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Loan Against Property for Debt Consolidation

Keeping up with multiple EMI payments is cumbersome and can cost you more than you may realise. Seeking a Loan Against Property with the intent to consolidate all your ongoing debt obligations is a cost-sensitive approach to servicing your debts.

The Bajaj Housing Finance Loan Against Property for debt consolidation is a secured loan granted to you against a property as collateral. Use your loan sanction to close your existing EMI obligations and limit your repayment outflow to just one consolidated EMI.

The benefit of borrowing a Loan Against Property for debt consolidation from us is that you enjoy competitive interest rates and save on your total interest outflow by using the loan sanction to foreclose your other loans. Apply today and receive the money in your account in just 72 hours* from the time of loan approval and verification.

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Understanding Debt Consolidation

Simply put, debt consolidation is combining all your existing EMI pay-outs into one EMI – effectively consolidating numerous debts into just one. By choosing to consolidate your debts, here are the benefits you stand to get:

  • You can close your other debts sooner and save substantially on your interest if no additional charges are applicable.
  • You can eliminate the hassle of making numerous EMI pay-outs and keeping track of each of them. With a loan for debt consolidation, you subsume your other EMIs into one. Consolidating your debt allows you a better control over your finances and interest outflow with a simplified repayment schedule.
  • You can also use this opportunity to enhance your credit score by closing your other loan accounts on time, ensuring that your repayment record remains spotless. It will only help to seek better loan terms in the future.

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Types of Loans for Debt Consolidation

You have two types of debt consolidation loans to choose from – a secured type and an unsecured type. Unsecured loans include personal loans, among others, while the latter includes Loans Against Property. By choosing a Loan Against Property, you gain more in terms of:

  • A sizeable loan sanction
  • A competitive interest rate
  • A longer repayment tenor

With all things considered, a Bajaj Housing Finance Loan Against Property makes for an ideal choice for a debt consolidation loan. To understand more about the interest rates associated with our Loans Against Property, click here.

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Loan Against Property for Debt Consolidation: Documents Required

To benefit from a Bajaj Housing Finance Loan Against Property, here are all the documents you may need.

For Salaried and Professional Borrowers For Self-Employed Borrowers
Identity card issued by the employer Valid document of current business ownership, such as partnership agreements, registration certificates, etc.
Latest salary slips and financial records for the last 3 months Primary bank account statements for the last 6 months and financial statements such as Balance Sheet, and P&L Statements
Income Tax Returns Income Tax Returns
Property Title Deed Property Title Deed

Please note that this list of documents is only indicative, and we can request additional documentation after assessing your loan application and profile.

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Loan Against Property Loan EMI Calculator

Loan AmountRs. 2000000

20L21Cr

Tenor1Months

1216

Interest Rate1%

115

Your EMI is Rs. 0

0.00%

Total Interest

0.00

0.00%

Principal Amount

0.00

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Loan Against Property for Debt Consolidation: Loan Eligibility

Meet the below criteria to apply for a Loan Against Property and receive your loan approval within 24* hours of application verification.

Salaried individuals Self-employed individuals
Age** should be between 28 and 58 years Age should be between 25 and 70 years
Applicants to be employed in a private/public/multinational organisation  Applicants to have a regular income source
Applicants must have a minimum work experience of 3+ years Applicants must have a minimum business vintage of 5+ years in current enterprise

**The maximum age is considered as age at the time of loan maturity.

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Loan Against Property for Debt Consolidation: How to Apply

Initiate your debt consolidation journey by applying for a Loan Against Property with Bajaj Housing Finance. Our application process is efficient and direct, saving you both time and manual effort. Please follow the prescribed steps to complete your application.

  1. Visit the Loan Against Property application form and proceed to enter your personal, employment, and contact details.
  2. Select the location of your property, along with your income and annual turnover details, if applicable.
  3. Submit the form and complete your application process.

A Bajaj Housing Finance representative will contact you to help you complete the rest of the process. This will include documentation and property verification.

*Terms and conditions apply

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