Know How To Apply For A Loan Against Property From Bajaj Housing Finance

KNOW HOW TO APPLY FOR A LOAN AGAINST PROPERTY FROM BAJAJ HOUSING FINANCE

WHAT iS LAP? ● Loan secured against a residential or commercial property. ● Less risky for lenders than unsecured loans, as property can be sold in case of default. ● Loan against property gets easily approved and the amount is large. ● Both salaried and self-employed individuals can apply.

LAP ELIGIBILITY If you are salaried, you should be: ● Between 24 and 60 years of age. ● Employed with a reputed company, like MNC. ● Indian resident.

If you are self-employed, you should: ● Be between 24 and 60 years of age. ● Have steady income flow for 6 months to a year, till loan application. ● Be Indian resident or own property in India.

TIPS TO SECURE LAP EASILY Interest Rate - Research and compare lenders to land attractive interest rate and maintain a good credit score for negotiation.

Tenure – Choose long tenure for affordable EMIs and short ones for quick repayment.

Loan Amount – Compare loan to value ratio of different lenders to get maximum loan amount, but only what you can repay.

MORE TIPS TO SECURE LAP SMOOTHLY

Property Condition – Ensure your property is in good shape and the paperwork is in place.

Loan Agreement – Check for adverse clauses, hidden costs, and penalties.

Find out what happens if you miss payments or default.

Processing and disbursal time – Make sure you get the loan amount by the time you need it.

LAP DOCUMENTS FOR SELF-EMPLOYED BORROWERS Proof of income - Documents showing the business to be 5 years old at least, ITR, account statements, tax audit report.

Proof of identity – Aadhaar Card, driving license, Government employee ID, Voter ID, PAN Card, Passport.

Birth date proof: Driving License, SSC mark sheet, birth certificate, Aadhaar Card.

Proof of address: Telephone bill, gas bill, property tax receipt, voter ID, electricity bill.

LAP DOCUMENTS FOR SALARIED BORROWERS Proof of income – Form 16, pay slips, account statements.

Proof of identity – Aadhaar Card, driving license, Government employee ID, Voter ID, PAN Card, Passport.

Birth date proof: Driving License, SSC mark sheet, birth certificate, Aadhaar Card.

Proof of address: Telephone bill, gas bill, property tax receipt, voter ID, electricity bill.

Thank You !

Would Love to Hear From You BAJAJ HOUSING FINANCE LIMITED Cerebrum IT Park, 5th Floor B2 Building, Holy Cross Rd, Kalyani Nagar, Pune, Maharashtra 411014 Tel. +91 8698010101 Email Id: bhflwecare@bajajfinserv.in GMB Profile:- https://g.page/r/CeEl71lfnAGZEAE Website:- https://www.bajajhousingfinance.in/