Loan against property for salaried
Following are the documents required for salaried applicants:
- Latest salary slips
- Bank account statements of the previous 3 months
- PAN card/ Form 60 of all applicants
- ID proof
- Address proof
- Document of the property to be mortgaged
- IT returns
- Title documents
Loan against property for self employed
Following are the documents required for self-employed applicants:
- Primary bank account statements of the previous 6 months
- PAN card/ Form 60 of all applicants
- Address proof
- ID proof
- Income documents like ITR/ financial statements, etc.
- Documents of the property to be mortgaged
- Title documents
*Please note that the list of documents mentioned above is indicative. During loan processing additional documents may be required.
Documents required for loan against property
The Bajaj Finserv Loan Against Property is a hassle-free financial instrument that you can avail whenever you need funding by pledging an eligible property as collateral. To apply for a loan against property just follow two simple steps:
- Fulfil the easy-to-meet loan against property eligibility criteria
- Submit the simple and basic documentation required
Eligibility criteria for salaried applicants
To avail our loan against property as a salaried individual, you need to meet the following criteria:
-
Nationality
Resident of India, owning property in the following BHFL locations:
Delhi & NCR, Mumbai & MMR, Chennai, Hyderabad, Bangalore, Pune, Ahmedabad
-
Age
You must be between 25 years (18 years for non-financial property owners) to 85 years* (including non-financial property owners)
* 85 years* of age or less at the time of loan maturity -
Employment
Salaried employee of any private, public or multinational organization
Eligibility criteria for self-employed applicants
To avail the loan against property for self-employed individuals, you must meet the following criteria:
-
Nationality
Resident of India, owning property in the following BHFL locations:
Bangalore, Indore, Nagpur, Vijayawada, Pune, Chennai, Madurai, Surat, Delhi & NCR, Lucknow, Hyderabad, Cochin,Mumbai, Jaipur, Ahmedabad -
Age
You must be between 25 years (18 years for non-financial property owners) to 85 years* (including non-financial property owners)
* 85 years* of age or less at the time of loan maturity -
Employment
Self-employed individual with a steady income from business
Frequently asked questions for loan against property eligibility criteria
With our offering, the maximum tenor for loan against property is 15 years. This allows you to opt for a comfortable repayment plan.
To avail our mortgage loan, you require residential, commercial or industrial properties or a residential plot with no construction.
All you need to keep in mind about how to use a loan against property is that the funds can be used to for any personal and business expenses, without restrictions.
Yes, and a loan against property co-applicant can be a family member with a stellar financial profile.
Family members such as siblings, spouse, parents and unmarried daughters can be co-applicants.
We do not lay down the minimum monthly income required to avail the loan, but you must meet all the eligibility terms.
Here’s the age criteria for salaried applicants:
- Age: Minimum age: 25 years* (18 years for non-financial property owners)
- Maximum age: 85 years* (including non-financial property owners)
*Age of the individual applicant/ co-applicant at the time of loan maturity.
*Higher age of co-applicant may be considered up to 95 years basis 2nd generation (legal heir) meeting age norms and to be taken as co-applicant on loan structure.
The maximum amount with our loan against property is of Rs. 5 Cr* and higher for self-employed and up to Rs. 10.50 crore* for salaried individuals.
No, an NRI cannot avail a loan against property.
Flexi loans give access to a sanction that you can borrow funds from whenever you need them and prepay what you owe freely.
