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Bajaj Finserv Lease Rental Discounting Loan in Udaipur

Interest Rate starts from 11.75%

Bajaj Finserv Lease Rental Discounting Loan Interest rates in Udaipur

Please Find the Detailed Bajaj Finserv Lease Rental Discounting Loan Interest Rates

Up To 21,00,00,000
Commercial Properties11.75%

Features of Bajaj Finserv Lease Rental Discounting Loan Udaipur

Type Features
Processing FeeUp to 2%
Pre Closure Charges3.0%
Part Payment ChargesAllowed
Min Tenure5 Years
Max Tenure11 Years
Min Age25 Years
Max Age60 Years
Min Loan AmountRs.10,00,00,000/-
Max Loan AmountRs.50,00,00,000/-

Bajaj Finserv Lease Rental Discounting Loan Udaipur Charges

Type Charges
Penal Interest2% Per Month
Duplicate Statement ChargesFree
Insurance CoverUpto Loan Amount
Inspection ChargesFree
Legal Opinion Valuation ChargesFree
Bounce Cheque ChargesRs.1000/-
Photocopy DocumentsFree
Charge For Exchanging E C S MandateNil
Repayment Schedule ChargesFree
Loan Re Schedulement ChargesFree
N O C Issuance ChargesFree

Documentation For Lease Rental Discounting

  • Filled Application form
  • Identity Proof (PAN CARD)
  • Address Proof
  • Latest 3 months Payslips
  • Job Continuity Proof
  • 2 Passport Size colour Photographs
  • Co-Applicant identity proof, Address Proof
  • Co-Applicant relationship Proof and Photograph
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Property Related documents
  • Filled Application form
  • Identity Proof
  • Address Proof
  • Last 2 years Income Tax Returns
  • Professional/Self employed existence proof for more than 3 years
  • 2 Passport Size colour Photographs
  • Co-Applicant identity proof, Address Proof
  • Co-Applicant relationship Proof and Photograph
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Property Related documents
  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification
  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)
  • Passport
  • Telephone bill (BSNL/MTNL)
  • Electricity bill
  • Title deed of property
  • Rental agreement
  • Driving license
  • Election ID card
  • Photo-credit card (with last two month statements)
  • Latest salary slip
  • Current dated salary Certificate with latest form 16.
  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
  • Form 16
  • Relieving letter
  • Appointment Letter (for last two months)
  • Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
  • Bank statements of latest 2 months
  • 3 months bank passbook
  • Min of 15 years of Link documents of Property
  • Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
  • Property Sanction plan
  • BRS/LRS copies (if required, any)

Bajaj Finserv Lease Rental Discounting Loan FAQ's

About Bajaj Finserv

Bajaj Finserv, a part of Bajaj Holdings & Investments Limited, is an Indian financial services company focused on lending, asset management, wealth management and insurance. The company through its joint ventures and subsidiaries employs over 20,000 employees and has established a nationwide presence across over 1400 locations.

The company is currently engaged in consumer finance businesses, life insurance, and general insurance and has plans to expand its business by offering a wide array of financial products and services in India. Apart from financial services, Bajaj Finserv is also active in wind–energy generation.

Bajaj Finserv Highlights

Ranked amongst the top 25 best places to work in Asia by the Great Place to Work (GPTW) Institute
10 Best Multinational Workplaces in Asia 2015
Best Small & Medium-sized Workplaces in Asia 2015 (50-500 Employees)
25 Best Workplaces in Asia 2015 (500 + Employees)
Awarded in the category of 25 Best Workplaces in Asia 2015 (500 + Employees)
Won the CIO 100 Innovation award for two products - EMI Card and Flexisaver.

Lease Rental Discounting Can Be Used For Many Purposes Like Below

For Business Expansion

For Construct a New Block

For Construction of a New House

For Future Saving Plans

For Interiors of Home

For Lumsum Amount on Lease Rentals

For Personal Investments

To Renovate Home

Why Lease Rental Discounting?

Most of the families prefer to have their own house whether big or small. There is a significant difference staying in a self owned house than in a rented shelter. House is the most costly asset owned by middle and upper middle class families and it has emotional value. Affording own house with actual money is not always possible. Even though a person has stable income, years of savings are required to own a house in this current market. A Home loan answers the problems of those people who are willing to have their own home but do not have sufficient money to do that. You can now own your dream home by availing Home loan.

Home loan is normally for purchase of a new House/ Flat/Plot or renovation/ renewing of existing residential or commercial properties. Home loans are provided by Banks and registered finance companies. In Indian market there are several Banks/ HFCs providing Home loans at competitive interest rates. Home loan is always secured against the property that you buy. In case you are unable to repay the loan amount the lending bank will have right to take possession of the home.

In case of a Home loan entire lump sum amount will be sanctioned and disbursed initially based on the credit worthiness. You can plan your housing loan repayment tenure varying from 10-30 years and is repayable in form of EMIs. The rate of interest applicable is linked with Bank's base rate. You have a option to chose floating interest rate or fixed interest rate for the loan amount. For those who want the EMI amount to be fixed and are intending to plan their payments accordingly can opt for fixed interest rate. Those who are ready to take minimal risk and intend to avail the advantage in the long run can avail floating rate of interest. Floating rate of interest is more beneficial in the long run.

Expert Advice

Best Practices for Home Loan

Buyer has to ensure sufficient due diligence before finalizing the property. Certain aspects like builder credibility, availability of required approvals, and legal clearance of property to be checked before buying a property. Though it costs little extra it is advisable to get the assistance of experts for buying a property. This will help in avoiding costly mistakes.
Calculate and plan the total expenditure involved in purchasing a property. Apart from the cost of the property there are other related expenses like stamp duty, loan application charges, processing fee, valuation fee, legal fee etc which need to be meet from own funds of the buyer. Property buyer to invest around 20-25% of the total cost apart from loan. It is to be ensured that sufficient cash reserves are available to meet these expenses.
Based on your earning and repaying capacity decide the home loan amount to be taken. The various factors to be taken into consideration include your income, fixed obligations, remaining work experience, future growth prospects, future expenses like children education, marriage etc, other source of income, job related risks etc. This thorough analysis will help in taking right decision. This will help in not making a mistake of taking small loan when your income supports higher loan and taking high loan when your income do not support a huge amount.
Improve your credit history. Clearing of all overdue before applying for home loan will helps to improve the credit score. It is to be noted that your loans will not go into 30-60 or 90 days delinquency which reduce the credit score. Loan dues to be paid before the credit card payments which have higher impact on the credit score then the credit card payment. Prioritize the payments.
Do hold all the documentation required for processing the loan in originals and copies. This will help in easy verification of documents and fast processing. Any change in the employment, changes in pay structure etc during the loan process to be intimated to the concerned officer who helps in avoiding disconnect.
Save the best possible amount from your income. This will help you in having the large down payment. During the tenure of loansave the income, which can be used for prepay of principal amount. Ensure that there are no prepayment charges before making prepayment.

Things not to do for Home Loan

Do not avail any short term loans like vehicle loans, Home Loans, credit cards before going for a home loan. Any additional loan taken will reduce your Home Loan eligibility.
Do not be very optimistic about your future income and make a choice of high loan amount. This will increase your worries and you make feel unsecured.
Do not change your employer without knowing the impact on the approval of your Home loan.
Do not get into a contract with emotions, do proper research before taking a property and ensure it is right fit for you.
Do not jump into a conclusion, do the required homework before applying for home loan.
Do not forget to read the small print, ensure to read all the terms and conditions before signing the agreements.
Do not forget to make the payment of instalments. Ensure sufficient balance in the account to meet the EMI on a monthly basis.
Do not apply for a home loan only just you have eligibility. First select the property get the technical and legal cleared then go for the home loan. In case if you have applied for a home loan and it is sanctioned based on your income, subsequently property is not eligible under Bank norms you will end up losing the processing fee.

Lease Rental Discounting Vs Mortgage Loans

Lease Rental Discounting Mortgage Loan
Home loan can be availed for own/purchase of new property (Home or Flat). Mortgage loans will be provided based on already owned property.
Under Home Loan, loan can be availed only for purchase of new property. There is no restriction on mortgage loan usage. It can be used for any purpose.
Housing Loan will be provided for max of 25 years, some banks can extend it to 30 years also. Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India.
Home Loans interest will be as low as 9.95% to max of 11.5%, these interest rates will be subject to change as per market condition. Interest rate will be very from 12% to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans.
Home Loan customers can be eligible for Income tax deduction of Rs 1.00 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5 lakh under section 24, only if the value of the property purchased should not exceed Rs 40 lakh. Also, it could result in maximum savings of Rs 30,000-31,000. If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. However, if an individual is using it for personal end use, like marriage or medical expenses, the interest is not tax deductible as per income tax guidelines.
Loan can be availed up to max of Rs. 1.0 Cr under home loan, for real estate project funding it can be up to Rs. 20.0 based on the bank risk appetite. Mortgage Loans can be avail up to Rs. 15.0 cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms.
There is no prepayment penalty for the housing loan customers, when the loan will be cleared by the own funds. There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines.
Part pre Payments will be allowed in Housing Loans. There were no part prepayment will be allowed for Mortgage loans.
Housing Loan can be availed with joint eligibility by Husband and wife or blood relatives. Mortgage loans also avail with the joint eligibility as company and director or blood relatives.
You can avail max of 80% of the property value as a home loan as per your eligibility criteria. In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property.
You can avail a top loan facility on your home loan. Top up facility will be vary from bank to bank internal guidelines.

About Udaipur

Udaipur is a royal city that had been the capital of Mewar rulers for centuries. The romantic city of Udaipur has a legend behind its origin and it goes like this. Once, Maharana Udai Singh happened to meet a holy sage when he was on his hunting expedition in the Aravalli Hills. The Sage counseled the King to establish a kingdom in the fertile valley that would be well-protected by the elevated Aravalli Hills.

Subsequently, Maharana Udai Singh laid the foundation stone of Udaipur in 1557 A.D. Chittorgarh was the previous capital of the Rajput kingdom of Mewar. Maharana Udai Singh was a successor of the Sisodias, who claimed to be the descendants of the Sun God. The Sisodias are believed to be the oldest ruling family in the World. Amongst the warrior clans, Sisodias are recognized as the most powerful ones in Rajasthan.

Another reason for shifting the capital from Chittorgarh to Udaipur was constant attacks of enemies. Udaipur continued to be the capital of Mewar, till it became the princely state of British India in 1818. When India got independent in 1947, the Maharaja of Udaipur granted the place to the Government of India. At that time, Mewar was merged into the state of Rajasthan. In the present date, Udaipur enjoys a favorable position on the maps of Rajasthan. Udaipur is known for its picturesque surroundings and its royal past. Various ancient monuments, massive palaces, architectural temples and beautiful lakes fascinate people to visit the ancient land of the Royalty.

Places To Be Visited In Udaipur

City Palace

    City Palace was constructed in the year 1559 by Maharana Udai Mirza Singh. The palace is situated on the banks of Pichola Lake. The palace is a blend of European, Medieval and Chinese styles of architecture. City Palace houses 11 magnificent palaces and they were all constructed during various periods and by various rulers. The size of the palace is awe inspiring with the courtyards, terraces, pavilions, hanging gardens and a lot more. Everything about the palace is magnificent be it the architecture, the antiques inside and the exclusive paintings hanging on the walls.

Jag Mandir

    A 17th century structure that stands gloriously amidst Lake Pichola on the Jagmandir Island, Jag Mandir is an excellent place to visit on Udaipur tour. Jagmandir is an impressive set of structures with the central building being called Jagmandir, which can be recognized by the marble-made elephants positioned outside. It is a three-storied structure and includes sections like Gul Mahal, an elegant façade, a Garden Courtyard and the Darikhana on its northern side, the Bara Patharon ka Mahal (palace of the 12 stones), the Zenana Mahal – a southern extension to the Gul Mahal and the Kunwar Pada ka Mahal.

Bagore Ki Haveli

    Bagore Ki Haveli is situated near Pichola Lake. The 18th century construction was built by Amir Chand Badwa, Chief Minister at the Royal Court of Mewar. The Haveli became the residence of Maharana Shakti Singh of Bagore in the year 1878 and hence the name Bagore Ki Haveli. This was converted into museum retaining the royal touch to the building. The museum presents the culture of Mewar. The antique collections include the stuff used by Rajputs such as jewellery boxes, hand fans, copper vessels and so on. The massive building has over 100 rooms and looks splendid with its unique style of architecture.

Kumbhalgarh Fort

    Kumbhalgarh Fort was constructed by Maharana Kumbha in the 15th century. One of the specialties of the fort is that it is the birthplace of the famous warrior and King of Mewar, Maharana Pratap. The near invincible fort is the most highest and strongest of forts in Rajasthan. The fort was a challenge to the greatest of kings. The fort stands formidably on 1180 m high ridge. The fort is protected and surrounded by a thick wall of approximately 15 kms long. This is the second longest wall in the world and the first is known the world over – The Great Wall of China.

Lake Pichhola

    Another man made wonder in the city dominated by nature, Lake Pichola was created in 1362 AD. Rana Udai Singh II extended the lake in 16th century. The picturesque lake is surrounded by huge hills, magnificent palaces, temples and bathing ghats. The islands in Lake Pichola offer various tourist attractions and hence by cruising in Lake Pichola, you are sure to have a whale of a time. Sunset views are stunning. Boat cruise offers lovely views of the town, particularly in the evenings as you watch the sun go down on your eyes, you will find the city lit up. The palaces look stunning with the lights on and it is a great view from the lake.

Sajjan Garh (Monsoon Palace)

    If you are partial to the beauty offered by nature more than man made wonders, you are sure to love Sajjan Garh. The palace is small but the views are stunning. The palace is not maintained well but the sunset view from here is awesome. The palace was constructed by Maha Rana Sajjan Singh in 1884. The aim of the king was to construct an observatory here to observe the arrival of monsoon as well as predict weather conditions. Owing to his untimely demise, the work was not completed. However, the views from here fascinate you beyond words. Nearly 1000 feet above the sea level, the views of Udaipur from here are breathtaking.

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