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.

  • Loan amount

    Loan amount of Rs. 10.50 Crore*

    Manage your urgent financial needs with a sizeable loan amount of Rs. 10.50 Crore* sanctioned based on your mortgaged property.

  • Low interest rates

    Low interest rates

    Our loan against property comes with affordable interest rates starting from 8% to 14% (Floating rate of Interest) p.a.

  • Disbursal in 72 hours*

    Disbursal in 72 hours*

    Get money in your bank account within 72 hours* of the approval, in some cases, even earlier.

  • Tenure of up to

    Tenure of up to 15 years

    You can repay your loan amount conveniently with a repayment tenure ranging up to 15 years.

  • Multiple end-use options

    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.

  • No foreclosure charges

    No foreclosure charges

    An individual borrower who opts for a floating interest rate can pre-prepay a part or close the entire loan without an additional fee or a penalty.

  • Externally benchmarked interest rates

    Externally benchmarked interest rates

    Link your loan to an external benchmark such as the Repo Rate and benefit during favourable market trends.

  • *Terms and conditions apply.

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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 at the loan application of the individual applicant/ Co-applicant.
    *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
  • 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.

Loan against property application process

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Step-by-step guide to apply for a loan against property

  1. Click on the 'APPLY' button on this page.
  2. Enter your pin code and click Proceed.
  3. Provide basic details like your full name and mobile number.
  4. Now select the type of loan that you wish to apply for, your net monthly income, your area pin code, and the required loan amount.
  5. Generate and submit your OTP to verify your phone number.
  6. Enter further details like your property location, your current EMI amount/ monthly obligation, and your PAN number.
  7. Click on the ‘SUBMIT’ button.

That is it! Your loan request is submitted. Our representative will connect with you and guide you through the next steps.

  • Did you know?

    You can lower your EMI amount by choosing a longer repayment tenure

  • Did you know?

    A higher CIBIL score could get you better interest rates on your loan

  • Did you know?

    You can use the loan amount for multiple uses without any limitations

  • Did you know?

    You can use the loan to start a new business and avail of tax exemption

Applicable fees and charges

We advise you to read about our fees and charges thoroughly before applying.

Type of fee Applicable charges
Rate of interest (floating rate of interest) 8% to 14% per annum (Floating rate of Interest)
Processing fees Up to 3.54% of the loan amount (inclusive of applicable taxes)
Document processing charges Up to Rs. 2,360/- (inclusive of applicable taxes)
Flexi Fee Term Loan - Not applicable
Flexi Variant - Not applicable
Pre-payment charges

Full Pre-payment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part Pre-Payment.
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi
    Foreclosure charges/ pre-payment penalties are not applicable on any floating rate term loan sanctioned, for purposes other than business, to individual borrowers with or without co-applicant(s).
Annual maintenance charges Term Loan: Not Applicable
Flexi Term Loan (Flexi Dropline): Not applicable
Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the Total Withdrawable Amount during Initial Loan Tenure. Not applicable for subsequent Loan Tenure.
Bounce charges In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied
Penal interest Any 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.
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 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by the following methods:

For Term Loan: Deducted from the loan disbursement
For QDP process and disbursement mode is cheque: Added to the first instalment
For Flexi Term Loan: Added to the first instalment
For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed.

Mortgage origination fees Up to Rs. 6,000/- per property (inclusive of applicable taxes)
Property insight (if availed) Rs. 6,999/- per property (inclusive of applicable taxes)
Mandate registration charges In case of UPI mandate registration, Re. 1 (inclusive of applicable taxes) will be collected from the customer

Frequently asked questions

Who can get a loan against property?

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.

Am I eligible for a loan against property?

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

How much loan will I get against my property?

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.

What is the maximum repayment tenure for a loan against property?

You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years.

What should be my CIBIL Score if I want to apply for a loan against property?

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.

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