The Government of Tamil Nadu has taken the initiative to digitise the land records, which will bring transparency and easy access to such important property documents. In Tamil Nadu patta and chitta are the two important papers in this regard. While patta confirms an individual’s property rights, chitta offers further details regarding that land.

The TN Government has combined both the documents and made a particular document called Patta Chitta. One can now apply for a Patta Chitta online to get access to the land records without any hassle.

Steps to apply for a Patta Chitta online 

Individuals intending to apply for a TN Patta Chitta online need to follow the steps below. One can also visit the concerned Taluk office to see the computerised records. The steps are:

Step 1: Visit the Patta Chitta website, where one can choose between two languages, English and Tamil

Step 2: Individuals need to select Patta, FMB, Chitta, or TSLR extract

Step 3: Select the district in which a concerned property is located

Step 4: Type the details like Taluk, Village, Ward, or Block with the Survey and subdivision number

Step 5: Click on ‘Submit’

On submitting this application form, one can get a certificate from the Town Survey Land Register with the property details. However, to complete this process, one needs to pay a fee.

How to pay Patta Chitta application fees?

Individuals can pay their application fee by visiting the e-services department area of their nearest Village Office Administrator’s office. Otherwise, they can also pay this fee online after checking its status through different online payment methods.

Besides knowing how to check this record, individuals should also know the process of transferring it.

How to transfer Patta Chitta? 

One needs to collect the appropriate transfer form from the Patta Chitta official website. Then, one needs to fill up this form and submit it along with required documents on the TN Patta Chitta platform.

Alternatively, property owners can also manually submit this form after filling it. For that, they need to visit the Village office of their concerned Taluk.

Once the form is forwarded, the village administrative officer will visit and allot a new Patta number with the individual’s name. However, Patta Chitta is important for home buyers. So, before applying for a home loan, one can also check the features to increase the property value.

Documents required to transfer Patta Chitta 

Individuals who want to transfer TN Patta need to provide certain documents along with the signed Patta transfer application. These documents are:

1. Copy of sale deed and original document of verification
2. FB Bill as proof of procession or Property tax receipt
3. Encumbrance certificate
4. Utility bills

While submitting these documents online, one needs to know how to check the record or status of Patta Chitta online.

Steps to check Patta Chitta status

Step 1: One needs to visit Tamil Nadu Government’s E-district website

Step 2: Try to log in to the portal entering credentials in their respective fields

Step 3: Input the Application ID

Step 4: Provide CAPTCHA

Step 5: Click on the ‘Get state option’

Now, owners can check the status of their Patta Chitta online. Once one sees the status online, one can apply for a home loan. 

Why is Patta Chitta so important?

Patta Chitta has several uses apart from being a legal document that validates land ownership. One can use it for several reasons such as:

1. For any property sale, Patta Chitta is essential
2. This document provides the exact details regarding its ownership and history
3. With it, one can resolve any dispute associated with any property in this state
4. In case of a land acquisition, one can get a compensation amount from the TN Government with an updated Patta Chitta
5. Individuals planning to apply for housing loan may need to submit as a part documents required for it

Moreover, individuals applying for a housing loan can also check if they are eligible for a pre-approved offer. Many financial institutions provide pre-approved offers to streamline the documentation process. This facility is available for various financial products like loans against property and likes. Borrowers can check their pre-approved offers by providing their name and contact number. Individuals intending to buy any property in Tamil Nadu must check the land owner’s Patta Chitta. Hence, landowners must apply for Patta Chitta online and keep it up to date to avoid any legal issues.

As per RBI reports, by the end of FY2021, the total outstanding gold loan value amounted to around Rs. 60,500 crore. This figure represented year-on-year growth of almost 82%.

Nevertheless, blindly opting for such credit can cause unnecessary financial strain on borrowers. Therefore, learning about some of the common mistakes to avoid before applying for the loan can help individuals to optimise benefits.

7 mistakes to Avoid While Applying for a Gold Loan

If one is considering a gold loan, here are some things to avoid, ensuring the best borrowing experience.

1. Failing to compare offers from various lenders

Not comparing between lenders is one of the most common mistakes while applying for a gold loan, or any other credit for that matter. Doing so would mean that a borrower may miss out on more favourable terms available on gold loans in the current market.

Therefore, applicants must check all available options beforehand to make an informed decision. One must look at tenor flexibility, the interest rate charged and repayment options when undertaking such a gold loan in India comparisons.

2. Not reading or failure to comprehend loan terms and conditions

Every loan comes with a specific fine print, and borrowers must be responsible enough to read such terms and conditions before signing the loan documents. Gold loans are no different in this aspect.

For instance, borrowers can check whether a gold loan offer extends part payment and part release facility or not. In case of part payment, it may entail bearing an additional charge. Additionally, it is vital to check the terms associated with part release facility.

3. Neglecting various gold loan repayment options

Unlike most other consumer credit, gold loans offer increased flexibility when it comes to repayment. Borrowers have three major methods to repay, and these are –

• The gold loan process is such that individuals can choose to avoid EMI payments completely. A borrower can repay the entire principal amount along with the accrued interest through a single payment at the end of the loan tenor.
• Under the regular EMI method, individuals repay gold loans through monthly instalments.
• Here, one just pays the accrued interest amount each month. The outstanding principal sum is cleared at the end of this loan’s tenor through a single payment.

Depending on one’s financial viability, determining the optimal repayment option is crucial. Moreover, not considering in advance can create issues in future.

4. Failing to choose a lender with door-step service

Due to the inherent value of gold jewellery, carrying the same to a lender’s branch is a risky prospect. Thus, several renowned lenders like Bajaj Finserv offers door-step gold assessment and recovery. In such cases, the gold loan process involves applying for the said credit, followed by a visit from a representative from the lending institution.

This representative assesses a borrower’s collateralised gold items and approves a loan amount based on their value. This is an easier alternative, which minimises risk to one’s gold items.

5. Failing to assess gold loan LTV

Loan to value refers to the maximum loan amount one can acquire against the total valuation of pledged gold items. As per the current RBI guidelines, this ratio, represented in percentage, now stands at a maximum of 75%. This means, if you collateralise gold items of Rs.10 lakh against an LTV of 70%, you can get a loan of up to Rs. 7 lakh.

However, a point to remember here is that this ratio alters with the choice of lender. Hence, one should not make the mistake of not checking this ratio and ending up with a lender offering an LTV that does not meet his/her requirements.

6. Failure to assess gold purity

Lenders do not accept gold jewellery whose purity is lower than 18 carats. Thus, individuals while purchasing gold articles must get its purity certificates, to avoid any future hassle. The inability to comprehend such rules can lead to a rejection of loan application or increased hassle when applying for these kinds of credit.

7. Not learning about the auction process in case of delinquencies

Being secured loans, lenders are free to auction one’s collateralised gold items if borrowers fail to repay the said credit on time. Before signing on for such credits, borrowers must understand this auction process carefully. Failure to do so can lead to the loss of valuable assets.

Gold loans ensure accelerated access to funds during financial emergencies. Keeping the above-listed common mistakes in mind should ensure a streamlined borrowing process for loan applicants.

Big-ticket purchases might lead individuals to turn to alternate financial routes instead of shelling out the entire amount at once. Thanks to financial products such as the Bajaj Finserv EMI Card, frequent buyers have better ways to fulfil all their monetary obligations without straining their savings. From lifestyle products to home appliances, the Bajaj EMI Network Card can be used to purchase all these items at zero-interest EMIs. 

Apart from the pre-sanctioned limit of up to Rs.4 lakh, the easy EMI facilities are available with hassle-free repayment terms. However, in order to utilise all these facilities, one must know how to generate EMI card PIN and activate the card first. With the Bajaj Finserv Experia portal, this process can be completed with just a few clicks. 

Steps to activate Bajaj EMI card online

Note that both the offline and online procedures can be used to activate a Bajaj Finserv EMI Network Card. However, the tech-savvy generation inevitably leans towards the online process due to its time-saving nature. 

For that, here is the process they need to follow:

Step 1: Start by visiting the Experia customer portal online and view the EMI offer details.

Step 2: Access the offer available for you and apply for the EMI Network Card. 

Step 3: You will have to submit documents such as PAN card, ECS mandate, Aadhaar card, and a cancelled cheque in the next step. 

Step 4: Once you are approved for the card, you have to download the Bajaj wallet app from Play Store or App Store. 

Step 5: Login by entering the OTP sent to your registered mobile number. 

Step 6: You will see the ‘know more’ option in the pop-up, click on it and fill in necessary details such as your name, date of birth, etc. 

Step 7: Click on the ‘See EMI Card Now’ option to activate it. 

You can use the Experia app and official site to view all the transaction details, EMI dues, etc., of your Bajaj Finserv EMI Network Card. 

Other than the above-mentioned facilities, the Bajaj customer portal comes with other features as well.

Features of Bajaj customer portal 

Both the online portal and Experia app comes with a clean, simple user interface so that customers can easily utilise all of its following features. The attributes include:

• Assessing loan details 

Just like EMI card details, you can also obtain your existing as well as old loan account information via Experia portal. This further helps in keeping tabs on your financial obligations so that you can handle them properly and save yourself from an additional burden. 

From due date to upcoming payments, the app notifies you regarding all this information so that you do not incur penalties. 

• Easy online payments 

While the Bajaj EMI Network Card allows you to carry out both affordable and large expenses via easy EMIs, the Experia portal enables you to manage the loans with ease. Note that to initiate a Bajaj online payment, you must complete the Bajaj EMI card PIN generation process, which involves messaging ‘PIN’ to +919227564444 from your registered mobile number. 

• Check pre-sanctioned offers 

Bajaj Finserv provides pre-sanctioned offers on several financial products, from personal loans to business loans and more. These offers generally make the loan process more affordable and less time-consuming. You can use the Bajaj Finserv Experia portal to check your pre-approved offer by submitting your name and contact details. 

• Obtain e-statements

This web provision also enables customers to download payment statements, interest certificates, NOC, etc. Such documents are generally used while applying for further loans or just to maintain financial records. 

Thus, with easy access to the Experia portal, purchasing products from the Bajaj Finserv EMI Store and keeping track of these expenditures has become much easier.

Managing loan statements, investments, credit cards, financial documents, etc., in one place simultaneously, is not only handy but convenient too. Customers using a Bajaj Finserv EMI card can manage their finances effectively and on time with the Experia portal. 

In this way, it becomes efficient for customers to keep an eye on their financial commitments and reduce the chances of defaulting.

Ways to Repay a Loan on a Bajaj EMI Card

Borrowers must know that they can repay the loan amount or clear EMIs of their Bajaj Finserv EMI card through this Experia portal. Borrowers can also visit their nearest NBFC branch and pay the outstanding amount through cheque. 

Alternatively, individuals can choose Bajaj online payment services through the following methods-

• NEFT
• Credit/Debit card
• E-wallet
• Bajaj Finserv Experia portal

It is convenient for borrowers to process EMIs through this web portal because one can make EMI payments online, track payment status and receive notifications regarding overdue payments, etc., in one place.

There are specific differences while making payments through these portals. However, choosing Bajaj customer portal as a payment method is convenient, helping customers complete their loan payments in minimal time. 

With the NBFCs online portal, customers can clear their Bajaj Finserv EMI card repayments in few simple steps. Customers can also foreclose or opt for part-repayment if they have a substantial fund in hand. 

Regardless of the chosen payment method, borrowers can initiate the repayment process by following the steps mentioned below-

Step 1: Customers need to visit the Bajaj Finserv official website and select “My Account” from the dashboard

Step 2:  Users need to use their Bajaj Finserv login credentials, name and registered mobile number. After that, an OTP will be sent to the registered mobile number

Step 3: Enter OTP and click on “Next” option

Step 4: If a customer is using this portal for the first time, then they need to confirm their DOB, contact details, Email ID and create a password to proceed further

Step 5: On the next page, customers need to click on “Services”

Step 6: Then, click on the “Payment tab” 

Step 7: Choose your preferred payment mode to proceed with the payment process

Now, submit your loan information and continue online payment process through secured gateways

Alternatively, borrowers can make their Bajaj Finserv EMI card loan payment through Bajaj Finserv Experia app. To make the payment, follow the simple steps below:

Step 1- Customers need to log in with their registered mobile number

Step 2- Go to the “Account Information” page and click on “Online Payment”

Step 3- Choose “EMI and Overdue Payment option”

Step 4- Enter payment page and choose your preferred mode

After choosing your convenient payment method, borrowers can complete the transaction successfully. Additionally, choosing to pay online through this Bajaj Finserv Experia App will allow customers to manage their loan account efficiently and track payment status. Moreover, customers can download their required loan statements from this app and purchase insurance policies.

This beneficial online portal allows customers to check repayment schedules and estimate their financial liability. Having an idea about the outstanding EMI amount will also help borrowers plan their repayments and manage finances accordingly. Bajaj Finserv does not charge additional fees for online payments and maintains transparency and security throughout the loan repayment procedure.

Existing borrowers are eligible for pre-approved offers and can check the same via this portal. Such offers are available on several financial products, such as personal loans, credit cards, etc. You need to submit details like your name and contact information to check your pre-approved offers online.

Thus, this Experia app makes the entire repayment process simpler and helps individuals manage their finances better. Also, with this app, one can conveniently apply for loans and Bajaj Finserv EMI card.

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