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Loan Against Property in Lonavala: Overview

Lonavala is a town near Mumbai that has a magnificent view of the neighbouring mountain ranges. Because of its beauty, it doubles as a great tourist attraction and a pleasant environment for business. Given that tourism is a prominent source of income, many people opt to buy a farmhouse in this region and rent it out – if not using it themselves.

To make this possible, residents of Lonavala can now take a loan against property from Bajaj Finserv at a reasonable interest rate. You not only benefit from the get a sizeable loan amount as sanction, you can spend the funds as you please – channelling it towards expenses you need addressed. In this article, we illustrate the benefits of seeking a mortgage loan from Bajaj Finserv, and all the ways in which this deal is worth it.

 

The Privileges of a Loan Against Property in Lonavala

When you take a loan against property from us, you’ll enjoy several benefits, some of which include: 

  •  Loan of Rs.5 Crores or More

    Ample Funding

    Bajaj Finserv sanctions funds worth Rs.5 Crore or more, based on the value of the property mortgaged, to eligible applicants in Lonavala. Use these funds to address any expense you wish to.

  • Flexible Tenors

    Customer Friendly Loan Tenor

    We provide flexible loan tenors to our customers, where they can choose to pay their loan against property in Lonavala over a period ranging up to 18 years. This allows for a comfortable repayment plan that doesn’t infringe upon your financial goals and savings.

  • Minimal Documentation 

    Fuss-free Documentation

    Bajaj Finserv makes it easy for you to avail of a loan against property by simplifying the application process. We ask for minimal documentation, and that coupled with our easy-to-meet eligibility requisites makes the entire process a breeze and boosts your chances of being approved for a loan amount you desire, provided you meet all our necessary asks.

  • Customised Repayment Options

    Customised Repayment Options

    To make your life stress-free, Bajaj Finserv also extends a customized loan repayment plan to suit your needs and requirements. This means that you can pay your loan back in a way that is comfortable and catered to your financial standing.

  • Fastest Turnaround Time

    Fastest Turnaround Time

    Bajaj Finserv provides you with the fastest turn-around time so that you get the loan as soon as possible. If you fulfil all our eligibility criteria, we will process your loan within 72 hours* of document submission.

  • Hassle-free Balance Transfer Facility

    Hassle-free Balance Transfer Facility

    Get a high-value top-up loan by transferring your existing loan against property to Bajaj Finserv. With our attractive offers and affordable interest rates, we give you the best experience for a loan against property in Lonavala, with reduced EMIs and more savings.

  • No Hidden Charges

    No Hidden Charges

    Are you worried about hidden charges while availing of a loan against property? At Bajaj Finserv, that is never a cause for worry. We conduct a transparent loan approval process without any hidden charges. With easy-to-understand terms and conditions, apply for a loan and get exactly what you bargain for.

  • One Loan for All Your Needs

    One Loan, Many Uses

    The benefit of seeking a loan against property is the versatility of the funds. Bajaj Finserv provides you with loans against fully constructed freehold residential and commercial properties in Lonavala, with no restriction on its end use. Applicants can choose to channel the funds to address any number of expenses, including:
        • Business needs
        • Marriage expenses
        • Medical expenses
        • Any other personal needs 

The Purposes of a Loan Against Property

People are drawn to a loan against property because of several reasons. Apart from being a secured mortgage loan, a route to large funds for urgent needs, and a loan type with zero end-use restrictions, it can serve you in a variety of ways.

Some other purposes of a loan against property include:

  • You can borrow a loan against property from us to meet medical expenses, pay for university tuition, or purchase a new property. 
  • You can also use the loan amount to fund a foreign business trip, a business extension, or invest in the stock market. 

Documents Needed to Take a Loan Against Property in Lonavala

Below is a comprehensive list of the documents that we require for processing your loan against property application. Remember that you only experience fast turnaround times when you submit the complete documents.
 
  • Current salary slips
  • Permanent Account Number (PAN, which serves as a proof of identity
  • A utility bill that serves as a proof of address
  • Bank statements from 3 months ago
  • A copy of your property documents
  • Income Tax Returns
A quick tip: We may require additional documents that you’ll have to provide at our nearest branch to you. If we do, one of our agents will contact you. 

At Bajaj Finserv, we have an array of loans that you can take to meet your needs. From a home loan to a loan against property, we require minimal paperwork and offer long repayment tenors.

Asides from these, all our loans provide you with several benefits. You can use our loan against property calculator to learn your status before applying. Click here to view our amazing offers and apply today.

Loan Against Property in Lonavala Interest Rate

This section depicts the interest charged on any approved loan against the property amount. We currently charge 9.10%* p.a. onwards as interest on loans against property, which applies to both salaried and professional applicants.

We offer a maximum repayment tenor of 18 years and a loan amount of up to Rs.5 crores. The loan to value ratio (LTV) is up to 75%, while the processing fee depends on your desired loan amount.

Conditions for Taking a Loan Against Property in Lonavala 

Before taking a loan against property, we expect you to meet certain conditions. To qualify, you should be:

  • An Indian citizen living in India 
  • Aged between 28 and 60 years as a salaried applicant. Self-employed applicants need to be aged between 25 and 70 years 
  • A professional or a salary earner with at least 3 years of work experience
  • Have a credit score of up to 725

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