Here’s all you need to know about Loans Against Property available on Bajaj Markets
Our Loan Against Property Partners
✓ Loan Against Property from ₹2 Lakhs to ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 9.25%
If you own a residential or commercial property, you can use it as collateral to borrow a high amount when needed. You can get a loan of up to ₹15 Crores with the help of a loan against property on Bajaj Markets by mortgaging your property. Whether it’s for business growth, education, a wedding, or a medical emergency, the loan can help you manage your expenses quite easily.
These affordable loans are available at interest rates starting from 9.25% p.a. with flexible repayment tenures ranging up to 25 years. You can also benefit from an easy application process, quick processing, complete transparency, and a hassle-free borrowing experience.
Compare Loans Against Property
|
Our Partners
|
Minimum Interest Rate
|
Maximum Loan Amount
|
Maximum Loan Tenure
|
|
|---|---|---|---|---|
Aditya Birla Finance |
10.50% p.a. |
₹10 Cr |
15 Years |
|
|
Quick Disbursal
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Bajaj Housing Finance |
9.75% p.a. |
₹5 Cr |
18 Years |
|
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Home First Finance Company |
14.00% p.a. |
₹0.40 Cr |
20 Years |
|
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ICICI Bank |
10.60% p.a. |
₹5 Cr |
15 Years |
|
Indiabulls Commercial Credit |
9.75% p.a. |
₹10 Cr |
12 Years |
|
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India Shelter |
15% p.a. |
₹0.30 Cr |
20 Years |
|
L&T Finance |
9.60% p.a. |
₹7.5 Crores |
15 Years |
|
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LIC Housing Finance |
9.45% p.a. |
₹15 Cr |
15 Years |
|
|
Quick Disbursal
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PNB Housing Finance |
9.25% p.a. |
₹15 Cr |
20 Years |
|
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Shriram Housing Finance |
14.75% p.a. |
₹1 Cr |
25 Years |
|
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Shubham Housing Finance |
13.90% p.a. |
₹0.20 Cr |
15 Years |
|
*Disclaimer: The mentioned details are subject to change at the lender’s discretion.
Features & Benefits
High Loan Amount
You can get up to ₹15 Crores with an LTV ratio of up to 80% of the property’s current market value
Flexible Repayment Tenure
Repay your loan at your convenience with flexible repayment tenures ranging up to 25 years
Attractive Interest Rates
The interest rate of loans against property starts from 9.25% p.a., enabling you to borrow the required amount at affordable rates.
Simple Eligibility Criteria
The easy-to-meet eligibility criteria allow you to secure the loan with ease, even during unexpected financial emergencies.
Easy Application Process
The end-to-end digital application minimises the hassles of physical visits to lenders, helping you get a loan from the convenience of your home.
The eligibility requirements may differ from one lender to another. Provided below are some common criteria for your reference.
Age Limit - 21 to 70 years
Income - Minimum ₹30,000 per month
Work Experience - Minimum 1 year for salaried and 2 years for self-employed individuals
The eligibility requirements may differ from one lender to another. Provided below are some common criteria for your reference.
It is vital to keep the required documents handy to simplify the application process. Here are some documents you might be asked to submit when applying for a loan against property.
For Salaried Individuals
Identity Proof: PAN card, Aadhaar card, voter ID, passport, or any other government-issued credential
Address Proof: Voter ID, Aadhaar card, passport, utility bill, ration card, or any other government-issued proof
Income Proof: Salary slips of the last 3 months, latest ITR, and Form 16
Property Documents
For Self-employed Individuals
Identity Proof: Aadhaar card, voter ID, passport, or any other government-issued credential
Address Proof: Voter ID, Aadhaar card, passport, utility bill, or any other government-issued proof
Income Proof: Bank statements of the last 6 months, audited financials of the company, and ITR filed by the business
Property Documents
Here are some charges associated with a loan against property you should know about:
Processing Fee |
Up to 3% of the loan amount + GST |
Prepayment Charges |
Up to 4% of the prepaid amount + GST |
Late Payment Charges |
Up to 3% of the overdue EMI amount + GST per month |
Administrative Charges |
₹5,000 + GST or 0.25% of the loan amount + GST, (whichever is lower) |
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Follow these simple and easy steps to apply for a loan against property on Bajaj Markets
Click on ‘CHECK OFFER’ on this page
Fill in your personal and professional details
Select the desired loan amount and preferred tenure
- Submit the application form
After your application has been submitted, it will be reviewed and verified. Following this, an executive will contact you for further proceedings.
Quick Verification
The completely digital process allows your application to be reviewed and verified within minutes.
Minimal Paperwork
The online documentation process makes applying for a personal loan on Bajaj Markets easy and convenient.
Complete Transparency
You can be assured of zero hidden charges and complete transparency when you apply for a loan on Bajaj Markets.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
FAQs on Loan Against Property
What are the property types you can take a loan against?
You can get the loan by offering a residential, commercial or industrial property as collateral. Usually, the interest rate of a loan against property is lower when you use a residential property as collateral.
What are the end uses of a loan against property?
The funding from a loan against property has no defined end-use restrictions. It is essentially a high-value loan that you are free to use as you want. This includes debt consolidation, renovation or purchase of a home, paying medical bills, and so on.
What is the difference between a home loan and loan against property?
A home loan is specifically used to purchase or construct a residential property. Meanwhile, a loan against property allows you to borrow funds by mortgaging an existing residential or commercial property. In the case of loans against property, you can use the loan amount for various purposes, such as business expansion or personal needs.
How is my eligibility for a loan against property calculated?
Your eligibility for a loan against property is determined on the basis of your CIBIL score, monthly salary or income, property value, and debt-to-income ratio. You can use a loan against property eligibility calculator to know how much you can borrow and apply accordingly.
Can I get a loan against property without income proof or ITR?
Yes. While it depends on your lender to provide you with the required credit, it is possible to get this loan without income proof or income tax returns (ITR). For this, you might be asked to furnish bank account statements for the last six months and pay the applicable processing fee.
What should my CIBIL score be if I want to apply for a loan against property?
The credit score requirement for any credit instrument depends on the lender. However, a score of 750 and above is considered to be ideal for securing a loan against property at attractive interest rates.
What is the maximum tenure available under a loan against property?
You can enjoy a tenure of up to 25 years with a loan against property on Bajaj Markets.
Is it mandatory to have a co-applicant for getting a loan against property?
No. Having a co-applicant to get a loan against property is not compulsory. This is subject to your loan eligibility and the lender’s policies. However, do note that having a co-signer can improve your loan eligibility for the loan.
Can NRIs get a loan against property?
An NRI may be eligible to get a loan against property. However, this is dependent on the lender’s policies. Reach out to your chosen loan provider and check their requirements before applying.
What happens when a loan against property is not paid?
When a loan against property is not paid, you may be provided a notice to pay the outstanding amount with a late payment fee. If the default continues for a longer period, the lender may initiate legal action to seize and auction the mortgaged property to recover the outstanding amount. This can lead to the loss of ownership of the property.
