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Eligibility Overview

The Bajaj Housing Finance Loan Against Property grants access to a sizeable loan sum at competitive property loan interest rates to applicants who meet the eligibility criteria, making it the ideal financing solution for an array of housing and business expenses.

The Loan Against Property eligibility criteria are easy-to-meet and the documentation requirements are minimal. Once an applicant meets the criteria and submits the necessary supporting documents, their loan application can be approved in just 24 hours*. Speedy approvals ensure quick disbursal, helping you address your pending expenses with haste.

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Eligibility Criteria for a Loan Against Property

Bajaj Housing Finance extends a Loan Against Property to salaried, professional, and self-employed applicants at attractive rates. Ensure that you meet the prescribed Loan Against Property eligibility criteria to benefit from all that the loan has to offer.

Eligibility Parameters Salaried and Professional Applicants Self-Employed Applicants
Nationality and Citizenship Applicants must be residing Indian citizens with a property located in a city we operate in Applicants must be residing Indian citizens with a property located in a city we operate in
Age** Applicants must be aged between 28 to 60 years (salaried)

Applicants must be aged between 25 to 70 years (professional)
Applicants must be aged between 25 to 70 years
Employment Record Applicants should be employed by a public/private firm or an MNC for at least 3 years Applicants should have a vintage of at least 5 years at their current business

**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.

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Documents Required for a Loan Against Property

Just like the eligibility parameters of a property loan, the documentation asks are also minimal. Here are some required documents for Loan Against Property that will be needed at the time of processing your paperwork. Once we verify the essential documents, the loan amount can be disbursed within 72 hours*

  • Proof of identity and residence: Voter’s ID/Driving License/Passport
  • Mandatory documents: PAN Card, Form 60
  • Proof of income: Bank account statements, Income Tax Returns, etc.
  • Property-related: Buyer agreement/title deed/property tax receipts, etc.
  • Other documents: Documents related to the declared businesses and ventures (in the case of self-employed applicants)

Note that this list is only indicative and may change based on your loan application.

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Factors Affecting Loan Against Property Eligibility

Your eligibility for a property loan is determined on the basis of a number of factors related to your profile and the property in question.

  • ​Age : Age is a vital parameter. It determines the number of years you have left in the work force, i.e., the number of years you are likely to be able to repay the loan. It is also one of the fields in a LAP Eligibility Calculator. Individuals near their retirement are likely to be offered a shorter tenor than younger applicants
  • Credit Score : Individuals with a 750+ credit score are more likely to get approval quickly for a property loan
  • FOIR : An individual’s monthly obligations reduce their disposable income, which could otherwise be counted towards their ability to repay a loan. The lower your FOIR, the higher your eligibility, subject to other factors in your profile. Use a Loan Against Property Eligibility Calculator to check the loan amount you can qualify for
  • Work Experience : Job stability plays an important role in deciding your eligibility for the loan

Loan Against Property: Steps to Apply 

Step-by-Step Guide to Apply for a Loan Against Property

Applying for a Loan Against Property with Bajaj Housing Finance is easy, and hassle-free. Follow the steps listed below to complete your online application in minutes:

  1. Click on the ‘Apply Now’ button at the top right of this page.
  2. In the first part of the form, you will be requested for your basic identification information and financial details.
  3. You will also be asked to select your preferred loan type – choose between Loan Against Property and Loan Against Property Balance Transfer and proceed to fill the rest of the form.
  4. Generate and submit the OTP in the next part.
  5. In the last leg of the journey, you will be asked to share the details of your property, your work experience and PAN card details.
  6. Once you’ve submitted the online form successfully, you will be contacted by our representative within 24 hours* to walk you through the next steps.

*Terms and conditions apply.

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Loan Against Property Eligibility Criteria FAQs

The eligibility for Loan Against Property is based on a range of factors, such as the property market value and the borrower’s income, nature of work, credit history, age, and current fixed obligations, among others. These factors present a complete picture of an applicant’s repayment capacity.

Aspiring Loan Against Property aspirants can easily check their LAP eligibility and the feasible loan amount based on their salary using the Loan Against Property EMI Calculator. While you may not be able to enter your salary directly into the calculator, you can try various permutations and combinations of your preferred loan amount, tenor and interest rate (suited to your current salary) to forecast your potential EMI, and gauge whether it fits your repayment capacity.

To enhance loan against property eligibility, consider paying off existing obligations, including all income sources, applying for a longer tenure, and maintaining a healthy credit score.

Loan Against Property is a secured loan wherein you pledge your property with a lender for a sizeable sanction to address expenses that you may have. The final loan amount is determined by several factors, such as the applicant’s profile and repayment capacity, the property’s market value and the lender’s loan to value ratio. Here are the types of properties that can be mortgaged for a large loan sum:

  • Residential properties (self-occupied or rented)
  • Commercial properties (self-occupied or rented)

Upon conducting the inspection of your property and verifying your application, the lenders will usually process the disbursal of your funds. Bajaj Housing Finance processes and disburses funds within 72 hours* of approving the loan.

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