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Things To Consider While Prepaying Your Loan Against Property

A mortgage loan offers the borrower an opportunity to generate additional income from an otherwise idle property. A mortgage is a loan u2013 provided by a mortgage lender or a bank u2013 that enables an individual to purchase a home.<br><br>With the largest youth population in the world, both the investment and lending sector of the nationu2019s economy is thriving. Both secured and unsecured credits including various types of mortgage loans have seen huge demand in recent years thanks to the substantial loan amount, secured financing option, and zero end-user restriction.<br><br>Read more at https://www.bajajfinserv.in/mortgage-loan

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Things To Consider While Prepaying Your Loan Against Property

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  1. All About Loan Against Property

  2. Bajaj Finserv’s Loan Against Property Eligibility Criteria For Salaried Individuals: One should be between 33 to 58 years of age. One should be a salaried employee in an MNC, a private company or the public sector. One should be a resident of India. For Self-Employed Individuals: • One should be between 25 to 70 years of age. • One should be a self-employed individual with a regular source of income. • One should be a resident of India. Visit here for more info https://www.bajajfinserv.in/loan-against-property-contact-details

  3. Loan Against Property Overview Loan against property is also known as mortgage loan in which you can keep both residential and commercial property on collateral for multiple purposes like: • Fund your child’s education abroad • For funding any medical emergency • For funding child's marriage • Funding the dream vacation • Business expansion It is a secured loan, as your property is kept as collateral with the bank/NBFC. The lender have the right to auction your commercial/residential property and recover the money. Such types of loans have competitive interest rate as compared to the unsecured ones and can be used for both individual or business purpose.The lender mostly provides up to 60% of the property’s value in mortgage loan.

  4. Bajaj Finserv’s Loan Against Property Documents Required Visit here for more info https://www.bajajfinserv.in/loan-against-property-contact-details

  5. For Self-Employed Individuals • Bank account statements of the previous 6 months • PAN Card/Aadhaar Card • Address proof • Copy of the documents of the property to be mortgaged

  6. For Salaried Individuals • Latest Salary Slips • Bank account statements of the previous 3 months • PAN card/Aadhaar card • IT returns • Copy of the documents of the property to be mortgaged • Address proof

  7. What are the Benefits of LAP? • Lower interest rates • Easy to get • Long repayment tenure • Lower EMI • No prepayment charges • Simple approval process • Continuous ownership of property • Complete use of property • Multiple use flexibility

  8. Thanks for Watching! Visit here for more info https://www.bajajfinserv.in/loan-against-property-contact-details

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