Personal property loan is a credit an individual can avail by mortgaging their personal property. While several items and possessions can be classified as owned property, Bajaj Finserv brings this credit in the form of Loan Against Property.
You can avail this loan by mortgaging a residential or commercial property whose ownership lies with you as personal property. The lending market classifies such credit options as a chattel mortgage or a loan arrangement that secures the lent amount through a chattel or personal property.
The difference between a personal Property Loan and any other mortgage credit is that the personal property in the former is built on land that is not owned, but either leased or rented. You can avail loan from Bajaj Finserv can fetch you several attractive features and benefits.
1) Utility For Big-ticket Expenses
Bajaj Finserv offers this loan against an owned residential or commercial property with a high-value loan amount. With no restriction to end-use, use it to any personal financing requirement.
2) High Affordability With A Lower Rate Of Interest
Property loan rates offered by Bajaj Finserv on this loan against personal property are one of the lowest in the market. Check out the interest rates and charges available for both salaried and self-employed individuals.
3) Reduced Emis Due To Longer Repayment Tenure
Pay lower EMIs on your property loan as the loan amount is distributed over a longer repayment tenure. Use a mortgage calculator to estimate your monthly cash outflow as EMIs and manage your finances easily throughout the repayment period.
4) Low To No Charges Of Prepayment
Bajaj Finserv also offers part-prepayment and foreclosure facility on this loan with minimum charges. Individuals availing it on floating rate of interest have to pay nil charges for the same.
Additional Read: What is Loan for Unemployed
Apply for this Mortgage Loan on personal property by filling up the online application form. Enjoy approval within 48 hours of application and disbursal of the fastest Loan Against Property in India within four days.