Avail the fastest Bajaj Finserv Loan Against Property at affordable interest rates, with money in bank in 4 days. There are no hidden charges involved.
Here is a list of the rates and charges of Loan Against Property.
LAP (Loan Against Property) = BFL-SAL FRR* – Margin = 10.10% to 11.50%
*BFL-SAL FRR (Bajaj Finance Limited Floating Reference Rate for Salaried customers) – 20.90%
LAP (Loan Against Property) = BFL-SE FRR* – Margin = 10.50% to 14.50%
*BFL-SE FRR (Bajaj Finance Limited Floating Reference Rate for Self Employed customers) 20.90%
BHFL FRR for cases booked prior to April 2018 was 12.95%
|Loan Against Property Interest Rates in India|
|Types of Fees on Property Loan||Charges Applicable|
|Loan Against Property Processing fees||Up to 1.5%|
|Property Loan statement charges||Rs. 50|
|LAP Interest and principal statement charges||NIL|
|Mortgage EMI bounce charges||Up to Rs.3,000/-|
|Penal interest||Up to 2% per month + applicable taxes|
|Mortgage origination fee||Up to Rs.4,999 (One time)|
*Applicable following 1st EMI clearance.
|Borrower type: Interest type||Time (Months)||Foreclosure charges|
|Individual: Floating rate||>1||Nil|
|Non-individual: Floating rate||>1||4% + applicable taxes|
|All borrowers: Fixed rate||>1||4% + applicable taxes|
- 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.
|Borrower type: Interest type||Time (Months)||Part-prepayment charges|
|Individual: Floating rate||>1||Nil|
|Non-individual: Floating rate||>1||2% + applicable taxes|
|All borrowers: Fixed rate||>1||2% + applicable taxes|
- 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.
Yes, you should have the property to be mortgaged insured against fire & other calamities during the loan tenure. You need to provide proof of the same to Bajaj Finserv when required.
It is also advisable to avail an insurance cover for the Loan Against Property availed. Know why do you need Mortgage Loan insurance below.
So, have an insurance policy in place for your property when you apply for a Loan Against Property with Bajaj Finserv for maximum liability coverage.
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 two types of mortgage credit with Bajaj Finserv, Home Loan and Loan 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.
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 the finance applied for easily.
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.
1. Employment status
Either be a salaried individual with an MNC, private or public concern or be a self-employed individual with a stable income.
2. Age group
You should be within 25 – 70 years if salaried applicant and 33 – 58 years if self-employed.
Be an Indian citizen, residing in the country.
If you qualify for the Bajaj Finserv Mortgage Loan, apply online with our application form easily.