₹40 Lakh Loan Against Property

You can secure a ₹40 Lakh loan against property to meet a range of financial needs. These could include home renovation, medical expenses, funding education, or consolidating existing debts. By using your high-value property as collateral, you can easily access the necessary funds. 

Understanding the EMIs that you need to pay at different loan terms will help you choose the most suitable plan for more manageable repayment. Taking a LAP from Bajaj Markets is quick and convenient as you can apply digitally from the comfort of your home.

You can choose from various loan tenures based on your financial capacity, such as 5, 10, 15, 20, 25, or 30 years for the ₹40 Lakh loan against your property. Remember, opting for a longer tenure reduces your monthly EMIs, but leads to higher overall interest payments.

Refer to the table below to check the EMI amounts for various tenures:

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

For a ₹40 Lakh LAP with a 10-year tenure, check the EMI amount, total interest charges, and total amount payable in the table below:

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

For easier repayment, you can choose an extended tenure, such as 20 years. Check the repayment structure for a ₹40 Lakh loan against property in the table below:

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

If you prefer smaller EMIs for more manageable repayments, choosing a 30-year tenure is a wise choice. Below is an example of what the repayment structure could look like:

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

Selecting the right lender is crucial for securing the most favourable loan terms. Head to Bajaj Markets to browse the loan against property options from various lenders and make a well-informed choice. 

The following table provides details of lenders and their starting interest rates:

Disclaimer: The mentioned rates are subject to change at the lender’s discretion.

To qualify for a loan against property, you must meet certain eligibility criteria. When applying with Bajaj Markets, here are the specific requirements for both salaried and self-employed applicants:

• You should be between 21 and 70 years of age

• You must have a minimum monthly income of ₹30,000

• You need at least 1 year of work experience if salaried, or 2 years if self-employed

You also need to submit the following paperwork for verification:

For Salaried Individuals:

• Identity Proof: Aadhaar card, PAN card, Voter ID, Passport, or any government-issued ID

• Address Proof: Aadhaar card, Voter ID, Passport, utility bill, Ration card, or any government-issued document

• Income Proof: Salary slips for the last 3 months, latest Income Tax Return (ITR), and Form 16

• Documents of the property being pledged

For Self-employed Individuals:

• Identity Proof: Aadhaar card, PAN card, Voter ID, Passport, or any government-issued ID

• Address Proof: Aadhaar card, Voter ID, Passport, utility bill, Ration card, or any government-issued document

• Income Proof: Bank statements for the last 6 months, audited financial statements of the business, and ITR filed by the business

• Documents of the property being pledged