Cochin, Aurangabad, and Indore
|Employment status||Should be a salaried individual employed in a public sector company, private company, or an MNC||Should be self-employed with a steady source of income|
|Maximum loan tenor available||Flexible tenor between 2 and 20 years||Flexible tenor up to 18 years|
|Maximum loan amount of||Up to Rs.1 crore||Up to Rs. 3.5 crore|
*The upper age limit is considered as the age at the time of maturity of the loan
Applicants must also have the necessary property documents along with proof of regular income. Once you meet the eligibility criteria, apply for a Loan Against Property from Bajaj Finserv with the necessary documents handy to get disbursal within 72 hours*.
If you need high-value financing for a business or personal reason, a Loan Against Property from Bajaj Finserv is one of the most suitable financing solutions. The financial instrument’s suitability is not only because of the high-value funds one can avail of but also because of the option of flexible repayment tenors ranging up to 20 years.
How to select the right tenor
Note that the longer the Loan Against Property tenor, the higher will be the EMIs and the total interest payable.
A Loan Against Property is one of the most preferred secured loans in India, as applicants are free to use the funds as they deem fit. Bajaj Finserv offers up to 75–90% of a property’s market value as a loan. Provide any of the following as collateral for a mortgage loan with instant approval and disbursal:
Fulfil our simple eligibility criteria regarding age, employment status, etc., and submit minimal documents to enjoy the fastest mortgage loan approval with Bajaj Finserv.
Loan Against Property remains a popular option among borrowers for a number of reasons. Two of the key reasons are availability of funds on an urgent basis and more importantly, the freedom to use the funds as you deem fit. In other words, the loan amount in this financing option is free of end-use restrictions.
With Bajaj Finserv, borrowers enjoy various Loan Against Property benefits, such as longer tenor, minimal documentation, and balance transfer facility, among others. Read on to know how to use a Loan Against Property and utilise the funds strategically to meet all your requirements.
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 –
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.
To avail of a Loan Against Property from Bajaj Finserv, a salaried individual must be minimum 33 years old and maximum 58 years old. For self-employed individuals, the minimum age is 25 years and the maximum is 70 years. You must also check the other property loan eligibility criteria before applying.
The maximum amount with a Loan against Property that an applicant can avail depends on the employment status. Self-employed individuals can avail an advance of up to Rs.3.5 crore while the maximum loan limit for a salaried individual is Rs.1 crore.
No, an NRI cannot avail of a Loan against Property. One of the eligibility criteria to avail of a Loan Against Property from Bajaj Finserv is that the applicant must be a residing Indian citizen.
Flexi Loans are the new way of borrowing funds in India, where you get access to a pre-approved loan limit based on your credit rating. Borrow funds whenever you need them and prepay when you have additional funds in hand.
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