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  • Vijaya Bank Loan against Property

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  • Vijaya Bank offers products and services catering to different sectors with over 1767 branches, over 13,000 employees and 1509 ATMs across the country. Not surprisingly, Vijaya bank has the most number of branches in its home state of Karnataka. Vijaya Bank aims to have state-of-the art technology to offer superior services to all customers. Some of the services offered by Vijaya bank include mobile banking, internet banking, RuPay cards, phone banking and NEFT and RTGS among others. To its customers.

    Purpose of Vijaya bank Loan against Property

    Loan against property offered by Vijaya bank can be used for meeting various financial requirements of borrowers except for speculative purposes.

    Eligibility criteria for Vijaya Bank Loan against Property

    The eligibility criteria for availing of loan against property by Vijaya bank is listed in the table below:

    Type of borrowers

    • Salaried individuals/professionals

    • Self-employed

    • Businessmen

    • Firms

    • Companies


    Minimum: 21 years

    Maximum: 65 years

    Loan Amount

    Maximum: Rs.5 crores


    70% of property value. Borrowers can mortgage any non-industrial/non-agricultural property


    10 years

    Processing charges

    0.15% to 0.55%

    Vijaya Bank Loan against Property Interest rates

    Vijaya bank offers a floating interest rate of 12.15%, i.e. base rate + 2.5% = 12.15% p.a. The floating interest rate is linked to the base rate of Vijaya bank. Base rate is the minimum rate below which a bank does not provide loans. The Reserve Bank of India (RBI) introduced the base rate system in 2010 for greater transparency to lending rates. Also, banks in the country found it difficult to ascertain transmission of policy rates with Benchmark Prime Lending Rate (BPLR). The base rate is reviewed by all banks on a quarterly basis. Banks increase their base rate when interest rates are on an upward trajectory and vice-versa. As a result, the transmission or the impact of low rates is passed on to borrowers. There is a view that loans benchmarked against base rates are more transparent in terms of transmission of interest rates compared to loans benchmarked against Prime Lending Rates.

    The following table shows the change in the base rate of Vijaya bank


    Interest Rate

    September 2015


    September 2010


    Documentation Required for Vijaya Bank Loan against Property

    The following documents should be submitted to avail of loan against property offered by Vijaya bank

    • Loan application form (completed)
    • Bank account statement (6 months)
    • Assets and liabilities statement (businessmen)
    • Residence proof (electricity bill/Aadhar card)
    • Proof of identity (driving licence/voter ID)
    • Property tax receipt
    • Photographs (passport size)
    • Any other documents as requested by Vijaya bank

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