Investing in commercial land can be a transformative step for you if you are looking to expand or venture into real estate. This strategic move not only broadens your horizons but also strengthens your financial portfolio. However, the success of this investment often depends on securing the right financing. Fortunately, there are multiple financing options tailored to meet your diverse needs. Commercial mortgages or a commercial land purchase loan provide long-term financing options, allowing you to purchase or refinance properties. Bridge loans offer short-term solutions, bridging financial gaps until you secure long-term financing. Construction loans are perfect for those looking to build on their land, disbursing funds in stages as construction progresses.
Another viable option for you is a loan against property. This type of loan uses the value of your owned property to provide the necessary funds. It offers flexibility in terms of loan amount and repayment tenure, making it suitable for various business needs. Whether you are acquiring new land, developing a commercial property, or refinancing existing debts, a loan against property can serve as an effective financing solution. With Bajaj Finserv Loan Against Property, you can leverage the potential of your property to finance your commercial land purchase, offering a hassle-free and convenient process tailored to your needs.
Benefits of a Bajaj Finserv Loan Against Property
- Higher loan amounts: Compared to other types of loans, loan against property offers higher loan amounts. This is because the loan is secured against property, which provides assurance to the lender. You can secure a substantial loan of up to Rs. 10.50 crore* through Bajaj Finance, with approval dependent on the value of your mortgaged property.
- Lower interest rates: Secured loans like loan against usually come with lower interest rates compared to unsecured loans. The collateral reduces the lender's risk, allowing them to offer the loan at a more competitive interest rate. This can result in considerable savings for the borrower over the loan tenure. Bajaj Finserv Loan Against Property offers competitive interest rates ranging from 9% to 12% per annum (Floating rate of Interest).
- Flexible repayment options: A loan against property offers flexible repayment options tailored to your financial capabilities. With Bajaj Finance, you can repay your loan amount conveniently with a repayment tenure going up to 15 years*.
- Multipurpose usage: One of the significant advantages of loan against property is its multipurpose usage. While the primary objective may be purchasing commercial land, you can also use the sanctioned loan amount for various purposes like business expansion, working capital requirements, debt consolidation, or personal needs. This flexibility makes it a versatile financing option for business owners and individuals alike.
How to apply for a loan against property
Applying for a loan against property with Bajaj Finance is a seamless process. Here's a step-by-step guide to help you through:
- Click on the 'APPLY' button on this page.
- Enter your pin code and click ‘Proceed’ to continue with the application.
- Provide basic details like your full name and mobile number.
- Select the type of loan, net monthly income, area pin code, and the desired loan amount.
- Generate and submit your OTP to verify your phone number.
- Enter additional details such as property location, current EMI amount, and PAN number.
- Click on the 'SUBMIT' button to complete the application.
Once your loan request is submitted, a Bajaj Finserv representative will connect with you to guide you through the subsequent steps, ensuring a smooth and hassle-free experience.
A loan against property for commercial land purchase offers a viable financing solution, leveraging your property's value to secure the required funds. With Bajaj Finance’s competitive interest rates, flexible repayment options, and simplified application process, achieving your commercial land investment goals has never been easier. Unlock the potential of your property with Bajaj Finserv Loan Against Property and take a step closer to realising your commercial real estate aspirations.
