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Loan Against Property in Coimbatore Overview

One of the key cities in Tamil Nadu, Coimbatore is a bustling city in the southern state of Tamil Nadu. The city boasts of a vibrant culture alongside healthy economic growth and plentiful employment opportunities for residents. Given its recent economic growth, the city has emerged as a popular destination to settle down in South India.

As a property owner in Coimbatore, a Loan Against Property (LAP) is your easiest, quickest, and most affordable option to access a large volume of funds in a short time frame. Bajaj Finserv offers loans against property, starting at only 8.40%* p.a. for salaried and professional applicants. You get access to sizeable funding (Rs.5 Cr* or higher, basis eligibility), with the option to repay over up to 18 years. LAP is the ideal solution for urgent financial requirements – such as higher education, medical, or wedding expenses – since you get the funds in your account within 72 hours* of document submission.
 

Loan Against Property in Coimbatore: Features and benefits

  •  Loan of Rs.5 Crores or More

    Access to high quantum of funding: Rs.5 Cr*

    Eligible applicants with the right employment, income, and credit profiles can avail of high loan amounts of Rs.5 Cr* or even higher. Thus, a LAP is a feasible solution even when a large amount of funds are needed.

  • Interest rate starting at 8.35%*

    Competitive interest rate: 8.40%* p.a.

    Bajaj Finserv offers loans against property for both salaried and self-employed applicants at affordable interest rates. Salaried and professional applicants can avail of a LAP at as low as 8.40%* p.a.

  • Quick processing and disbursal in 72 hours*

    Quick processing and disbursal: 72 hours*

    What makes a LAP the ideal solution for urgent financial needs is the quick processing and approval process. You can expect funds in your account in as little as 72 hours* from the time you submit all necessary documents.

  • Tenor

    Flexible repayment tenor: 18 years

    A common concern while availing of a high-value loan is affordability at the time of repayment. With a LAP, you can repay the loan over a period of up to 18 years, which ensures comfortable repayment even in the case of large loans.

  • Contact-free loans

    Online account management

    With Bajaj Finserv, not only are you assured of a hassle-free experience while applying but also once the loan is disbursed. You can check all key details, complete payments, and download statements through our online customer portal.

  • Minimal Documentation 

    Minimal documentation and doorstep service

    To ensure a truly hassle-free experience, we have kept our eligibility criteria simple and our documentation requirements at a minimum. What’s more, you even get the option to choose doorstep service, wherein our representative comes to your doorstep to collect your documents.

Loan Against Property in Coimbatore: Eligibility and documents

Listed below are our key eligibility criteria.

  • Employment: Both salaried and self-employed eligible
  • Salaried: Should have a minimum of 3 years of work experience with a public or private organisation, or an MNC
  • Self-employed: Should be engaged in a business with a vintage of a minimum of 5 years
  • Should be a residing Indian citizen
  • Salaried applicants should be over 23 years at the time of application, whereas self-employed applicants should be over 25 years
  • Salaried applicants should be under 62 years at the time of loan maturity (the end of the tenor), whereas self-employed applicants should be under 70 years
  • Applicants should be able to showcase steady income on a regular basis
  • The property to be mortgaged should be located in one of the cities Bajaj Finserv operates in

The supporting documents required with your application include:

  • KYC: Aadhaar Card, PAN Card, utility bills, etc.
  • Income: Salary slips (salaried), P&L statement (self-employed), ITR for 2 years, bank account statements for 3–6 months
  • Property: Title deed, property tax receipts, etc.

Loan Against Property in Coimbatore: Interest rates and charges

Bajaj Finserv offers loans against property at competitive rates for all applicant types – salaried, self-employed, and professionals.

  • Floating interest rate for salaried: Starting 8.40%* p.a.
  • Floating interest rate for professionals: Starting 8.40%* p.a.
  • Floating interest rate for self-employed: Starting 7.75%* p.a.
 

Some of our key fees and charges are:

  • Processing fee: up to 7% of loan amount
  • Loan and interest and principal statement charges: NIL
  • Penal interest: Up to 2%

For a complete list of our LAP interest rates and fees and charges, click here.

Contact us for Loan Against Property in Coimbatore

You can apply for a loan against property with Bajaj Finserv both online and offline. To apply online, click here. Once you submit your details, our representative will call you shortly and explain the next steps. You can also apply offline by visiting any of our branches.

If you would like to apply via call or SMS, you can either call on 1800 103 3535 or SMS (or ) to 53010

Did you know, a good CIBIL score can help you get a better deal on loans and credit cards?