Do You Need A Guarantor For A Loan Against Property?

Loan Against Property is a type of Mortgage Loan offered by Bajaj Finserv with exclusive features and benefits. Avail high loan amounts of up to Rs. 3.5 Crore by mortgaging a residential or commercial property.

Do You Need a Guarantor to Avail a Property Loan?

A guarantor is not mandatory to avail a Mortgage Loan from Bajaj Finserv. You can successfully apply without a guarantor to mortgage one of the following immovable properties to avail this loan –

  • Self-occupied residential property.
  • Residential or commercial property that is rented.
  • Vacant commercial or residential property.
  • Property shared with other co-owners.

Also Read: How to get Education Loan on Property

Loan Against Property Eligibility Criteria

Bajaj Finserv measures a person’s ability to avail a Property Loan based on the following parameters.

  1. Age of the applicant.
  2. The person’s source of income.
  3. The current market value of the property.
  4. The applicant’s existing obligations in the form of loans & credits from any financial institution.
  5. Employment/business’s status and its stability.
  6. The applicant’s track record of availing credit over the years.

CIBIL score is not an important criterion to avail a secured credit like a Mortgage Loan. A high CIBIL score makes you more creditworthy and increases the chances to maximise loan value.

Plus, Bajaj Finserv also offers attractive Loan Against Property interest rates and convenient repayment tenures. Check the easy-to-meet Mortgage Loan eligibility criteria and documentation requirements to apply for it successfully.

Check out the Mortgage Loan rates to pre-plan the repayment. Knowing it beforehand helps you calculate the monthly outflow in the form of EMIs consisting of principal and interest repayments. It also helps manage finances more efficiently.

Additional Read: Tax Benefits on Loan Against Property

Apply for this loan online, submit the documents required and receive hassle-free disbursal within 4 days of approval.