What are the property types you can take a loan against property for?

Your loan agreement contains all details related to the interest rate on your loan against property. For a fixed-rate loan, the interest rate remains standard throughout the loan tenure.You can get the loan by offering a residential, commercial or industrial property as collateral. Usually, the LAP loan interest rate is lower when you use a residential property as collateral.

How is my eligibility for a loan against property calculated?

The loan against property eligibility depends on your CIBIL score, monthly salary or income, property value, and debt-to-income ratio at the time of applying. You can use a loan against property eligibility calculator to know how much you can borrow and apply accordingly.

Is there an application fee for a loan against property?

No, a borrower looking to secure a LAP loan does not have to pay an application fee. However, other charges, such as processing fees and penalties, will be applicable.

Is it possible to apply for a loan against property if it is a joint property?

Yes, it is possible to apply for a LAP loan on a jointly owned property as collateral. In fact, some financial institutions recommend the same, and it increases your chances of approval.

What are the purposes for which I can avail a LAP?

You can get the loan for any purpose, such as debt consolidation, renovation or even buying a home. A loan against property comes with no restrictions, allowing you to use the loan amount as you want.

Can NRIs avail loans against the property?

Yes, as a non-resident citizen, you can get a loan by mortgaging your property. However, this depends on the lender. So, check the terms and conditions applicable for NRIs before opting for a LAP.

What are the foreclosure charges for a loan against property?

The foreclosure charges on your loan depend on the terms set by the lender. Generally, lenders levy a certain percentage of the outstanding amount as a foreclosure fee, and the percentage depends on the time when you are foreclosing your account.However, as per RBI rules, a lender cannot levy any foreclosure charges if the loan has a floating interest rate. Remember, this is only applicable if you do not use the funding for business expansion.

Loan Against Property

Q: What are the end uses of a loan against property?

The funding from a LAP has no defined end-use restrictions. It is essentially a high-value loan that you are free to use as you want.

Q: Can I avail a loan against property without income proof or ITR?

Yes, it is possible to get this loan without income proof or income tax returns (ITR). However, you will need to furnish bank account statements for the last six months and pay the applicable processing fee via a cheque. Remember that this depends on the lender you choose.

Here’s all you need to know about Loans Against Property available on Bajaj Markets

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Business Owner

✓ Loan Against Property from ₹2 Lakhs to ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 9.24% Apply Now

You can borrow amounts as high as ₹15 Crores with the help of a loan against property on Bajaj Markets by mortgaging your property. These affordable loans are available at interest rates starting from 9.24% p.a. with flexible repayment tenures ranging up to 25 years. You can also benefit from an easy application process, quick processing, complete transparency, and a hassle-free borrowing experience.

Fees and Charges

Provided below are lending partners on Bajaj Markets that offer loans against property, along with their offered interest rates and tenures.

Our Partners	Minimum Interest Rate	Maximum Loan Amount/Tenure
Bajaj Housing Finance Limited	10.10% p.a.	Amount: ₹5 Cr Tenure: 18 Years	Apply Now
HFFC	14.00% p.a.	Amount: ₹40 Lakhs Tenure: 20 Years	Apply Now
ICICI Bank	10.60% p.a.	Amount: ₹5 Cr Tenure: 15 Years	Apply Now
India Shelter	15% p.a.	Amount: ₹50 Lakhs Tenure: 20 Years	Apply Now
LIC Housing Finance	9.45% p.a.	Amount: ₹15 Cr Tenure: 15 Years	Apply Now
PNB Housing Finance Limited	9.24% p.a.	Amount: ₹15 Cr Tenure: 20 Years	Apply Now
Shriram Housing Finance	14.75% p.a.	Amount: ₹10 Cr Tenure: 25 Years	Apply Now
Shubham Housing Finance	13.90% p.a.	Amount: ₹20 Lakhs Tenure: 15 Years	Apply Now

*Disclaimer: The interest rates and associated charges can vary for each lending partner and are subject to change.

Loan Amount

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Tenure

Months
Years

Rate of Interest

Monthly EMI

at % interest rate for months

Total Amount Payable

Principal Amount

Total Interest Amount

Apply Now

Year	Principal	Interest	Balance

Features & Benefits

High Loan Amount

You can avail financing of up to ₹15 Crores with an LTV ratio of up to 80% of the property’s current market value.

Flexible Repayment Tenure

Repay your loan at your convenience with flexible repayment tenures ranging up to 25 years.

Attractive Interest Rates

The interest rate of loans against property starts from 9.24% p.a., enabling you to borrow the required amount at affordable rates.

Simple Eligibility Criteria

The easy-to-meet eligibility criteria allow you to secure the loan with ease, even during unexpected financial emergencies.

Easy Application Process

The end-to-end digital application minimises the hassles of physical visits to lenders, helping you get a loan from the convenience of your home.

Eligibility Criteria and Documents Required

The eligibility requirements may differ from one lender to another. Provided below are some common criteria for your reference.

Age Limit - 21 to 70 years
Income - Minimum ₹30,000 per month
Work Experience - Minimum 1 year for salaried and 2 years for self-employed individuals

The eligibility requirements may differ from one lender to another. Provided below are some common criteria for your reference.

In addition to this, it is also vital to keep the required documents handy to make the application process simpler and faster. Here are some documents you might be asked to submit when applying for a loan against property.

1. For Salaried Individuals

Identity Proof: PAN card, Aadhaar card, voter ID, passport, or any other government-issued credential
Address Proof: Voter ID, Aadhaar card, passport, utility bill, ration card, or any other government-issued proof
Income Proof: Salary slips of the last 3 months, latest ITR, and Form 16
Property Documents

2. For Self-employed Individuals

Identity Proof: Aadhaar card, voter ID, passport, or any other government-issued credential
Address Proof: Voter ID, Aadhaar card, passport, utility bill, or any other government-issued proof
Income Proof: Bank statements of the last 6 months, audited financials of the company, and ITR filed by the business
Property Documents

How to Apply for a Loan Against Property on Bajaj Markets

Follow these simple and easy steps to apply for a loan against property on Bajaj Markets

Click on ‘Apply Now’ on this page
Fill in your personal and professional details
Select the desired loan amount and preferred tenure
Submit the application form

After your application has been submitted, it will be reviewed and verified. Following this, an executive will contact you for further proceedings.

Why Choose Bajaj Markets for Loan Against Property?

Quick Verification

The completely digital process allows your application to be reviewed and verified within minutes.

Minimal Paperwork

The online documentation process makes applying for a personal loan on Bajaj Markets easy and convenient.

Complete Transparency

You can be assured of zero hidden charges and complete transparency when you apply for a loan on Bajaj Markets.

You can get the loan by offering a residential, commercial or industrial property as collateral. Usually, the interest rate of a loan against property is lower when you use a residential property as collateral.

The funding from a loan against property has no defined end-use restrictions. It is essentially a high-value loan that you are free to use as you want. This includes debt consolidation, renovation or purchase of a home, paying medical bills, and so on.

Your eligibility for a loan against property is determined on the basis of your CIBIL score, monthly salary or income, property value, and debt-to-income ratio. You can use a loan against property eligibility calculator to know how much you can borrow and apply accordingly.

Yes. While it depends on your lender to provide you with the required credit, it is possible to get this loan without income proof or income tax returns (ITR). For this, you might be asked to furnish bank account statements for the last six months and pay the applicable processing fee.

The credit score requirement for any credit instrument depends on the lender. However, a score of 750 and above is considered to be ideal for securing a loan against property at attractive interest rates.