Loan against property interest rate and fees

Enjoy attractive loan against property interest rate at Bajaj Finserv starting at 9.85%* for salaried and professional applicants. Check loan against property eligibility, documents as this will help you get the right deal and loan against property rates that suit your pocket. Check loan against property rates for salaried and self-employed applicants:

Loan Against Property Interest Rate (Floating)

Employment Type

Effective ROI (p.a.)


9.85%* to 15.00%*


9.50%* to 18.00%*


Types of fees

Charges applicable

Loan against property processing fees

Up to 7%

Property loan statement charges


Loan against property interest and principal statement charges


Mortgage EMI bounce charges

Up to Rs. 3,000/-

Penal interest

Up to 2% per month

Mortgage origination fee

Up to Rs. 4,999 + GST as applicable

Fees and charges applicable on property loan

Foreclosure charges and part-payment charges

Floating rate loans: If all borrowers and co-borrowers are individuals, and the time is under a month.

Loan type

Foreclosure charges

Part-prepayment charges

Term loan



Flexi loan



Flexi hybrid loan



Fixed rate loans: All borrowers (including individuals) and the period in consideration is under a month.

Loan type

Foreclosure charges

Part-prepayment charges

Term loan

4%* on principal outstanding

2%* on the Part-Payment Amount

Flexi loan

4%* on the available flexi loan limit


Flexi hybrid loan

4%* on sanctioned amount during flexi interest only loan repayment tenure;
4%* on the available flexi loan Limit during Flexi Term Loan Tenure


*GST as applicable will be payable by the borrower in addition to the prepayment charges.

  • For Term Loan, charges will be calculated on the outstanding principal
  • For Flexi Interest-only Loan, charges will be calculated on the sanctioned limit
  • For Flexi Term Loan, charges are calculated on the current dropline limit
  • Part-prepayment made should be more than 1 EMI
  • These charges are not applicable for the Flexi Interest-only Loan and Flexi Term Loan facilities

Factors affecting loan against property interest rate

Since a mortgage loan is secured by a high-value asset, that is, a residential or commercial property, loans against property interest rates are usually economical. However, lenders do not offer the same property loan interest rates to all borrowers uniformly. Loan against property interest rates depend on several key factors.

  • Credit score
    One of the important factors that affect the loan against property interest rate is your CIBIL score. Though it is a secured loan with affordable rates of interest, if your credit score is 750 or higher, you can secure a better rate of interest.

  • Applicant’s profile
    When deciding property loan interest rates, lenders consider your total financial profile. Salaried individuals may secure better loan against property interest rates than self-employed individuals as they enjoy a fixed income. However, self-employed professionals like doctors and CAs can get low interest rates. If salaried, your lender will prefer you have a reputed employer, whose ability to pay salaries is unquestionable.
    Likewise, your income and debt-to-income ratio will be evaluated. A high income and low debt-to-income ratio can translate to an affordable interest rate. Your age, and the number of working years left, also impacts the loan against property interest rates you get.

  • Loan duration
    Opting for a short tenor can help you secure a low interest rate as lenders can better estimate variations in your credit profile and their own loan against property interest rate over the short term. When the repayment window is long, they may have to budget for some change. However, you must bear in mind the impact of your EMI on your financial profile, and in particular, your debt-to-income ratio. If lenders perceive that a short tenor increases the risk of default, they may charge a high interest rate or ask you to opt for a long tenor.

  • Property to be mortgaged
    The type of property you provide as the mortgage such as its location, condition, and age affect the loan interest rate. Residential properties are deemed to be more valuable and can fetch lower loan against property interest rates than commercial properties. Similarly, a property in a prime location, with ample civic amenities, and in pristine condition will have a higher resale value than a property in a rundown condition, located in a less desired locality. Better properties attract better loan against property interest rates.

How to get a loan against property?

As a loan against property is a secured loan of a sizable amount, the best approach is to ensure that you follow every step correctly to avail of funds and enjoy the lowest loan against property interest rate. Here’s a quick 7-step guide you can follow.

  • Check the eligibility criteria of the lender
  • Gather all the required documents, such as property papers
  • Decide on whether you want a fixed or floating interest on loan against property
  • Apply via the online loan against property application form
  • Await contact from the lender’s authorised representative
  • Review the terms of the loan offered
  • Submit the documentation

Following these steps will help you get the right deal and loan against property rates that suit your pocket. During Step 3, ensure that you use the loan against property EMI calculator to compute your potential EMIs and plan your repayment accordingly.

Once you submit the required documents, they will be verified by the lender. The property you plan to mortgage will also be examined by the lender. Once they are approved, you will receive the loan agreement from the lender, and once you sign it, the money will be disbursed into your bank account.

What are the types of loan against property?

There are various types of loans against property, which differ based on uses and features. Consider the following pointers to know all about them.

Loan against residential or commercial property

Commercial property loan is a regular mortgage loan that you can take by pledging your property, residential or commercial, as collateral. The loan amount you get is based on the current market value of the property you pledge, and you can choose between a fixed or floating loan against property interest rate.

Loan against property balance transfer

To enjoy a lower loan against property interest rate, you can transfer the outstanding principal of your mortgage loan with your existing lender to Bajaj Finserv. This allows you to pay lower EMIs and reduce your total interest. You can also avail of a top-up loan of a high amount when you opt for a balance transfer.

Loan against property top-up

A top-up loan is an additional loan over and above your loan against property offered at a nominal interest rate. It is commonly offered to those who opt for a Loan Against Property Balance Transfer. The top-up loan amount is based on the value of the property and your repayment ability. You can use the funds from a top-up loan for any purpose without restriction.

Loan against property overdraft

This feature allows you to withdraw from your sanction as per your needs from the sanctioned limit and allows repayment of the same during the tenor. Here, the loan against property interest rate doesn’t apply to the sanction as a whole and only applies to the amount withdrawn. Bajaj Finserv offers a similar feature of multiple withdrawals as and when you need funds via the industry-first Flexi loan facility. This helps you bring down your EMIs and helps you repay more affordably.

Loan against property for chartered accountants

Personalised for CA professionals, this loan against property offers a high-value loan and has simple eligibility criteria, doorstep pickup services for documents and comes at a competitive property loan interest rate.

It can be used by CAs to expand their business, purchase office space, hire more employees, pay for children’s education, and more.

Loan against property for doctors

Tailored for medical professionals, this loan against property is easy to qualify for and offers faster approvals. Doctors can use this high-value loan for any purpose, be it for expanding their practice, buying medical equipment, financing a wedding, buying a second home and more.

Loan against property for self-employed borrowers

Meant for those between 25-70 years of age who have their own business or practice, this loan against property usually offers a higher loan amount. Bajaj Finserv offers a high- value loan against property to self-employed applicants on meeting simple eligibility terms. All you need to do is fill in a simple online application form or check your pre-approved offer.

Loan against property for salaried borrowers

Salaried applicants of any public or private firm or MNC between 28-58 years of age can take this loan from Bajaj Finserv and get a high-value loan at a nominal loan against the property interest rate. The loan amount can be used to finance a wedding, a property purchase, medical treatment, children’s education and more.

Loan against property for education

Be it for domestic or overseas education, you can use this loan against property for education to pay course fees, tuition, accommodation, travel, course materials, and more. This loan offers you a high loan sanction based on your eligibility and allows you to choose your repayment tenor as per your income.

Loan against property for home renovation

This type of loan against property can be used to renovate, improve or revamp your home. Be it buying furniture or fixtures, electronics and home appliances or repairing faulty plumbing, fixing a leaking roof or adding a floor, you can use it to remodel your home to increase your comfort and its value.

Loan against property for debt consolidation

Since multiple high-interest debts can spiral out of control and negatively impact your financial wellbeing, you can tackle debt using this tailored loan against property. Simply choose the needed loan amount and enjoy a competitive loan against property interest rate from Bajaj Finserv.

Loan against property for wedding

To finance various marriage expenses such as the venue, decoration, food, honeymoon, music and photography, you can use this tailored loan against property for wedding. You can get a higher loan amount with a flexible tenor of up to 18 years.

Lease rental discounting

One of the most common types of loan against property, lease rental discounting allows you to take a loan against your rental receipts. Meant for tenants who receive rent at regular intervals, it offers high-value financing for up to 11 years based on the lease remaining on the property.

Loan against property interest rates and fees FAQs

Is it important for the property to be insured against which you are borrowing a loan?

Yes, you should have the property to be mortgaged insured against fire & other calamities during the loan tenor. You need to provide the proof of the same to Bajaj Finserv when required.

It is also advisable to avail of an insurance cover for the loan against property availed.

To know why you need mortgage loan insurance, read the point given below:

  • It guarantees mortgage loan repayment in case of the policyholder’s unfortunate disability or death.
  • Section 80C of Income Tax Act declares the premium on loan mortgage insurance tax deductible if you utilise the amount for a residential property purchase or for construction.

So, it is important to have an insurance policy in place for your property when you apply for a loan against property with Bajaj Finserv for maximum liability coverage.

What is the meaning of a mortgage loan?

The mortgage loan meaning implies credits or advances financial institutions provide to borrowers against property kept as mortgage. Bajaj Finserv provides this loan against mortgage of residential, commercial or industrial property.

You can avail of two types of mortgage credit with Bajaj Finserv, home loans and loans against property. While the former’s use limits to purchase of residential property, the latter comes with no restriction to end-usage and can also be availed for particular purposes as well.

  • Marriage advance
  • Advance for debt consolidation
  • Advance against machinery
  • Education loan on Property, etc.

Apply for a mortgage credit as per your need with Bajaj Finserv. Submit documents to complete the marriage, debt consolidation or education loan procedure and avail of the finance applied for easily.

Who is eligible for a loan against property from Bajaj Finserv?

Whether you need to finance your child’s education abroad or invest a lump sum amount towards business growth, the Bajaj Finserv Loan against Property is designed for every purpose. You can apply for this feature-rich secured loan once you meet the simple eligibility criteria as below.

  • Employment status
    Either be a salaried individual with an MNC, private or public concern or be a self-employed individual with a stable income
  • Age group
    You should be between 28 to 58 years if you are a salaried applicant and 25–70 years if you are self-employed
  • Nationality
    Be an Indian citizen, residing in the country

If you qualify for the Bajaj Finserv Mortgage Loan, apply online with our application form easily.

What is the CIBIL score required to qualify for a loan against property?

Yes. Your CIBIL score is among the many important criteria by which your application is assessed by the lender as it reflects your creditworthiness based on your history with credit. A score of 750 and above is ideal to get an affordable loan against property interest rate.

Can I get a loan against property without income proof?

Yes, it is possible to avail of a loan against property without income proof. if you:

  • Apply with a co-applicant with a strong financial profile
  • Provide bank statements indicating a strong financial standing
  • Approach a tax consultant and justify not filing your ITR with genuine reasons
Are there any charges other than loan against property interest rate?

Yes. Besides the loan against property interest rate, you will also be required to pay a few other charges at the time of availing of a mortgage loan and some throughout repayment. They are as follows.

  • Processing fee
  • Mortgage origination fee
  • Part-prepayment charges
  • Foreclosure charges
  • EMI bounce charges
  • Penal interest
How to calculate loan against property interest rate?

To calculate the loan against property interest rate, you must check the loan agreement for the specified formula. In a fixed-rate loan, the interest rate will not change. However, in case of floating rate, you will have to use the PLR minus spread formula. In this case, you will have to check the current PLR of the lender and subtract the negative spread amount from it. This negative spread amount will be mentioned in the loan document.

How to reduce the loan against property interest rate?

You can reduce loan against property interest rates by following these strategies.

  • Make regular prepayments
    You can repay your business loan through fixed EMIs, where the EMI is a predetermined amount comprising the principal and interest amounts
  • Select shorter tenor
    A longer tenor means that you have to pay more interest, so it is better to choose your loan against property tenor carefully. Adjust your tenor so that you can pay maximum EMI each month
  • Make a higher down payment
    The higher you pay down payment initially, the lower is your loan amount and which will directly impact lap interest rates
  • Good CIBIL score
    A good CIBIL score of 750+ also gives you the ability to negotiate for better loan against property (LAP) interest rate.
Can existing borrowers avail the new loan against property interest rate?

Yes, this is possible with a floating interest rate. They are linked to the internal benchmark of financial institutions. So changes in loan against property interest rate will directly affect your rates too. They will vary though out your loan tenor.

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