Find the best deals on Loans Against Property through Bajaj Housing Finance

A loan against property is a secured credit instrument that allows individuals to obtain a substantial fund by mortgaging their immovable assets with the lender. However, knowing what a loan against property is will not help individuals to access the best possible deals available in the market. Thus, finding a reliable financial institution is essential. 

Leading financiers such as Bajaj Housing Finance extend a high-quantum loan against property at a competitive interest rate along with additional benefits. Individuals can go through the following segment to learn about its features and benefits.

What are the top features and benefits of a loan against property

Take a look at the following vital features and benefits of a loan against property extended by selected financial institutions: 

  • High-value loan at a nominal interest rate 

Several financial institutions offer a high-value loan against property at a nominal interest rate. However, the sanctioned loan amount may vary depending upon applicants’ eligibility and the market value of the mortgaged property. The rate of interest also differs between salaried professionals and self-employed applicants. Individuals can check the interest rate, including the loan against property eligibility criteria, before approaching the lender for borrowing this loan without hassles. 

  • Convenient repayment tenor 

Selected financial institutions ease the loan repayment hassles with a flexible and extended repayment window, which ranges up to 18 years. This helps individuals opt for their best-suited tenor as per their affordability.

  • Quick processing 

Leading financial institutions sanction a high-value loan amount against simple eligibility criteria and minimal documentation, which expedite the loan application process. This allows borrowers to receive funds within the least possible time and easily meet financial contingencies. 

  • Loan against property balance transfer

Willing borrowers can transfer their outstanding balance from their existing financial institution to the leading HFCs to enjoy affordable monthly instalments. Besides, individuals can also avail additional funds under the top-up loan facility. They can utilise this high-value top-up loan to finance personal as well as professional monetary requirements. 

  • Easy account management and doorstep services

Several financial institutions allow their customers to manage their loan account online and at their convenience. Moreover, individuals no longer need to visit a financial institution to submit their documents and apply for a loan against property. Several financial institutions also extend doorstep services to pick up the required documents from desired locations provided by the applicants. 

Besides all these features and their benefits, individuals may look for financial institutions providing pre-approved offers. These offers streamline the loan application process, saving time and effort. These pre-approved offers are available on loans against property, home loans, etc. Willing candidates can check their pre-approved offers by submitting their names and contact numbers. 

Apart from these particular facilities extended by financial institutions, borrowers can also enjoy loans against property tax benefits under Section 37(1) and 24(B). Individuals can claim such tax benefits depending upon the usage of the loan amount sanctioned.

How to apply for a loan against property online?

After knowing what is loan against property and the facilities extended to make it more beneficial for applicants, follows the steps mentioned below to enjoy such benefits with ease:

Step 1: Visit the official portal of the preferred financial institution and select the loan against property application form. 

Step 2:  Enter the personal such as name, contact details etc. Provide financial information to get access to the best possible deals based on the financial status and submit.

A representative from the financial institution will contact the applicant to guide him with further procedures. Cooperate with him for property and identity verification and submit necessary documents for quick processing of the loan application. 

Understanding what a loan against property is and finding a reliable financial institution is essential in availing the best possible loan schemes in the market. Additionally, keep the documents ready beforehand to avoid inconvenience when applying for this loan.