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Bajaj Home Finance Loan Against Property

Bajaj Home Finance Mortgage Loan Interest Rates 2022

Last Updated 18th Feb 2022

Bajaj Home Finance is one of the largest HFC in the country that offers the lowest rates on loan against property. Currently, the bank offers loans starting from 8.00% with quick approval and online process. The bank offers special features and attractive rates for different income and occupation groups. Some of the key features of Bajaj Home Finance Loan against property are mentioned below: Check Best Offers

Interest Rates 8.00% to 9.00%
Processing Fee Upto 0.10%
Max Tenure 20 years
Lowest EMI per lakh ₹ 836
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 33 and Max 58 years for Salaried
Min 25 and Max 70 years for Self Employed
    Apply for Loan Against Property @ 6.90%* Get upto ₹ 1,000* Voucher

    Bajaj Home Finance Loan Against Property

    Bajaj Home Finance offers loan against property to meet your business and personal needs against the mortgage of your existing residential or commercial property. Taking a loan from Bajaj Home Finance has the following benefits:

    • Hassle-free process for documents collection.
    • Bajaj Finance offers Flexible Loan tenure upto 20 years.
    • Balance transfer & top-up loan facility.

    Bajaj Home Finance Loan Against Property Fees and Other Charges

    Along with Bajaj Home Finance Loan against Property Rates, Bajaj Home Finance also charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on Bajaj Home Finance Loan against Property Loan is 0.10%. This fee is charged by Bajaj Home Finance to maintain the applicant’s loan account and to process the loan application.
    • Advocate's fee for property search and title investigation report.
    • Valuer's fee for valuation report.
    • Stamp duty payable for Loan agreement and mortgage.
    • Property insurance premium.
    • CERSAI Registration Fee of ₹ 50 + GST up to ₹ 5 Lakh limit and ₹ 100 + GST for limits above ₹ 5 Lakh.

    Bajaj Home Finance Property Loan Interest Rate for Business Man or Self-Employed Person

    The interest rate for mortgage loans for Self-employed people are listed in the table:

    Interest Rate for Self-Employed for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 9.00%
    ₹ 30 Lakh - ₹ 50 Lakh 9.00%
    ₹ 50 Lakh - ₹ 75 Lakh 9.00%
    Above ₹ 75 Lakh 9.00%

    Steps to Apply for Bajaj Home Finance Loan Against Property

    Apply With MyLoancare

    To get the best offers on SBI Loan against Property, you can apply for a Loan against Property at MyLoanCare. The online marketplace helps you compare the best offers, check eligibility, calculate EMI. To apply for a loan against property click here

    Apply With SBI Website

    • You can also apply for SBI Loan against Property with SBI through online and offline modes.
    • To apply for a loan offline, visit the official SBI bank branch and fill out the application form along with the required documents for a loan against property.
    • The bank will then complete the verification process and will sanction the loan on loan approval. Once the loan is approved, you will receive the amount in your bank account.
    • To apply online for SBI Loan against Property online, visit the official website of SBI and navigate to Loan Against Property.
    • Before applying, now check your eligibility for SBI Loan against Property. If you are satisfied and have cross verified all the details, fill out the application form and upload the required documents.
    • On successful verification, the bank will sanction the loan amount in 10-15 days.

    Compare Bajaj Home Finance Loan Against Property Interest Rate with Top Banks

    Bajaj Home Finance offers multiple schemes for loan against property at affordable interest rates. However, you must compare SBI and other bank’s home loan rates before applying:-

    Particulars Bajaj Home Finance SBI HDFC
    Interest Rate 8.00% - 9.05% 8.80% - 13.10% 7.65% - 8.80%
    Processing Fees Upto 0.10%
    Upto 1.00%
    Max ₹ 50,000
    Upto 0.50%
    Min ₹ 7,500
    Loan Tenure 20 Years 10 Years 15 Years
    Maximum Loan Amount ₹ 4 Cr ₹ 7.50 Cr ₹ 5 Cr
    Age Min 25 and Max 70 years Min 18 and Max 70 years Min 24 and Max 65 years
    Benchmark Rate PLR RLLR PLR
    Lowest EMI Per Lakh ₹ 836 per lakh ₹ 1,256 per lakh ₹ 936 per lakh
    Bajaj Home Finance Floating Rate on Loan Against Property

    As on 17 May, 2022, Bajaj Home Finance offers the lowest rate starting at 8.00%. Bajaj Home Finance Loan against property rates have been dropped by 1%, from the earlier rate of 9.00% with effect from 28 Apr, 2022.

    Bajaj Home Finance Mortgage Loan Interest Rates
    Bajaj Loan Against Property 8.00% - 9.00%
    Bajaj LAP balance transfer 9.00%
    Bajaj Loan Against Property
    Loan AmountCurrent Loan against Property Rates
    Upto ₹ 30 Lakh 8.00%
    ₹ 30 Lakh - ₹ 50 Lakh8.00%
    ₹ 50 Lakh - ₹ 75 Lakh8.00%
    Above ₹ 75 Lakh 8.00%

    Bajaj Home Finance Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    28 Apr, 2022 8.00%
    07 Oct, 2021 9.00%
    04 Oct, 2021 9.00%
    16 Jul, 2021 9.00%
    21 Jun, 2021 9.00%
    07 Jun, 2021 9.00%

    Factors Affecting Bajaj Home Finance Loan against Property Interest Rates

    Some of the factors that impact Bajaj Home Finance Loan Against Property rates are listed as follows:

    • Loan amount: Property loan rates in Bajaj Home Finance depend upon the loan amount you apply. You can get a minimum loan of ₹ 5 Lakh from Bajaj Home Finance.
    • Your Net Monthly Income: Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for a higher loan amount.
    • Type of loan opted for: Bajaj Home Finance offers differential rates for customers' different profiles, for fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.
    • Type of property: Typically, loans against prime residential properties can be availed easily at the lowest rates compared to loans against commercial and industrial properties.
    • Your profession: Bajaj Home Finance may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman. A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

    Bajaj Home Finance Loan Against Property Eligibility Criteria

    Bajaj Home Finance has detailed criteria to determine a potential borrower’s eligibility for mortgage loans. Some of the key criteria are:

    Eligibility Criteria Details
    Age 33 to 58 years
    Minimum Income ₹ 25,000
    Loan Amount ₹ 5 Lakh to ₹ 5 Cr
    Minimum years of business existence 1 years
    Minimum work experience 1 years
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio)

    Bajaj Home Finance Mortgage Loan Interest Rate and EMI Calculator

    You can use an online Bajaj Home Finance Loan against property EMI Calculator to calculate loan EMIs at different rates of interest and check and compare the lowest EMI per lakh on Loan against Property. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly higher in a longer tenure loan than a short tenure loan.

    Loan Against Property Top up, Transfer in Bajaj Home Finance

    Bajaj Home Finance offers mortgage loan balance transfer from another bank, subject to your meeting other eligibility criteria of Bajaj Home Finance at an affordable interest rate, higher loan amount and convenient loan tenure. Bajaj Home Finance loan against property balance transfer helps you make your loan repayment convenient and opt for a beer customer service. Current loan against property balance transfer rates in Bajaj Home Finance are 8.00%. Along with that, you can also avail of additional top-up on your loan against property.

    Bajaj Home Finance Loan Against Property Documents Required

    For Self-Employed

    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 2 years
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile
    For Salaried employee
    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 2 years
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
    Property documents
    • Registered Sale Deed/ Conveyance/ Lease Deed
    • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
    • Latest House Tax Return/ Receipt
    • Approved Building Plan from Municipal Corporation

    Check Loan Against Property Interest Rate in Major Banks

    FAQs

    What is Bajaj Home Finances loan against property interest rate?

    Bajaj Home Finance offers loan against property at a rate of 8.00% with the lowest EMI of ₹ 836. If you are currently paying a higher interest rate than the Bajaj Home Finance rate, you can opt for a balance transfer of loan to Bajaj Home Finance.

    Did Bajaj Home Finance Loan against property rates drop?

    Yes, Bajaj Home Finance loan against property rates has decreased by 1% from the previous rate of 9.00% to 8.00%. The lowest mortgage rates of Bajaj Home Finance are effective from 28 Apr, 2022.

    How to increase my eligibility on Bajaj Home Finance Mortgage loan?

    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get a loan.

    Can I foreclose my Mortgage loan? What are the charges applicable?

    Yes, you can foreclose your Bajaj Home Finance loan against property anytime you want with Nil foreclosure charges.

    What is the maximum loan tenure I can opt under Bajaj Home Finance Property loan?

    Bajaj Home Finance offers a maximum tenure of 20 years to repay your loan.You can choose the tenure for your LAP loan as per your convenience and repayment ability.

    What is the benchmark rate applicable for Mortgage loan?

    The benchmark rate applicable for property loans in Bajaj Home Finance is PLR

    Can I transfer my Loan against Property from another bank to Bajaj Home Finance?

    Yes, Bank gives you the facility to transfer your existing loan with a hassle-free process. Loan balance transfer to Bajaj Home Finance offers you to pay lower EMIs and save money and enables you to choose better customer service, if you are not satisfied with your existing bank. Current Balance transfer rates in Bajaj Home Finance are 8.00%.

    What is Bajaj Home Finance mortgage loan processing fees?

    The loan processing fee charged is 0.10% of the total loan amount.

    What security do I need to provide for Bajaj Home Finance Mortgage Loan?

    Bajaj Home Finance requires a registered mortgage of the property against which the bank will provide you a loan.

    • Property on which you intend to take a loan is not vacant land, has an approved map plan and is in a municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
    • Your total EMIs on all loans and credit cards (from Bajaj Home Finance and other banks) are no more than 60 - 70% of your net monthly income.
    • You have not defaulted on loans or credit card dues to Bajaj Home Finance and other banks and all EMI's have been paid. Note that Bajaj Home Finance can see the record or status of your EMI defaults to all banks and NBFC’s in India and not just to Bajaj Home Finance in your CIBIL report. Estimate your CIBIL score for free for free by using CIBIL score estimate calculator
    • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan application
    • If you are self employed, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available

    Are prepayment or foreclosure charges applicable on Bajaj Home Finance loan against property?

    You can prepay a loan against property without any penalty or charges in case:

    • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
    • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

    Bajaj Home Finance Loan Against Property Reviews 5/5  by 1 customers
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    5/5.0
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    5/5.0
    Saikrishna, Hyderabad
    Reviewed on 24th Jun 2021
    5 / 5 stars
    Bajaj Home Finance Loan Against Property Availed in Jun 2021

    Good service nice and speedy delivery by Bajaj Housing Finance limited.Read more...

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    Bajaj Home Finance Loan Against Property News - May 2022
    • 2022-01-19 : Bajaj Finance Q3 Net up 84% on Income Growth.
      Bajaj Finance Ltd (BFL) has reported an 84 per cent year-on-year (YoY) jump in third-quarter standalone net profit. The growth has been seen on the back of healthy growth in net interest income, fees and commission income and other operating income.
    • 2021-10-27 : Bajaj Finance Posted a Net Profit of 53.5%
      Leading non-banking financial company has reported a net profit of 53.5% to Rs 1,481 crore in the second quarter ending September 30, 2021.
    • 2021-05-10 : Reduced loan against property rates for Bajaj Home Finance
      Bajaj Home Finance cut its loan against property rates. The new loan against property rates starts from 9%. The revised rates will be effective from 10 May 2021. The cut in mortgage loan will help LAP borrowers.
    *Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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