Know the features, benefits, and eligibility of Aye Finance’s Loan Against Property (MicroLAP) available on Bajaj Markets.
You can fulfil your financial needs with the Aye Finance Mortgage Loan, offered under its MicroLAP category. MicroLAP is a subtype of Loan Against Property designed for small businesses and individuals seeking medium-ticket funding. You can get a loan against property for an amount up to ₹15 Lakhs, at an interest rate starting from 22% p.a. (reducing). You get a flexible repayment tenure of up to 15 years.
Aye Finance Mortgage Loan interest rates and charges are as listed below:
Charges |
Details |
Interest Rate |
Starting at 22% p.a. |
Processing Fee |
2% of loan amount + applicable GST |
Prepayment Charges |
4% to 5% + GST |
Foreclosure Charges |
*Disclaimer: The aforementioned interest rates and charges are subject to change at the lender’s discretion.
Leverage the value of your property to secure funding of up to ₹15 Lakhs
Repay comfortably over a tenure of up to 15 years, tailored to suit financial planning
Benefit from reducing balance interest rates starting at 22% p.a.
Designed to help small business owners and individuals access medium-sized loans conveniently
Quick disbursement in your bank account
Submit only essential financial documents, including informal proofs where applicable
All charges are clearly communicated upfront with no hidden fees
Apply independently without the need for a guarantor
Get assistance at home or business premises from Aye Finance staff
Engage via branches, field staff, or the central contact centre for convenience
Ensure you meet the following criteria before applying for the Aye Finance Loan Against Property (MicroLAP):
You must be between 18 and 59 years of age.
You must have a CIBIL score of 680 or higher. Applicants with no credit history (NTC) are also considered.
You should own a freehold, identifiable property to pledge as collateral.
You must have at least 2 years of work or business experience.
Your annual income or business turnover should be ₹10 Lakhs or more.
A co-applicant is required, though only basic KYC is needed.
You must provide valid residential proof.
In addition to fulfilling the given eligibility criteria, you will need to submit the following documents while applying:
Any two of the following:
Utility bills (telephone/electricity)
CST/VAT/GST registration
Shop & Establishment registration
Firm ITR
Firm PAN card
Udyam Certificate
Registered Partnership Deed
Any one of the following:
Aadhaar card or Passport
Driving Licence
Bank passbook with photograph
Utility bills (latest 3 months) - Electricity or Water Bill
Registered property deeds
Proof of residence issued by local authorities
Follow these simple steps to apply for the Aye Finance Mortgage Loan (MicroLAP) online on Bajaj Markets:
Click on the ‘CHECK OFFER’ tab on this page
Provide your personal and property-related details
Select Aye Finance Ltd. from the list of available lenders
Enter the desired loan amount and preferred tenure
Submit your application online
Once submitted, a representative will contact you to guide you through the next steps and complete the loan process.
The Aye Finance Mortgage Loan is offered under its MicroLAP category, which is a subtype of Loan Against Property. It is designed for small businesses and individuals who need medium-ticket loans.
While a standard Loan Against Property can go up to several crores, MicroLAP focuses on smaller loan amounts. At Aye Finance, you can borrow between ₹2 Lakhs and ₹15 Lakhs under this facility.
A reducing interest rate means the interest is charged only on the outstanding principal balance. As you repay the loan, the interest portion decreases over time.
Once approved, the loan amount is typically disbursed within 15 working days.
You need to provide a freehold, identifiable property as collateral to secure the loan.
This loan is best suited for small business owners and individuals who need medium-ticket funding and want the flexibility of longer tenures, up to 15 years.