A mortgage loan is a secured loan that allows borrowers to access funds by mortgaging an eligible property with the lender. Submitting the required documents helps lenders verify the applicant’s identity, address, income, repayment capacity and property ownership.
Whether you are a salaried professional or self-employed individual, keeping the necessary documents ready can help make the verification process smoother. Mortgage Loan by Bajaj Finance offers financing options for eligible borrowers, subject to applicable eligibility criteria and approval.
Key Takeaways
- Mortgage loan documents help lenders verify the applicant’s identity, address, income and property details.
- Applicants generally need identity and address proof, income documents and bank statements.
- Self-employed applicants may need additional business and financial documents.
- Property-related documents help establish ownership and verify the property offered as security.
- Additional documents may be requested based on the applicant’s profile, property and loan requirements.
- Keeping documents updated and organised can help reduce delays during the application process.
What documents are required for a mortgage loan?
The documents required for a mortgage loan may vary depending on the applicant’s profile, property and lender requirements. Applicants applying for a mortgage loan by Bajaj Finance may broadly need to submit the following:
- Proof of identity/ residence – Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- If your current address is not the same as the OVD document provided, please share any of the listed DOVD documents. Click here to view the documents.
- Proof of income
- Property-related documents
- Proof of business (for self-employed applicants), and
- Account statements for the last 6 months
Mortgage loan by Bajaj Finance
Mortgage loan by Bajaj Finance can provide eligible borrowers with access to funds against an eligible residential or commercial property, subject to applicable eligibility criteria, property assessment and approval.
| Feature | Details |
| Loan amount | Up to Rs. 15.50 crore* |
| Interest rate | Starting from 8% p.a.* |
| Repayment tenure | Up to 15 years* |
| Property type | Eligible residential and commercial properties |
| Documentation | Minimal documentation |
| Disbursal | Within 72 hours* after approval, subject to verification |
How to apply for a mortgage loan with Bajaj Finance?
You can apply for a loan against property online by following these simple steps:
- Check eligibility: Click on the “Check Eligibility” button on the Bajaj Finance Loan Against Property page.
- Verify mobile number: Enter your 10-digit mobile number and complete OTP verification.
- Provide details: Submit your personal, employment or business, and property details.
- Select loan requirements: Choose the required loan amount and preferred loan variant.
- Choose repayment tenure: Select a suitable tenure between 12 months and 180 months.
- Complete the application: Proceed with the application and complete the required formalities.
Frequently asked questions
What documents are required for a mortgage loan?
Applicants generally need identity and address proof, income documents, bank statements and property-related documents. Self-employed applicants may also need business proof and financial records. The exact requirements can vary based on the applicant’s profile, property and lender.
Are property documents required for a mortgage loan?
Yes. Since a mortgage loan is secured against an eligible property, lenders generally require property-related documents to verify ownership, title and other relevant details before approving the loan.
What documents are required from salaried applicants?
Salaried applicants may generally need identity and address proof, salary or income documents, bank statements and property-related documents. Additional documents may be requested depending on the applicant’s profile and verification requirements.
What documents are required from self-employed applicants?
Self-employed applicants may need identity and address proof, income-tax returns, financial statements, bank statements, proof of business and property-related documents. Additional documents may be required based on the applicant’s circumstances.
Conclusion
Preparing the required mortgage loan documents in advance can help make the application and verification process more efficient. Salaried applicants should keep their income and employment records ready, while self-employed applicants may need additional business and financial documents.
Property-related documents are also important because the property serves as security for the loan. Checking the latest lender requirements and keeping the documents updated can help support a smoother mortgage loan application process.
*Terms and conditions apply.
