Overview
A Loan Against Property (LAP) is a secured loan through which borrowers can avail of funds by keeping a residential or a commercial property they own as collateral. With a Loan Against Property, you can avail of a sizeable sanction, and repay the sum over a tenor of up to 17 years with a low interest rate starting at 9.75%*p.a. for self-employed applicants. Enjoy hassle-free processing with minimal documentation, doorstep-pick-up service and receive the funds in your account in as few as 72 hours* from document submission.
MortBuzz Home Loan Solution offers Loans Against Property to fund expenses such as business expansion, home renovation, and debt consolidation.
Features and Benefits of a Home Loan
Attractive Interest Rates
MortBuzz Home Loan Solution offers competitive Loan Against Property interest rates for salaried, professional, and self-employed individuals.
Loan Amount of Rs.5 Crore*
Benefit from sizeable funding as high as Rs.5 Crore* or more, basis eligibility. The final loan amount depends on your profile and the property being mortgaged.
Quick Disbursal in 72 hours*
A Loan Against Property is the ideal solution for urgent financial needs such as business expansion or debt consolidation. Apply today and receive the funds in just 72 hours* from when you submit the
End-Use Flexibility
The loan amount can be used for a variety of funding requirements, such as debt consolidation or business expansion.
Tenor of up to 17 Years
Enjoy comfortable repayment with the option to choose a tenor of up to 17 years
Interest Rates on a Loan Against Property
Get a Loan Against Property from MortBuzz Home Loan Solution at interest rates starting as low as 9.75%* p.a. for self-employed applicants. To know more about the interest rates in detail
Eligibility Criteria for a Loan Against Property
Individuals must meet our minimum property loan eligibility criteria to qualify for a loan. Meeting all eligibility requirements can increase your chances of fast approval and hassle-free financing.
| Eligibility Requirements | For Salaried Applicants | For Self-Employed Applicants |
|---|---|---|
| Employment status | Must be employed with a public or a private sector company, or an MNC (minimum of 3 years of experience) | Must be able to showcase steady income from an enterprise with a vintage of 5 years or more |
| Age | He/she must be between 28 and 60 years** of age | He/she must be between 25 and 70 years** of age |
| City of residence and property ownership | Delhi, Mumbai, Bengaluru, Ahmedabad, and Pune, among others | Delhi, Mumbai, Bengaluru, Ahmedabad, and Pune, among others |
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit is subject to change, depending on the property profile.
Check your maximum property loan eligibility with the help of our designated online Loan Against Property Eligibility Calculator to decide on the loan amount.
Documents Required for a Loan Against Property
With minimal paperwork, MortBuzz Home Loan Solution keeps the list of documents required for a Loan Against Property short. Keep all the necessary documents required for a property loan handy before applying to enjoy streamlined loan processing and improve your chances of quick approval.
| Eligibility Requirements | For Salaried Applicants | For Self-Employed Applicants |
|---|---|---|
| Proof of identity and address | Aadhaar Card, Voter ID, Passport, Driving License, Utility Bills, or any other government-approved photo identity and/or address proof | Identity and address proof are the same for both self-employed and salaried applicants |
| Mandatory documents | PAN Card or Form 60 | PAN Card or Form 60 |
| Proof of employment | Identity card issued by the employer | Document of business ownership, such as partnership agreement, and registration certificate |
| Proof of income | Latest salary slips, bank account statement for the last 3 months, Income Tax Returns | Latest salary slips, bank account statement for the last 3 months, Income Tax Returns |
| Property documents | Copy of documents of the property to be mortgaged, Title documents as required by the legal team | Same as for salaried applicants |
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit is subject to change, depending on the property profile.
Check your maximum property loan eligibility with the help of our designated online Loan Against Property Eligibility Calculator to decide on the loan amount.
Processing Fees and Other Charges on a Loan Against Property
MortBuzz Home Loan Solution offers Loan Against Property at nominal fees and charges. To know more about these charges, click here.
Below are some of the general fees and charges that may be applicable to your mortgage loan.
| TYPE OF FEE | CHARGES APPLICABLE |
|---|---|
| Processing Fees | Up to 4% of loan amount + GST as applicable |
| Penal Charges | to know more about Penal Charges |
Home Loan Against Property Transfer FAQs
A Loan Against Property (LAP) is a secured loan where a borrower puts up a residential or commercial property as a collateral to get a loan. The funds provided through a LAP can be used to consolidate your existing debt or for the purpose of business expansion. Due to their secured nature, Loans Against Property are usually offered at lower interest rates than personal loans.
A Loan Against Property (LAP) is a viable financial option for those seeking sizeable funds at a relatively low interest rate. Those who own a property and are looking for funds urgently can opt for this solution and secure funds easily.
We offer Loans Against Property of Rs.5 Crore* or higher at attractive interest rates, based on your eligibility and the market value of your property. Our flexible repayment tenor can stretch up to 17 years.
You will need to provide your personal, financial and property-related details to apply for a Loan Against Property. To apply for a loan with Bajaj Housing Finance, you need to click on ‘Apply Now’ on this page and fill in the required details. Next, provide your income details to check the best deals available. Once you have submitted the application form, a representative will get in touch with you and guide you through the next steps.