Bajaj Finserv Mortgage Loan Interest rates in Asabsol
| upto To 21,00,00,000 | |
|---|---|
| Commercial Properties | 12.50% |
| Industrial Properties | 13.00% |
| Residential Properties | 11.50% |
Loan To Value (LTV) For Bajaj Finserv Mortgage Loan in Asabsol
| upto To 21,00,00,000 | |
|---|---|
| Commercial Properties | 55.00% |
| Industrial Properties | 45.00% |
| Residential Properties | 80.00% |
Features of Bajaj Finserv Mortgage Loan Asabsol
| Type | Features |
|---|---|
| Processing Fee | 2.0% |
| Pre Closure Charges | Non Individual - 4% |
| Part Payment Charges | Allowed |
| Min Tenure | 5 Years |
| Max Tenure | 15 Years |
| Min Age | 25 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.30,00,000/- |
| Max Loan Amount | Rs.21,00,00,000/- |
Bajaj Finserv Mortgage Loan Asabsol Charges
| Type | Charges |
|---|---|
| Penal Interest | 2% Per Month |
| Duplicate Statement Charges | Free |
| Insurance Cover | Upto Loan Amount |
| Inspection Charges | Free |
| Legal Opinion Valuation Charges | Free |
| Bounce Cheque Charges | Rs.2500/- |
| Photocopy Documents | Free |
| Charge For Exchanging E C S Mandate | Nil |
| Repayment Schedule Charges | Free |
| Loan Re Schedulement Charges | Free |
| N O C Issuance Charges | Free |
Documentation For Mortgage Loan
For Salaried Persons
- 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
For Self Employed/Professionals
- 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
Identity Proof For Mortgage Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Mortgage Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Address Proof For Mortgage Loan
- 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)
Income Proof For Mortgage Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Bajaj Finserv Mortgage Loan FAQ's
What is Loan Against Property?
"A Loan Against Property as the name suggests is a loan given against the mortgage of property. Generally speaking, you can avail a loan against property for any of the following: 1. Loan Against Commercial Property 2. Loan Against Residential Property 3. Loan for Purchase of Commercial Property 4. Loan Against Plot 5. Lease Rental Discounting "
How to Apply for a Loan Against Property?
"A Loan against property is for professionals, self-employed, individuals with high net worth, salaried people, Proprietary firms, Partnership firms, Companies (Pvt. /Public Ltd.,) and NRIs - subjected to compliance of Bank’s/RBI guidelines. You can apply online for a loan against property while there are always options to visit the branch or even call or SMS and get the representatives to attend to you at a place and time of your convenience. "
What is the interest rate for loan against property?
Bajaj Finserv has a diversified portfolio for Loan Against Property where you can avail Mortgage Loan Against property, Loan Against Plot, Loan Against Commercial or Residential Property or even a Loan for Purchase of Plot. Bajaj Finserv offers attractive Loan Against Property interest rates with nominal fees and charges. Feel free to use our Loan Against Property EMI Calculator for further estimates.
What are the documents required for Loan Against Property?
Loan Against Property has its own set of documents, eligibility criteria and mortgage requirements. In order to read about documents required for Loan Against Property as well as to check eligibility criteria in detail, please click here
About Bajaj Finserv
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
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Things Keep In Mind While Avail a Mortgage Loan
A mortgage is actually made up of several parts – the collateral you used to secure the loan, your principal and interest payments and insurance.
Since most mortgages last 10 to 15 years of monthly payments, you should understand the how exactly it will works for you.
Type of Collateral You Are Offering
Principal And Interest
The principal is simply the sum of money you borrowed on mortgage.
Interest is what the lender charges you to use the money you borrowed, usually expressed as a percentage called the interest rate.
Principal and interest comprise your monthly payments in a process called amortization, which reduces your debt over a fixed period of time. With amortization, your monthly payments largely go toward paying off the interest in the early years, and gradually reduce the principal later on.
Factors That Affect your Loan Interest Rates
Expert Advice
Best Practices for Mortgage Loan
Things not to do for Mortgage Loan
Mortgage Loans Vs Lease Rental Discounting
| Lease Rental Discounting | Mortgage Loan |
|---|---|
| Lease Rental Discounting (LRD) will be based on the actual rental you are receiving on the property. | Mortgage loans will be provided based on already owned property. |
| There is no restriction on LRD loan usage. It can be used for any purpose. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Lease Rental Discounting (LRD) will be provided for max of 10 years, However it depends on the rental agreement Tenure. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Interest rate will be very from 11.00% to max of 15.00% based on the bank to bank. Generally Lease Rental Discounting (LRD) will be fixed interest loans. | Interest rate will be very from 10.5 % to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| The money received from the LRD will be used for any purpose. There is no end use restriction on the amount. | 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. |
| Loan can be availed up to max of Rs. 20.0 Cr under Lease Rental Discounting (LRD). | Mortgage Loans can be avail up to Rs. 30.0 Cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There will be pre payment changes will be applicable for Lease Rental Discounting (LRD). This will be vary from 1% to 4% as per bank internal guidelines. | 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 based on the internal policies of the banks for Lease Rental Discounting (LRD). | Part/Prepayment will be allowed as per bank internal policies for Mortgage loans. |
| Lease Rental Discounting (LRD) eligibility depends on the type of tenant and credibility of tenant. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| Banks can consider 90% of the Lease Rental value as repayment for loan under the Lease Rental Discounting (LRD) . | 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 Lease Rental Discounting (LRD). | Top up facility will be varying from bank to bank internal guidelines. |
About Asabsol
Asansol located in the Bardhaman district of West Bengal, Asansol is the industrial and coal mining city and also the second largest city after Kolkata in the state. A recent report by a non-governmental policy research body of UK, International Institute for Environment and Development has placed Asansol in the list of hundred fastest growing cities of India.
The place has derived its name from the Asan tree which is a different species of tree found on the embankment of river Damodar and Sol-Bhumi or Sol-land which means a land that is loaded with minerals.This heavily industrialized city is well developed with educational institutions, reasonably high per capita income, housing complexes, proper transport connections, trade and commerce, huge work force as well as industries. Although, in recent times, many of the industries are facing extreme hardships, this place has evolved as an important center for trading.History of this place proves that, Australoid and Dravidian were the original inhabitants of this place.
Other Cities Loan Offers
Places To Be Visited In Asabsol
Churulia
Churulia (17 Km) is hugely famous as the homeland of Bengali poet and freedom fighter Kazi Nazrul Islam. The Nazrul Academy in Churulia preserves calligraphy, medallions and other possessions of the poet. A full week festival is held here every year to celebrate the birthday of the renowned national poet of Bangladesh.
Kalyaneshwari Temple
The Kalyaneshwari Temple is famous as the “Temple of the Lady of Fulfillment”. It is just 20 Kms from the Asansol City and is 500 years old. The worshipped deity in the temple is Maa Kalyaneshwari, who is present in the form of Shakti or Goddess Kali.
Nehru Park
Nehru Park is located on the banks of River Damodar near Asansol in Burnpur town. This wonderful park provides many facilities like boating, musical fountains and restaurants on the bank of the river. There is a very nominal entry fee for the park and have a straight bus service which drops you at the location. In the past it was known as Riverside Park. There is a major Iron idol of the first PM of our country, Pt. Jawaharlal Nehru in the park.
Ghagar Buri Chandi Temple
Ghabar Buri Chandi Temple is located on Kali Pahadi in Asansol. It is believed that Maa Ghagar Buri is one of the other images of Maa Chandi, the mother Goddess. The Ghabar Buri Chandi temple is located on the banks of a small rivulet, named Nunia.
Kalyaneshwari Temple
The Kalyaneshwari Temple is popular as the temple of the Lady of Fulfilment. This temple, which is located some 20 km from the Asansol City is presided over by Maa Kalyaneshwari, who is present in the form of Goddess Kali or Shakti.