A loan against property for education is your ticket to arranging for funds for higher studies with ease. But, take a look at why you should partner with Bajaj Finserv when you’re shopping for this loan.
Are you looking to meet expensive education expenses without cashing in your investments or dipping into your savings? A loan against property for education is the right option to turn to. But, as is the case with all loans, picking the right loan provider is imperative.
Bajaj Finserv’s Loan Against Property for Education is packed with benefits that make it an excellent option. Take a look at why you should pick Bajaj Finserv.
High loan amount:
Higher education, especially if you’re studying abroad, can be extremely expensive. Keeping this in mind, Bajaj Finserv offers Loan Against Property for Education. This way, you don’t have to take multiple loans or rely on various sources of finance. Choosing this loan is enough to meet education expenses, as Bajaj Finserv allows you to borrow up to 75% of your property’s value.
Easy top-up loan:
If you have taken a loan of less than 75% of your property’s value, Bajaj Finserv allows you to avail a top-up loan with no extra paperwork, should you need it. This top-up loan also benefits from the same long tenor and nominal interest rate.
Along with a significant loan amount, you also stand to benefit from Bajaj Finserv’s flexible tenor. Ranging from 2 years to 20 years, you have ample time to repay the loan. Depending on your financial situation, you can pick a repayment period that is convenient for you.
Affordable interest payments:
Besides the high loan amount and the choice of tenor, the nominal rate of interest offered by Bajaj Finserv’s Loan Against Property for Education makes it a worthy contender. This keeps your loan light on the pocket and easy to repay.
Hybrid Flexi Loan feature:
What sets Bajaj Finserv’s Loan Against Property for Education apart from other similar loans is this Hybrid Flexi Loan feature. When you choose this option, you get a loan limit, against which you can borrow sums of money as and when you need to. Its USP is that you will only have to pay interest on the amount of money that you actually use, and not the entire sum. So, if you only use Rs.40 lakh out of Rs.70 lakh, you only pay interest only for Rs.40 lakh. Bajaj Finserv allows you to borrow, repay, and re-withdraw as many times as you wish to, making this loan unique. You can use this Hybrid Flexi Loan to fund educational expenses that vary from year to year with ease.
Easy application and processing:
The simple application process—that can be completed online or offline—allows Bajaj Finserv to disburse the loan amount to your bank account within 72 hours of the document verification. This means that you can count on this source of finance for meeting your educational expenses.
Simple eligibility criteria and minimal document requirements:
Just about anyone can apply for this loan. You must meet two criteria:
- You must be an Indian resident
- You must be a salaried employee
Since the loan is given against a property that you own, you only have to submit a few basic documents such as:
- Copy of papers of the property that is to be mortgaged
- Filled application form
- Address proof
- Salary slips of the past 3 months
- Bank statements of the past 3 months
- PAN card/ Aadhar card
Online loan management:
Apart from applying for the loan, Bajaj Finserv also allows you to see and track your loan details online. Using your customer ID and password, you can check interest statements, balance due and other such details at your convenience. Bajaj Finserv gives you digital access to this information so that you can get a quick overview of your loan’s details whenever you want.
If you’re an existing Bajaj Finserv customer, you have more reason to celebrate. You can make use of the Loan Against Property for Education on a pre-approved basis. This means that you don’t have to go through the entire application procedure from scratch as your basic details are already in Bajaj Finserv’s records.
The high loan amount, combined with low interest rate and no hidden charges makes make Bajaj Finserv’s Loan Against Property for Education the best in the market.