Loan Against Property for Self-Employed
Eligibility Criteria for Self-Employed Borrowers
The Bajaj Housing Finance eligibility criteria for selfemployed applicants who wish to avail of a property loan are as follows:
1. The applicant should ideally have a CIBIL score of 750 plus
2. The applicant should be an Indian resident
3. The applicant should be between 25 and 70 years** of age
4. The applicant should demonstrate business continuity of at least 5 years
Bajaj
Benefits of Loan Against Property for Self-Employed
Loan against property offers several benefits for self-employed individuals. These benefits include the ability to access substantial funds, flexible repayment terms, and lower interest rates compared to other types of loans. By securing a loan against their property for self employed, borrowers can unlock financial opportunities and enhance their business growth potential.
Flexible Repayment Tenor
Loan Amount of Rs.5 Crore*
Larger loan amounts than traditional business loans.
Disbursal in 72 hours*
Customized repayment plan tailored to individual needs.
Get Loan Against Property disbursed in 72 hours* post document submission.
Loan Amount and Tenure Considerations
The loan amount and tenure are crucial factors to consider when applying for a loan against property. Loan providers typically assess the value of the property and the borrower's financial capacity to determine the maximum loan amount. Borrowers should carefully weigh their financial needs and repayment capabilities when deciding on the loan tenure, which is the time frame for repaying the loan.
Loan Amount Depends on the value of the property and borrower's creditworthiness. Loan Tenure Upto 17 years depending on the borrower's financial situation and the loan provider's policies.
Application Process and Documentation Requirements
The application process for a loan against property typically involves submitting a loan application, providing supporting documents, and undergoing credit and income verification. Loan providers may require various documents, such as proof of income, property ownership documents, and financial statements. Self-employed borrowers should prepare their documentation carefully and ensure they meet the specific requirements of the loan provider.
Submit Application
Navigate to the Loan Against Property application form on our official website
Document Verification
Loan provider reviews submitted documents to assess eligibility.
Credit and Income Verification
Assessment of credit history and income to determine repayment capacity.
Loan Approval
Upon successful verification, the loan provider approves the loan with terms and conditions.
BAJAJ HOUSING FINANCE LIMITED
Cerebrum IT Park, 5th Floor B2 Building,
Holy Cross Rd, Kalyani Nagar, Pune, Maharashtra 411014
Phone number : +91 8698010101
Email id: bhflwecare@bajajfinserv.in
