VISA AND FLIGHTS
Apart from college application fees, the cost of visa, insurance, and flight ticket add up to a substantial expense. A loan against property enables you to pay for alike costs, thanks to the no end-use restrictions.
ELECTIVE COURSES
Education loans are likely to cover just the cost of tuition. But if your child wants to opt for an elective course for extra credits, you should not have to worry about the additional capital.
LIVING EXPENSES
In addition to paying your rent, there are other overheads like groceries, transportation, phone bills, and internet. These can set you back by an enormous amount. These substantial costs are often not covered by an education loan and require additional finances.
Features and benefits of our loan against property
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All you need to know about our Loan Against Property
Watch this video to know everything about our loan against property: Features and benefits, fees and charges, eligibility criteria, and more.
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Loan amount of up to Rs. 10.50 Crore*
Manage your urgent financial needs with a sizeable loan amount of up to Rs. 10.50 Crore* sanctioned based on your mortgaged property.
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Low interest rates
Our loan against property comes with affordable interest rates starting from 9% to 14% (Floating rate of Interest) p.a.
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Disbursal in 72 hours*
Get money in your bank account within 72 hours* of the approval, in some cases, even earlier.
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Tenure of up to 15 years
You can repay your loan amount conveniently with a repayment tenure ranging up to 15 years.
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Multiple end-use options
With no end-use restrictions, use the loan amount for an emergency or pay for wedding expenses, higher education or business expansion.
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no foreclosure charges*
If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part-prepayment charges.
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Externally benchmarked interest rates
Link your loan to an external benchmark such as the Repo Rate and benefit during favourable market trends.
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*Terms and conditions apply.
Loan against property EMI calculator
Enter a few details and check your loan against property EMIs.
Eligibility criteria and documents required
Anyone can apply for our loan against property as long as they meet the criteria mentioned below.
Eligibility criteria
- Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
- Age: Minimum age: 25 years* (18 years for non-financial property owners)
Maximum age: 85 years* (including non-financial property owners)
*Age of the individual applicant/ co-applicant at the time of loan maturity.
*Higher age of co-applicant may be considered up to 95 years basis 2nd generation (legal heir) meeting age norms and to be taken as co-applicant on loan structure.
- CIBIL Score: A CIBIL Score of 700 or higher is ideal to get an approved loan against property.
- Occupation: Salaried, self-employed professionals like doctors, and self-employed non-professionals are eligible to apply.
Documents required:
- Proof of identity/ residence - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- Proof of income
- Property-related documents
- Proof of business (for self-employed applicants), and
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
Check your loan against property eligibility
Find out how much loan amount you can get.
Loan against property application process
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Applicable fees and charges
We advise you to read about our fees and charges thoroughly before applying.
Types of fees |
Applicable charges |
Rate of interest (floating rate of interest) |
9% to 14% per annum |
Processing fee |
Up to 3.54% of the loan amount (inclusive of applicable taxes) |
Documentation charges |
Up to Rs. 2,360/- (inclusive of applicable taxes) |
Flexi fee |
Term Loan - Not applicable |
Prepayment charges |
Full prepayment
Part-prepayment
Note: If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part-prepayment charges. |
Annual maintenance charges |
Term Loan: Not applicable |
Bounce charges |
In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied |
Penal interest |
Penal interest is applicable in the following scenarios: 1. Delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the date of default until the receipt of monthly instalment. 2. Default of other condition(s): In case of breach of terms of the loan agreement and/ or sanction letter terms, including but not limited to non-submission of requisite documents to BFL, it shall attract penal interest at the rate of 1% per annum on the loan amount till the date of rectification of such default to the satisfaction of BFL. The effective date of levying of penal interest shall commence from the date of committing the default, unless otherwise communicated to the borrower(s) in writing before the penal interest is levied. |
Stamp duty (as per respective state) |
Payable as per state laws |
Mandate rejection charges |
Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered |
Broken period interest/ pre-EMI interest |
Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
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Mortgage origination fees |
Up to Rs. 6,000/- per property (inclusive of applicable taxes) |
Property insight (if availed) |
Rs. 6,999 (inclusive of applicable taxes) |
Still haven’t found what you are looking for? Click on any of the links at the top of this page.
Frequently asked questions
Any salaried or self-employed individual can apply for a Loan Against Property with Bajaj Finserv as long as you meet our eligibility criteria. Your age, employment status and city of residence are other key criteria.
If you are a salaried Indian citizen residing in India, between the age group of 25 years to 85 years, or a 25 years to 85 years old self-employed Indian, you are eligible. Other factors like your income profile, your CIBIL Score, etc. are also considered when you apply for a Loan Against Property.
*Terms and conditions apply
Loan Against Property is a secured loan in which you mortgage your property to a lender in exchange for a substantial sanction to cover your expenses. Several factors influence the final loan amount, including the individual's profile and repayment capacity, the property's market valuation, and the lender's loan to value ratio.
You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years.
The CIBIL Score is an important indicator of your creditworthiness. To get a loan against property, it is preferable to maintain a CIBIL Score of 700 or higher.
