Loan against property for salaried

Following are the documents required for salaried applicants:

  • Latest salary slips
  • Bank account statements of the previous 3 months
  • PAN card/ Form 60 of all applicants
  • ID proof
  • Address proof
  • Document of the property to be mortgaged
  • IT returns
  • Title documents

Loan against property for self employed

Following are the documents required for self-employed applicants:

  • Primary bank account statements of the previous 6 months
  • PAN card/ Form 60 of all applicants
  • Address proof
  • ID proof
  • Income documents like ITR/ financial statements, etc.
  • Documents of the property to be mortgaged
  • Title documents

*Please note that the list of documents mentioned above is indicative. During loan processing additional documents may be required.

Documents required for loan against property

The Bajaj Finserv Loan Against Property is a hassle-free financial instrument that you can avail whenever you need funding by pledging an eligible property as collateral. To apply for a loan against property just follow two simple steps:

  • Fulfil the easy-to-meet loan against property eligibility criteria
  • Submit the simple and basic documentation required
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Eligibility criteria for salaried applicants

To avail our loan against property as a salaried individual, you need to meet the following criteria:

  • Nationality

    Nationality

    Resident of India, owning property in the following BHFL locations:

    Delhi & NCR, Mumbai & MMR, Chennai, Hyderabad, Bangalore, Pune, Ahmedabad

  • Age

    Age

    You must be between 25 years (18 years for non-financial property owners) to 85 years* (including non-financial property owners)
    * 85 years* of age or less at the time of loan maturity

  • Employment

    Employment

    Salaried employee of any private, public or multinational organization

Eligibility criteria for self-employed applicants

To avail the loan against property for self-employed individuals, you must meet the following criteria:

  • Nationality

    Nationality

    Resident of India, owning property in the following BHFL locations:
    Bangalore, Indore, Nagpur, Vijayawada, Pune, Chennai, Madurai, Surat, Delhi & NCR, Lucknow, Hyderabad, Cochin,Mumbai, Jaipur, Ahmedabad

  • Age

    Age

    You must be between 25 years (18 years for non-financial property owners) to 85 years* (including non-financial property owners)
    * 85 years* of age or less at the time of loan maturity

  • Employment

    Employment

    Self-employed individual with a steady income from business

Frequently asked questions for loan against property eligibility criteria

What is the tenor for a loan against property?

With our offering, the maximum tenor for loan against property is 15 years. This allows you to opt for a comfortable repayment plan.

What security is required for loan approval?

To avail our mortgage loan, you require residential, commercial or industrial properties or a residential plot with no construction.

What can a loan against property be used for?

All you need to keep in mind about how to use a loan against property is that the funds can be used to for any personal and business expenses, without restrictions.

Can there be a co-applicant? If yes, who?

Yes, and a loan against property co-applicant can be a family member with a stellar financial profile.

Who can be a loan against property co-applicant?

Family members such as siblings, spouse, parents and unmarried daughters can be co-applicants.

What is the monthly income needed to qualify?

We do not lay down the minimum monthly income required to avail the loan, but you must meet all the eligibility terms.

What are the age requirements to qualify?

Salaried applicants must be between 28 and 58 years and self-employed individuals must be between 25 and 70 years.

How much can I avail with this loan?

The maximum amount with our loan against property is of Rs. 5 Cr* and higher for self-employed and up to Rs. 10.50 Crore* for salaried individuals.

Can an NRI take a loan against property?

No, an NRI cannot avail a loan against property.

What are flexi loans?

Flexi loans give access to a sanction that you can borrow funds from whenever you need them and prepay what you owe freely.

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