Loan Against Property Bajaj Finserv

  • Loan ID : N095
  • 29
  • 0

A loan given against the mortgage of property is called Loan against Property. This is one of the cheapest retail loans after Home Loans.

Loan Against Property Features and Benefits

Mortgaging existing property is a great way to get a loan at low interest rates to meet your current financial needs without actually selling off the same.

Line of credit/Flexi Loan

  • Flexibility to transact (prepay and drawdown) in your loan account as per your cash flow requirements.
  • Line of Credit is a facility where you are given a “credit line” and during the term of the facility. Maximize savings by paying interest only on the utilized amount.
  • The monthly installment for Line of Credit will consist only of the interest amount and will not have a principal component on a monthly basis.
  • No limit to the number of pre-payments that can be made in a day
  • The principal amount of loan is to be repaid at the end of the tenure of the facility.

Products Covered

We have a range of products to cover your varied needs. You can avail of our Loan Against Property for any of the following:

  1. Loan Against commercial property
  2. Loan Against residential property
  3. Loan for purchase of commercial property
  4. Line of Credit loan
  5. Lease, Rental & Discounting

Preapproved offers:

Get preapproved offers with minimal documentation and quick processing at your doorstep. These offers may include a top-up loan or even reduction of rates from time to time.

Property Search Services

Searching for the perfect property is a task that requires proper guidance, at each step. We want to ensure that you get the best possible assistance right from search of the property to purchase of the property. Click here for more details

Quick Processing

Hustle free loan disbursal process with minimal documentation. Your requirements would be completed in a within 72 hours.

Customized Insurance schemes

Customer can avail insurance cover on the loan availed by Bajaj Finance against payment of one time premium. This premium payment can be funded as part of loan amount to ease burden on customer.

Loan Against Property : Minimum Requirements

A Loan against Property eligibility with Bajaj Finserv includes the following scenarios:

  • You are an Indian Resident
  • You are at least 25 years of age when the loan is sanctioned
  • You are a self-employed professional with a regular source of income

Documents Required for Loan Against Property

  • Application form
  • KYC
  • IT Returns & Balance Sheet & P/L Account statement for the last 2 years.
  • Business Continuity Proof for 5 years.
  • Bank Account Statements for the last 6 months.
  • Copy of property paper to be mortgaged.

*Kindly note that the list of documents mentioned is indicative. During loan processing additional documents may be asked for the same will be appropriately communicated to you as and when required.

Loan Against Property: Fees and Charges

In order to check your Business Loan interest rate with Bajaj Finserv, we have a Business Loan calculator for you. Other charges applicable are:

 Charges applicable
Processing feesUpto 1% of the loan amount will be deducted at the time of disbursal of approved loan amount
EMI bounce chargesRs.1000 will be charged in the subsequent month for every bounce
Penal interest2.00% p.m. overdue charges will be levied basis 360 days per year

Foreclosure Charges

Borrower Type: Interest TypeTime Period (Months)Foreclosure chargesValidation
NA>14%

1) Foreclosure charges will be applicable on the current POS outstanding for Term Loan

2) Foreclosure charges for Line of Credit will be calculated on the sanctioned amount

3) Foreclosure charges for Flexi saver will be calculated on the Dropline amount

Part prepayment charges

Borrower Type: Interest TypeTime Period (Months)Part payment chargesValidation
NA>1Nil

1) Part payment made should be more than 1 EMI

2) The full and/ or part prepayment can be made by the borrower only after clearance of first monthly instalment by the borrower

3) The above prepayment charges are not applicable to Flexi and Line of Credit loans availed by the Borrower, unless otherwise communicated by the lender to the Borrower at a subsequent date

  • Part payment made should be more than 1 EMI.
  • Charges not applicable for Line of credit (Flexi Pure) & Flexi Saver (Dropline Flexi)

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