Overview of a Loan Against Property in Coimbatore
A Loan Against Property (LAP), a type of mortgage loan, is useful for availing of sizeable funds by pledging one’s property as a collateral. Banks and financial corporations lend substantial loan amounts under LAP schemes at relatively low interest rates, which makes Loan Against Property a preferred credit option in Coimbatore, among other cities.
The loan amount depends on multiple factors, such as the age and value of the property, credit score and credit history of the borrower, source of income, loan tenor, etc. A Loan Against Property can be leveraged for various end-uses, such as expanding a business, undertaking a home renovation project, and debt consolidation.
Features and Benefits of a Loan Against Property in Coimbatore
Multiple Collateral Options
Lenders accept residential and commercial types of properties as a collateral for granting Loans Against Property, allowing you easy access to sizeable funds.
Top-up and Balance Transfer Facility
Most lenders provide facilities such as Loan Against Property Balance Transfer and a top-up to attract borrowers. This facility allows the borrowers to transfer the outstanding loan amount to a new lender for a lower rate of interest or change their borrowing terms.
Funds in Bank in 72 hours*
A Loan Against Property is the ideal solution for all urgent financial needs. Apply today and receive the funds in just 72 hours* from when you submit the documents.
Easy Eligibility Criteria
The Bajaj Housing Finance Loan Against Property has easy-to-meet eligibility criteria. This helps applicants meet the eligibility parameters with any additional hassles.
Calculate Your Loan Against Property EMI
Repayment Schedule
Documents Required for Loan Against Property in Coimbatore
We offer a Loan Against Property, also known as a mortgage loan, with minimal documentation. Submit the following to enjoy instant approval:
For Salaried Applicants
- Aadhaar Card/PAN Card or Form 60 (mandatory)
- Address proof
- Last 3 months’ salary slips
- ITR documents
- Bank account details of the last 3 months
- Documents of the property to be mortgaged
For Self-Employed Applicants - Aadhaar Card/PAN Card or Form 60 (mandatory)
- Address proof
- Bank account details of the last 6 months
- Business vintage proof
- Documents of the property to be mortgaged
- Aadhaar Card/PAN Card or Form 60 (mandatory)
- Address proof
- Bank account details of the last 6 months
- Business vintage proof
- Documents of the property to be mortgaged
Note: This list is indicative. Additional documents may be needed during loan processing.
Eligibility Criteria for a Loan Against Property in Coimbatore
Following are the eligibility criteria for salaried and self-employed applicants seeking to avail of a Loan Against Property with Bajaj Housing Finance:
For Self-Employed Applicants
- Should ideally have a CIBIL score of 750 or above
- Indian resident with the age between 23 and 70 years**
- Establish a minimum of 3 years of business vintage
For Salaried Applicants
- Should ideally have a CIBIL score of 750 or above
- Indian resident with the age between 23 and 60 years**
- A minimum of 3 years of working experience
**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
Steps to Apply for a Loan Against Property in Coimbatore Online
Follow these simple steps to apply for a Loan Against Property in Coimbatore:
- Navigate to our Loan Against Property application form.
- Fill up financial and personal details
- Enter information about the property to be mortgaged.
- Generate OTP and enter it.
- Proceed to fill in the financial details.
- Click ‘on Submit’.
Once you submit the application form, our representative will contact you within 24 hours* to take you through the next steps.
*Terms and conditions apply.
If you are planning to leverage your property to meet business or housing expenses, you can consider applying for a Loan Against Property in Coimbatore with Bajaj Housing Finance by filling out a simple application form online.
You can apply for a Loan Against Property in Coimbatore and expect disbursal into your account within 72 hours* after document verification.
Given below is the list of documents*** you need to submit to apply for a Loan Against Property in Coimbatore:
For Self-Employed Applicants:
- PAN Card or Form 60 (mandatory)
- Aadhaar Card or Voter’s ID Card
- P&L statement
- Latest ITR
- Property documents
For Salaried Applicants:
- PAN Card or Form 60 (mandatory)
- Aadhaar Card or Voter’s ID Card
- Last 3 months’ salary slips
- Property documents
***This list is indicative. Additional documents may be required during loan processing.
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