Finance your Holiday Plan with a Loan Against Property

If you were experiencing wanderlust, travelling would be your favourite pass time. Exploring exotic locations and meeting new people is what makes you happy.  However, you cannot deny that visiting new destinations is expensive. You need meticulous planning and of course lots of funds to satisfy your desire to see the world. With inflation touching new heights every day, you may or may not be able to save enough to fund your travel dreams. So, what should you do? Let your dreams die? Not anymore.

Loans are a convenient medium through which you can fulfil your travelling dream without exhausting your savings. 

Most preferably, your savings should be kept aside for your contingency needs. Availing a loan against property for wedding could be a solution. In a loan against property, lenders offer you funds against your residential or commercial property. As it is a secured loan, the loan application for a loan against property in India is approved instantly, without much documentation.  

Let's see how a loan against property for travel can help you travel the world.  

> High-Value Loan 

Whether your dream holiday is enjoying the beaches of Hawaii or visiting the Eiffel Tower of Paris, a loan against property can always help you. Lenders like Bajaj Finserv offer high-value loans that take care of your itinerary at exotic locations around the world. If you are a salaried person, you can avail a loan up to Rs. 1 crore. On the other hand, if you are self-employed, you can avail a loan amount up to Rs. 3.5 crores.

To know more: How Loan Against Property Can Help To Finance Wedding?

> Easy Eligibility Criteria 

Loan against property eligibility varies according to different lenders' policies. These could include your age criteria, employment status, your earnings or the city you live. You would have to fulfil the following requirements to avail a loan against property with Bajaj Finserv. 

For a Salaried Person: 

You should be a resident of India

Your age should be between 33 to 58

You should be employed in an MNC, a private company or the public sector.

You should own a property in specific cities determined by the lender.

For a Self-Employed Individual:

You should be a resident of India

Your age should be between 25 to 70 years 

You should be a self-employed individual with a regular source of income

You should own a property in specific cities determined by the lender.

> Long Tenor

 The loan against property tenor can help you calculate your monthly EMI. A longer tenor means that your EMI is divided into smaller amounts and vice versa. You can opt for a shorter tenor if you can pay a more considerable amount as monthly EMI. Alternatively, if you opt for a longer tenor you can comfortably repay your loan amount through smaller EMIs.

With Bajaj Finserv, you can avail a flexible tenor up to 20 years. A salaried individual can avail a tenor of 24 to 240 months, whereas a self-employed person can avail a loan up to a tenor of 216 months or 18 years. Moreover, by availing floating rates on your loan, you can prepay your loan amount without any extra penalties. 

Also Read: Revamp Your Travel Loans With Loan Against Property

> Minimal Documents

With minimal documents and instant loan facility, the proceedings of your loan process start as soon as you submit the loan against property documents. With Bajaj Finserv, you can avail a LAP with the following documents:

> For a Salaried Person 

Latest salary slips 

Bank account statements of the previous three months 

PAN Card/Aadhaar Card

Address proof

Copy of the property documents to be mortgaged

Income Tax Returns 

> For a Self-Employed Individual

Bank account statements of the previous six months

PAN Card/Aadhaar Card 

Address Proof 

Copy of the property documents to be mortgaged

By availing benefits from Bajaj Finserv loan against property features, you can plan your dream holiday or an exotic destination wedding without putting a strain on your finance.

Bajaj Finserv offers loan against property with features like instant approval, attractive interest rates, high-value loans, minimum documents, online fund management and hassle-free loan disbursal. Availing it could help you travel wherever you wish without depleting your savings.