Apply for Bajaj Finance Loan Against Property (LAP) up to Rs. 10.50 crore at low interest rates ranging from 9% - 14% p.a. Opt for a customised mortgage loan for education, wedding, business expansion or emergency. With attractive Bajaj Finserv Loan Against Property interest rates, both salaried & self-employed can get affordable and high value property loans.
On Bajaj Finserv Official Website
Updated: 29-05-2024 02:49:09 PM
| LAP loan amount | Salaried: Up to 1 crore
Self-employed: Up to 10.50 Crore |
| Interest rate | 9% – 14% |
| Loan tenure | 15 years |
| LTV % | 70% -75% |
| Processing fee | Up to 3.54% |
| Part Prepayment | 4.72% |
| Foreclosure charge | 4.72% of prepaid amount |
You can also check Commercial Property Loan and check interest rates from Top Lenders.
| Bank/HFC | Lowest Interest Rate |
| Bajaj Finserv LAP | 9% – 14% |
| SBI Loan Against Property | 10.10% – 11.65% |
| HDFC Loan Against Property | 9.50% – 11.00% |
| Tata Capital LAP | 10.10% |
| PNB Housing LAP | 9.25% – 12.45% |
| Kotak Bank LAP | 9.15% – 10.50% |
| Loan Against Property Interest Rates on Floating Basis | |
|---|---|
| Salaried Borrowers | 9% – 14% |
| Self Employed | 9% – 14% |
| Fee Type | Applicable Charge |
|---|---|
| Processing Fees | up to 3.54% |
| Charges for EMI Bounce | Rs. 1500 |
| Mortgage Origination Fees (one-time) | Up to 6000 |
| Penal Interest | Up to 3.5% per month |
| Loan Statement | NIL |
| Interest & Principal Statement | NIL |
| Mortgage EMI bounce | Up to Rs 3000 |
| Documentation Charges | Up to Rs. 2360 |
| Foreclosure Charges | Floating loans: Nil |
| Pre-payment Charges | Floating loans: Nil
Fixed Term Loans: 4.72% Flexi & Flexi Hybrid: 4.72% |
Salaried individuals, self-employed business owners and self-employed professionals including Doctors and chartered Accountant can apply for Bajaj Loan Against Property. Primarily, following eligible criteria for loan against property will apply.
Salaried
1. Applicant should be an Indian Resident.
2. Age criteria for application: 25 to 65 years
3. The applicant should be employed with a private, public or MNC with a minimum of 3 years of work experience.
4. LAP Tenure: 2 to 15 years
5. Max Loan Amount: Up to 1 crore
Self-employed
1. Applicant should be an Indian Resident.
2. Age criteria for application: 25 to 85 years
3. The applicant should have a valid and acceptable proof of income.
4. LAP Tenure: Up to 15 years
5. Max Loan Amount: Up to 10.50 crore
The self-employed applicants can apply Bajaj LAP on following locations-
Delhi NCR, Mumbai, Thane, Pune, Aurangabad, Surat, Ahmedabad, Indore, Kolkata, Udaipur, Hyderabad, Chennai, Vizag, Bangalore and Cochin.
Professionals:
Chartered Accountants
1. The applicant must have an active Certificate of Practice (CoP) for a minimum of 4 years.
2. The applicant must own a house/ office at one of the Bajaj Finserv approved locations.
Doctors
1. The doctor should a resident Indian citizen and the minimum age for application should be 26 years.
2. The applicant should hold a recognized medical practitioner’s degree in Homoeopathy, Ayurveda, Dentistry and others.
3. The applicant should have a relevant number of working experience:
| Qualification | Work experience (Minimum years post qualification) |
|---|---|
| Super Specialist Doctors (MD/MS/DM) | 3 years |
| Graduate Doctors (MBBS) | 3 years |
| Dentists (MDS/BDS) | 5 years |
| Homeopathic and Ayurvedic Doctors (BAMS/BHMS) | 6 years, must own a house |
| Homeopathic Doctors (DHMS) | 15 years, must own a clinic |
Bajaj Finserv Loan Against Commercial/ Residential Property:
Bajaj Finserv Lease Rental Discounting:
Bajaj Finserv Flexi Hybrid:
Bajaj Finserv Line of Credit
Bajaj Finserv Loan Against Property to Doctors:
Bajaj Finserv Loan Against Property for Chartered Accountants
Salaried individuals, self-employed professionals and business owners are required to submit following documentation:
Documents for Salaried
Documents for Self-employed:
Documents required from Chartered Accountants
Documentation required from Doctors
You can conveniently calculate EMI for Bajaj Finserv LAP with the help of free Bajaj Finance Loan Against Property EMI Calculator.
All you need to do is click on the EMI Calculator tab under Financial Tools and enter following three parameters to get the result:
Reach out Bajaj Finserv through call or internet banking.
Call customer Helpline on
08698010101
020 3957 5152
Give a missed call at:
+91-9810852222
SMS at: +91-9227564444
E-mail: [email protected]
Corporate Office:
6th floor,
Bajaj Finserv corporate Office
Off Pune- Ahmednagar Road
Viman Nagar
Pune- 411014
Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.
You can use Bajaj Finserv LAP for personal or business needs such as:
Bajaj Finserv considers following factors to calculate applicant’s eligibility for Loan Against Property:
Yes, the property to be mortgaged has to be insured against fire and other calamities during the loan tenure. Bajaj Finserv will ask for the proof of insurance every year or when required.
Any residential or commercial property (location in the cities mentioned by Bajaj Finserv) is eligible for a LAP, provided title of property is also clear. There should not be any ongoing litigation or attached mortgage.
Yes, all the co-owners of the property are considered as co-applicants for Bajaj Property Loan.
Bajaj Finserv offers loan against following property types:
The maximum repayment tenure can go up to 20 years, depending on the loan and applicant type.
No. The loan can only be availed by the applicants residing or having property in the locations specified by Bajaj Finserv.
Yes, you can opt for loan prepayment in part or full after one month of loan disbursal. Currently there are no charges for loans on floating basis. However up to 2% charge is applicable for repayment of fixed interest rate LAPs.
You can reduce the EMI amount by:
At present, Bajaj Finance LAP Interest Rate ranges between 9% – 14%.
Bajaj Finserv education loan without collateral is reckoned among the best lenders for non collateral education loans due to its affordable interest rate and easy loan terms.
Some lenders may offer you a loan against property without having income proof if your requirement is low and you have a genuine explanation for not having income proof.
