Typically, When you apply for a Bajaj Finance Mortgage Loan then you need to take the following steps:

1. Fill the Bajaj Finance digital application form to start the mortgage loan process.
2. A few essential documents such as KYC, Financial, and Property need to be submitted 
3. Bajaj Finance initiates the mortgage loan process that includes legal and technical verification 
4. The NBFC determines your loan eligibility. Bajaj Finance  then provides you with a sanction letter. It includes the following details: sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions 
5. Lastly, all the documents are verified,  a mortgage loan disbursement is raised, and the disbursement cheque is issued.  

There are a few important documents that you need to submit while applying for a Bajaj Finance Mortgage Loan, they are given in tabular form below:

One of the major reasons why you need to select Bajaj Finance Mortgage Loan is because they provide you with attractive minimum low interest rates.

After submitting the necessary documents to secure a Bajaj Finance Mortgage Loan you get a quick approval for a sanction letter issued within 7-15 working days.

You need a minimum CIBIL score of 725 to secure a Bajaj Finance Mortgage Loan.

The minimum mortgage loan amount sanctioned by Bajaj Finance is Rs. 5 Lakh and maximum Rs. 5 Crore

Normally, many banks or other financial institutions like Bajaj Finance require only a co-owner to be a co-applicant for a mortgage loan. Moreover, it is not necessary that you have a co-applicant to apply for a Bajaj Finance Mortgage Loan. Although, if you do have one it only helps in enhancing your loan eligibility and proving to your lender your ‘Creditworthiness’.

The rate of interest for XYZ Mortgage Loan is Floating interest rate which is linked
to MCLR (MARGINAL COST OF FUNDS BASED LENDING RATE) Therefore it will change every time the repo rates get reused by the regulator.

The chances of you being eligible for a Bajaj Finance Mortgage Loan improves significantly, if you have IT returns of three financial years to show. However, you can secure it even if you do not have IT returns, if you are looking for a small mortgage loan amount and you have a good CIBIL score to prove that you are ‘Creditworthy’.

After applying and submitting all the necessary documents, Bajaj Finance will disburse your loan amount in 4-5 working days.

A few important details about the Bajaj Finance Mortgage Loan that you need to know that are given below: 

1. Types of Bajaj Finance Mortgage Loan:

   There are several types of Bajaj Finance Mortgage Loan. They are as follows: 

   1. Residential/Commercial Mortgage Loan:

      This is a regular Loan Against Property or LAP scheme provided by Bajaj Finance 

   2. Mortgage Loan for Self-Employed:

      It is a scheme offered specifically by Bajaj Finance to self-employed individuals 

   3. Mortgage Loan for Salaried:

       This LAP package is designed by Bajaj Finance to fulfill diverse expenses such as travel expenses, wedding cost, medical fees etc. Usually, this scheme is designed for individuals belonging to the 23 to 62 age group. 

   4. Mortgage Loan for Home Renovation:

      It is to help applicants to finance home renovation expenses that Bajaj Finance has designed this mortgage loan scheme. 

   5. Mortgage Loan for Education:

      This scheme is designed by Mortgage Loan to help you finance educational requirements. These include tuition fees, food expenses, flight tickets etc 

   6. Mortgage Loan for Wedding:

      It is to cover all types of marriage expenses that Bajaj Finance has created this mortgage loan package. 

   7. Mortgage Loan Balance Transfer:

      This type of LAP (loan against property) program is designed by Bajaj Finance to provide you with the opportunity to transfer mortgage loans taken from other lenders to Bajaj. 

   8. Mortgage Loan for Chartered Accountant:

      This is a special Mortgage Loan package created by Bajaj Finance to fulfill requirements of chartered accountants. 

   9. Mortgage Loan for Doctors:

      For doctors Bajaj Finance provides for a Mortgage Loan package that helps finance renovation of a clinic or even purchase of medical equipment. 

   10. Mortgage Loan for Lease Rental Discounting:

       This Bajaj Finance Mortgage Scheme allows you to take loans against rental receipts. 

   11. Mortgage Loan for Debt Consolidation:

       It is a mortgage loan facility that provides existing borrowers to have multiple loans and help save on interest cost.