Bajaj Finserv Mortgage Loan Interest rates in Kochi
| 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 Kochi
| upto To 21,00,00,000 | |
|---|---|
| Commercial Properties | 55.00% |
| Industrial Properties | 45.00% |
| Residential Properties | 80.00% |
Features of Bajaj Finserv Mortgage Loan Kochi
| 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 Kochi 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
About Other Banks
ICICI Bank
Axis Bank
HDFC Bank
Magma Fincorp
DHFL
Citi Bank
Dcb Bank
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
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 Kochi
Kochi formerly known as Cochin, this is one of the major port cities located on the West Indian coastal areas. This city of the Ernakulam district of the state of Kerala is situated by the side of the Arabian Sea. Thus, this city is often referred as Ernakulam as well. This 2nd biggest city of Kerala is considered to be the first ranked city in the state for attracting national as well as international tourists. This vibrant city is known for providing breathtakingly scenic view of the Kerala state. Apart from that, this city is the industrial and commercial capital of this state of south India.
The commercial capital and the most cosmopolitan city of Kerala, Kochi along with its mainland part, this was once a major centre of commerce and trade with the British, Arabs, Chinese, Portuguese and Dutch etc.Kochi is the most modern city of Kerala where the best shopping markets are located. From Cochin ships set sail for foreign ports with pepper, seafood, rubber and coir.The King of Cochin always remained only as the title head for it was always under the colonization of foreign invaders.
Places To Be Visited In Kochi
Bolghatty Island
The calming, soothing sound of Athirappilly Falls is the sound that greets the visitor here. Plummeting down 80 feet to Chalakkudy River, the picturesque Athirapilly Falls in Thrissur district is a very famous and very busy tourism destination. Be ready for a mesmerizing spell, right here at the Sholayar forest range.
Chennamangalam
About 4km from Parur,this place houses the oldest synagogue in Kerala. There is also a Jesuit Church and ruins of a Jesuit College . One can also walk to the Hindu Temple overlooking river Periyar, a 16th-century mosque, as well as burial grounds.
Coonan Kurishu Shrine
Located in the heart of the busy Mattancherry is the Coonan Kurishu Shrine which was the venue for about 25,000 Syrian Christians who, in 1653, assembled at the ancient cross in Mattancherry and tied long ropes to it. Pulling the ropes they took a solemn oath that they would never obey the Latin Archbishops or be under the Jesuits.
Cherai Beach
A lovely beach bordering Vypeen island off Cochin , Cherai beach is ideal for swimming. Dolphins are occasionally seen here. A typical Kerala village with paddy fields and coconut groves nearby is an added attraction.It is a popular tourist destination especially among foreigners.
Chottanikkara Temple
Sri Chottanikkara Bhagvathy Temple is the abode of millions of devotees who come here with many woes and pains. The huge golden idol, bedecked with jewels, flowers and various adornments is a sight to behold. Be ready to feel the positive vibrations emanating from the temple and take part in the festivities and poojas(rituals) to remove any afflictions you are suffering from.
Dutch Cemetery
Located a short distance from St. Francis Church, near the entrance to the beach, this cemetry is supposedly maintained by the CSI, but is very badly kept. It is of historical importance, having many famous persons buried here. Most of the grave stones have been removed, but the few that are here are in fairly good condition.However because of the overgrowth of plants and shrubs, it takes a bit of real exploring to discover whose grave stone is whose.