Bridge Loan

Bridge Loan is a short-term loan that helps you bridge the gap between your short-term fund requirements and long-term loans. It allows the borrower to adhere to his current obligations where immediate cash flow is required. Bridge Loan requires collateral or security against the loan amount availed.

Table of Contents Features & Benefits Interest Rates Processing & Other Charges Eligibility Criteria Documents Required How to Apply for Bridge Loan FAQs

Features and Benefits of Bridge Loan

Mentioned below are some of the features and benefits of availing Bridge Loan.

• Generous rate of interest as per the loan amount
• High loan amount available (as per the borrower’s repayment capacity)
• Short and convenient repayment tenure
• Secure loan (backed by security)

Bridge Loan Interest Rates

The table below shows the rate of interest offered by various leading providers for Bridge Loan.

Provider Name	Interest Rate
Bank of Baroda	10.25% onwards
SBI	10.35% onwards
HDFC Bank	12.30% onwards
Piramal Capital and Housing Finance	16.55% onwards

Bridge Loan Processing & Other Charges

Particulars*	Charges/Fee
Processing Fee	Varies from lender to lender
Pre-payment Charges	Nil

* Goods and Services Tax (GST) as applicable will be levied in addition to the mentioned charges.
Note: Other additional charges may be levied by the provider as and when applicable.

Bridge Loan Eligibility Criteria

Mentioned below is the eligibility criteria to avail Bridge Loan.

Eligible Profiles	All eligible Indian residents
Age	Minimum: 21 years Maximum: 65 years

Note: Over and above this, there are several other factors like an applicant’s income, liabilities, assets owned, etc., which are evaluated by the provider to determine the eligibility of a customer.

Bridge Loan Documents Required

Following are the documents required to successfully apply for Bridge Loan.

• Duly-filled Application Form
• Income tax Details
• Identification Proof
• Bank Statement
• Income Proof
• Residential Proof
• Property-related Documents

Note: This is an indicating list. Additional documents may be required by the provider at the time of loan application.

Apply for Bridge Loan on Paisabazaar.com

Customers can apply online for Bridge Loan through Paisabazaar.com by simply following the below-mentioned steps.

• Follow the link: https://www.paisabazaar.com/home-loan/
• Fill the form by providing relevant details like the loan amount, city of the property, tenure, etc.
• On filling all the required details, click on the ‘Proceed’ button

Soon, a representative from Paisabazaar will contact you on the provided contact number to process your application.

Also Read: How long does the home loan process take?

FAQs

Q1. What is the maximum repayment tenure offered?
The maximum repayment tenure of a Bridge Loan may go up to 24 months.

Q2. How long does it take to get a bridge loan?
The approval time is subjective to the provider. Ideally, a bridge loan is approved and disbursed within two or three weeks.

Q3. What is the maximum loan-to-value ratio available under Bridge Loan?
The maximum loan-to-value ratio may go up to 80-90% of the value of the collateral.