Important Things to Know About Loan Against Property

The affordable EMIs, balance transfer facility, top-up loan, and several other features offered by NBFCs with a loan against property is the ideal option for numerous borrowers. These loans reduce the financial the burden under various circumstances like medical emergencies, home renovation, higher education, etc.

Although various financial institutions and lenders provide with such loans, Bajaj Finserv loan against property offers additional benefits and affordable interest rates to their applicants.

Significant Features and Benefits:

> Loan Amount is Comparatively High:- Salaried individuals can opt for a loan up to Rs. 1 Crore, whereas self-employed candidates can avail an amount up to Rs. 3.5 Crore.
> Disbursal is Hassle-Free:- Processing is fast, and the loan is reflected in your account within four days.
> Flexible long Tenure:- Self-employed candidates can opt for a tenure of up to 18 years, and the range is extended to 20 years for salaried individuals.
> Simpler Account Management:-With the help of their customer portal, you can get access to your application easily.

Additionally, their mortgage loan interest rate is attractive that keep your monthly installments affordable.

Eligibility Criteria and Required Documents

Proof of address, ID proof (preferably Aadhaar or PAN Card), and documents of the property to be mortgaged are some of the documents applicants have to submit.

For salaried employees, the following needs to be submitted:

• Latest salary slip
• Bank account statement for the past three months
• Income tax returns
• Documents of the property

For availing a loan against property, self-employed candidates need to provide with the following bank account statement for the past six months.

In addition to the above, Bajaj Finserv offers affordable charges when you apply to keep your cost of loan low.

Must Read: All You Need to Know About Bajaj Finserv’s Loan Against Property