Bajaj Finserv Lease Rental Discounting Loan Interest rates in Thrissur
| Up To 21,00,00,000 | |
|---|---|
| Commercial Properties | 11.75% |
Features of Bajaj Finserv Lease Rental Discounting Loan Thrissur
| Type | Features |
|---|---|
| Processing Fee | Up to 2% |
| Pre Closure Charges | 3.0% |
| Part Payment Charges | Allowed |
| Min Tenure | 5 Years |
| Max Tenure | 11 Years |
| Min Age | 25 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.10,00,00,000/- |
| Max Loan Amount | Rs.50,00,00,000/- |
Bajaj Finserv Lease Rental Discounting Loan Thrissur 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.1000/- |
| 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 Lease Rental Discounting
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 Home Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Home Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Income Proof For Home 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)
Address Proof For Home 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 For Home Loan
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Banking History For Home Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Property Related Documents For Home Loan
- 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
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
About Other Banks
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IDBI Bank
IndusInd Bank
Kotak Mahindra Bank
RBL Bank
State Bank of India
Standard Chartered Bank
Avanse
LIC Housing Finance
Fullerton
TATA Capital
Credila
HDFC Limited
Aditya Birla Housing Finance
Capital First
Edelweiss
Indiabulls Housing Finance
Religare Finvest
Yes Bank
Canara Bank
Bank of Baroda
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
Things not to do for Home Loan
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 Thrissur
Thrissur originally Thiru Siva Peroor and previously known by its anglicised form as Trichur, is the fourth largest city, the third largest urban agglomeration in Kerala and and the 20th largest in India, population 1,854,783.Thrissur is known as the “Cultural capital of Kerala” and has been the scene of numerous events of historic and cultural importance. Thrissur is built around a hillock on which the famous Vadakkunathan Temple is situated.
The history of modern Thrissur started with the swearing ceremony of Raja Rama Varma in 1790, who is popularly known as Sakthan Thampuran (1790-1805). The mighty ruler Sakthan Thampuran is legendary as the architect of Thrissur town.
Places To Be Visited In Thrissur
Basilica of Our Lady of Dolores
With murals on its walls and ceilings, this 1875-built Roman Catholic Minor Basilica has the largest church interior in South India. It is adorned with 140 ft long steeple, which is visible from anywhere in the town. The chapel has 15 altars and boasts of neo Gothic spires. It is locally famous by the name of Puthen Palli.
Vadakummnathan temple
With a collection of beautiful Mural paintings, some of which are more than 400 years old, this gigantic 1000 year old temple and historical structure is famous for the Nataraja Mural near the main gate.The shrine of Vadakkumnathan is also situated there, which is apparently covered completely under ghee for centuries, without any incidence of melting. The shrines of Mahavishnu and Shankaranarayan are also located in the temple.
Athirapally Falls
It is Situated in a small place in the Thrissur district of Kerala, the 80 ft high and 330 ft wide Athirapally falls is a majestic waterfall that is right in front of the Sholayar ranges and is often referred to as the "Niagara Falls of India". It is part of the Chalakudy River that originates in the Anamudi mountains of the Western Ghats.
Vazhachal Falls
Vazhachal Falls is a popular picnic spot. Quality time can be spent here with the family. The place is located at a distance of 60 km from Thrissur city and 5 km from Athirapilly Falls. Vazhachal Falls have dense forests of Sholayar ranges surrounding . During its course on rocky terrain, River Chalakkudy gives out in three branches, which resume its flow surrounding the small islands formed by the riparian forests. These three branches gather momentum on its downward course and plummet to the rocky bed of River Chalakkudy to re-unite.
Charpa Falls
Charpa Falls is another one of the nature's delight that displays the blessings of Mother Nature. Cascading down from a shot height, this fall which is a part of River Chalakkudy offers a breathtaking experience. Athirappilly Falls and Lake Vachumaram are a stone's throw away from Charpa Falls.
Chavakad Beach
A sea shore adorned with rare scenic beauty, the Chavakad beach is renowned as being one of the best beaches along the West Coast.