Bajaj Finserv Loan Against Property
Bajaj Finserv Loan Against Property
Bajaj Finserv Loan Against Property (LAP) has emerged as a preferred choice for those looking to get some financial help by mortgaging a property. The NBFC offers LAP with several compelling advantages such as competitive interest rates, flexible repayment options, and swift loan processing. Borrowers can get a Bajaj Finserv Property Loan at an interest rate starting at 8% per annum for as long as 15 years of a repayment period.
Bajaj Finserv Home Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
Bajaj Finserv Loan Against Property Interest Rate
Bajaj Finserv offers competitive and affordable interest rates on Loan Against Property (LAP), making it an attractive option for borrowers looking to leverage their property for financial needs. These rates are designed to be competitive in the market, ensuring cost-effective borrowing solutions while providing flexible repayment options tailored to suit individual financial situations. The Bajaj Finserv loan against property interest rate starts at 8% per annum.
Mentioned below is the Bajaj Finserv LAP 2024 for a better understanding of a prospective customer:
| Rate Package | Rate of Interest |
|---|---|
| Home Loan | 7.25% - 20.00% per annum |
| Loan Against Property | 8% - 14.00% per annum |
Bajaj Finserv Loan Against Property Eligibility Criteria
Checking eligibility for a Loan Against Property ensures that borrowers understand the maximum loan amount they can avail based on their property's value and their financial profile, helping them plan their finances more effectively and avoid unnecessary rejections.
Make sure to go through the given table to understand the Bajaj Finserv loan against property eligibility:
For Salaried Individuals
Age Range (in years)
Minimum Age: 21 years (18 years for non-financial property owners) | Maximum Age: 85 years (at the time of maturity for non-financial property owners)
Nationality
Indian Residents
Minimum Income Earned
Nothing specific
Credit Score
650 or above (preferred)
For Self-Employed Individuals
Age Range (in years)
Minimum Age: 21 years (18 years for non-financial property owners) | Maximum Age: 85 years (at the time of maturity for non-financial property owners)
Nationality
Indian Residents
Minimum Income Earned
Nothing specific
Credit Score
650 or above (preferred)
Bajaj Finserv Loan Against Property Fees and Charges
Banks and NBFCs charge fees and charges on Loans Against Property to cover administrative costs associated with processing the loan application and documentation. These fees also mitigate the risk involved in offering secured loans by assessing property valuations and legal aspects. The Bajaj Finserv loan against property processing fees and other charges can be clearly understood through the table below:
| Processing Fee | Up to 3.54% of the loan amount + applicable taxes |
| Penal Charges | 36% PA |
| Cheque Bounce Charges | Rs. 1,500 per instance |
| EMI Bounce Charges | Up to Rs. 15 lakh: Rs. 500; Rs. 15 lakh - Rs. 30 lakh: Rs. 500; Rs. 30 lakh - Rs. 50 lakh: Rs. 1,000; Rs. 50 lakh - Rs. 1 crore: Rs. 1,000; Rs. 1 crore - Rs. 5 crore: Rs. 3,000; Rs. 5 crore - Rs. 10 crore: Rs. 3,000; More than Rs. 10 crore: Rs. 10,000 |
| Repayment Instrument Dishonour Charges | Rs. 1500 + GST |
| Stamp Duty | As per actuals + GST |
| Foreclosure Charges | For Individual: Nil; For Non-Individual: 4% of the principal amount |
| Part Prepayment Charges | For Individual: Nil; For Non-Individual: 4.72% of the part-prepayment amount |
| Switch Charges for Rate of Interest Change | Up to 2.36% of the principal outstanding |
| CERSAI Charges | Up to Rs. 118 (including taxes) |
Compare Interest Rates on Loan Against Property for Top Banks & NBFCs
Comparing interest rates on Loan Against Property across top banks and NBFCs ensures you secure the most competitive deal tailored to your financial needs. It helps in identifying potential savings on interest costs over the loan tenure and making informed financial decisions. This comparison also allows you to assess additional features, like repayment flexibility and customer service, ensuring a comprehensive evaluation before committing to a lender, so check out the table below:
- Rate of Interest - 8% - 14.00% p.a.
- Processing Fee - Up to 3.54% of the loan amount + applicable taxes
- Rate of Interest - 8% - 14.00% p.a.
- Processing Fee - Up to 3.54% of the loan amount + GST
- Rate of Interest - 10.40% - 12.75% p.a.
- Processing Fee - 1% of the loan amount or Rs. 10,000 (whichever is higher)
- Rate of Interest - 10.85% - 12.50% p.a.
- Processing Fee - 1.50% of the loan amount or Rs. 11,000 (whichever is higher)
- Rate of Interest - 11.35% - 12.85% p.a.
- Processing Fee - 1% of the loan amount
- Rate of Interest - 11.50% p.a. onwards
- Processing Fee - Up to 3% of the loan amount + applicable taxes
Documents Required For Bajaj Finserv Loan Against Property
No financial institution will lend you money for any reason without verifying the KYC documents. Hence, it is important to go through the Bajaj Finserv loan against property documents required list given below and arrange for the same before applying for a LAP scheme from the lender:
| For Salaried Loan Applicants | Proof Of Identity: Voter ID Card, Aadhaar Card, Passport PAN Card, Etc
Proof Of Address: Recent Electricity Bill, Phone Bill, Ration Card
Proof Of Income: Salary Slips For 3 Months, Bank Account Statements For 6 Months, Recent ITR/ Form 16
Property Documents: Approved Plan, Title Deeds, No Encumbrance Proof, And So On
Other Documents: Duly-Filled Application Form With Recent Passport-Size Photograph, Processing Fee Cheque, Appointment Letter |
| For Self-Employed Loan Applicants | Identity Proof: Voter ID Card, Aadhaar Card, PAN Card, Passport
Address Proof: Latest Electricity Bill, Phone Bill, Ration Card
Income Proof: ITR/ Form 16 For 3 Years, Profit And Loss Account Statements And Balance Sheets For 3 Years, Savings Account Statement/ Current Statement Of The Business Entity For 6 Months, Business Profile, Form 26AS
Documents Of Property: Approved Plan, Title Deeds, No Encumbrance Proof, Etc.
Other Documents: Duly-Filled Application Form With Recent Passport-Size Photograph, Processing Fee Cheque, Declaration And Documents Mentioning The End Use Of The Loan, Partnership Deed If The Business Entity Is In Partnership, And The List Of Stakeholders |
How to Apply for a Bajaj Finserv Loan Against Property
So, if you have finally made up your find to move ahead with the Bajaj Finserv loan against property apply online procedure, then follow these steps:
Apply Now on the BASIC Website
Visit the official website of BASIC Home Loan and click on the Apply Now section
Choose ‘Loan Against Property’
Opt for the ‘Loan Against Property’ option under ‘Tell us about your requirements’ on the next displayed page
Enter Your Details
Fill in the details on the online form and click ‘Next’
Our Expert Will Reach Out to You
The BASIC Home Loan team will then contact you for further process in applying for a Bajaj Finserv Home Loan Against Property
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