Bajaj Housing Finance LAPBT Eligibility Criteria

You can use a Loan Against Property to fulfil all your financial obligations. If you are a salaried individual, you can use your loan for the following purposes:

1. Mortgage buyout/Balance Transfer of existing loan

2. Consolidation of debt

3. Managing wedding expenses

4. New investments

5. Financing education

The eligibility of a Loan Against Property is calculated by taking into the following parameters in account:

1. Age

2. Income

3. Property value

4. Existing obligations, if any

5. Stability/Continuity of employment/Business

6. Past borrowing track record.

The entire lending process is swift and hassle-free.

Yes, your property needs to be insured for fire and other calamities during the tenure of your loan. You will have to provide proof of insurance every year or whenever required.

Refer to the section, Bajaj Loan Against Property Balance Transfer Eligibility Criteria.

Yes, you can. All the co-owners of the property will be considered as co-applicants of the loan.

You can avail of a Loan Against Property for the following:

1. Self-Occupied Residential
2. Rented Residential / Commercial
3. Vacant Residential / Commercial
4. Shared Property

You can not avail a Loan Against Property for the following:

1. Plot
2. Property outside city/municipality limit
3. Property with tenants for more than 5 years (with no renewed rent agreement)
4. Property with structural flaws that requires substantial repairs
5. Property constructed on agricultural land/farm land
6. Illegal properties
7. Property already mortgaged with other banks
8. Residential property used for commercial purposes without approval from competent authority
9. Under construction property except NRP transaction
10. Industrial property
11. Schools or hostels
12. Hotel