Pursuing higher education from top-rated institutes is very much rewarding but costly too. These institutes provide a student with not just quality education but an overall personality development. The top-notch institutes promise a good job, high income, and an outgoing personality in the child. In order that you don’t have to settle for a lesser college due to lack of money, Bajaj Finserv offers you an education loan against property.
With its loan against property, Bajaj Finserv offers education loans up to INR 3.5 crore. So now you can take care of all your expenses including tuition fees, accommodation, visa, and all the other expenses. For US colleges, now you don’t need to worry about admission to an Ivy League college.
Attractive Features of Bajaj Finserv Education Loan Against Property
Loan disbursal within 4 days
Loans up to INR 3.5 crore
Flexible periods with a maximum of up to 20 years.
What are the eligibility criteria?
In order to avail Bajaj Finserv’s Education Loan against property, you need to be a salaried person or a self-employed individual. Bajaj Finance Limited doesn’t offer loan against property to unemployed students. In case of such students, their parents can avail the loan.
Parameters involved concerning the property are:
Stability of Employment/Business
Insurance of the property
Maximum Loan Limit
Bajaj Finance Limited will offer you an education loan against property up to a high limit of INR 3.5 crore. But this is applicable to those applicants who are self-employed individuals.
For the salaried employees, the maximum loan limit is INR 1 crore.
Even for such a high limit, Bajaj carries out the minimum documentation process feasible with the minimum paperwork. You also get the benefit of a doorstep service.
Bajaj has kept certain criterion for the property to be valid to avail a loan. They are:
The property should be properly insured from fire and other calamities.
The property should be free of any kind of litigation.
The property should not have any existing mortgage or loan.
The owner of the property must be a co-applicant.
Why choose Bajaj over other banks and NBFCs?
There are so many lenders in the market which give you an education loan against property. Bajaj has ensured to keep its demands and application process suited to the need of the users. From the best loan facilities to the flexible loan repayments, Bajaj caters to all of your demands.
Repayment Period: The company considers repayment periods up to 20 years for those who take an education loan against property.
For self-employed individuals, the repayment period goes up to 18 years. Salaried people can choose a period between 2 to 20 years.
Prepayment: Bajaj allows you to not just prepay your education loan, but also to part-prepay your education loan. Moreover, no charge or penalty is levied for that.
Downward Repricing: Bajaj exercises downward repricing 2 times every year. Under this process, for customers who have exceeded the 100 bps limit, the rate of interest is repriced downwards to bring them under 100 bps.
What is the procedure to apply?
Anyone with a valid property can apply easily for Bajaj Finserv Education Loan Against Property.
Fill the online form on the website.
The Bajaj representative will get in touch with you within 24 hours.
Get the loan approved within 48 hours.
Submit the documents required.
Your loan will be disbursed within 4 days.
Ensuring that customers get a loan through a hassle-free process, Bajaj offers many flexible features and makes higher education easily affordable. It also asks you to pay interest only on the principal you have taken.