Loan Against Property.

Big on dreams. Small on EMIs.

Starting at 8.00% p.a.

Instant

Approvals

70+

Banks and NBFC Network

200+

Branches

38,000CR+

Loans Disbursed Annually

Loan Amount

10K 100CR

Interest Rate

%
5% 17%

Tenure (Years)

Years
1YR 20YR
Equated Monthly Installment (EMI)
Loan Against Property EMI Calculator

Principal Amount

0

Monthly EMI

Total interest payable

Total amount payable

Loan Against Property Rates

The following is a comparison of loan feature of banks across key categories

PNPaT5ik 1024px Punjab National Bank.svg
10.55% per annum onwards

Interest Rate

0.75% of the total amount of loan up to a maximum of Rs 1 lakh

Processing Fees

EMI

PNPaT5ik 1024px Punjab National Bank.svg
10.55% per annum onwards

Interest Rate

-

EMI

0.75% of the total amount of loan up to a maximum of Rs 1 lakh

Processing Fees

CjiYVbyU Hdf
11.10% onwards

Interest Rate

Up to 1.50%

Processing Fees

Rs. 970/Lakh

EMI

CjiYVbyU Hdf
11.10% onwards

Interest Rate

Rs. 970/Lakh

EMI

Up to 1.50%

Processing Fees

8.90% onwards

Interest Rate

Up to 1.00%

Processing Fees

Rs. 1,137/Lakh

EMI

8.90% onwards

Interest Rate

Rs. 1,137/Lakh

EMI

Up to 1.00%

Processing Fees

Icici
8.35% onwards

Interest Rate

Up to 1.00%

Processing Fees

Rs. 1,014/Lakh

EMI

Icici
8.35% onwards

Interest Rate

Rs. 1,014/Lakh

EMI

Up to 1.00%

Processing Fees

0hrIxONh Kotak
8.35% onwards

Interest Rate

Up to 1.00%

Processing Fees

Rs. 1,044/Lakh

EMI

0hrIxONh Kotak
8.35% onwards

Interest Rate

Rs. 1,044/Lakh

EMI

Up to 1.00%

Processing Fees

6LoxRa52 Idfc
8.25% onwards

Interest Rate

Up to 1.00%

Processing Fees

Rs. 956/Lakh

EMI

6LoxRa52 Idfc
8.25% onwards

Interest Rate

Rs. 956/Lakh

EMI

Up to 1.00%

Processing Fees

**The above figures are subject to change and GST may be applicable.

389Tx4bZ Icici 1

8.10% onwards

Interest Rate

Up to 1%

Processing Fees

Rs. 672/Lakh

EMI

I04CkOBA Kotak 1

7.99% onwards

Interest Rate

Up to 2.0%

Processing Fees

Rs. 672/Lakh

EMI

V6QDUq8G Idfc 1

7.95% onwards

Interest Rate

Upto 1%

Processing Fees

Rs. 672/Lakh

EMI

**The above figures are subject to change and GST may be applicable.

Loan Against Property Details

  • What is a Loan Against Property?
  • Eligibility Factors
  • Documents Required
  • How To Apply
  • Loan Verification Process
  • Rate of Interest
  • Other Details
A loan against property (LAP) is a loan disbursed against the security of one’s property, residential or commercial, to meet their financial needs. The property placed as security must be free of any encumbrance and the funds so borrowed, must not be used to carry out anything illegal.

The total value of the loan disbursed is usually 40%-65% of the market value of the property provided as security. These kinds of loans are cost-effective, easy to avail and come with low mortgage interest rates.

Eligibility:

Anyone who owns a property can apply for a loan against it. However, whether they are eligible for it or not depends on the following

Age:

18/21 - 60/65 years.


Nationality:

  • Indian Residents / Non Resident Indians (NRIs) / Persons of Indian Origin (PIOs).

Credit Score

  • 650 and above.


Work Experience:

  • Salaried Professionals must have been employed at their current workplace for at least 6 to 12 months.
  • Self-employed Individuals should have had a business tenure of at least 3 years (continuous).

Note: All/any of the Eligibility Factors listed above are subject to change on a case by case basis, left to the discretion of the bank/NBFC you are applying for a Personal Loan from.
The actual list of documents varies from one bank/NBFC to another. That said, here’s a checklist of the most common documents that are expected from all of them.

Proof of Identity:

  • PAN Card / Voter ID / Aadhaar Card / Passport / Driving License


Proof of Address:

  • Bank Account Statement / Aadhaar Card / Lease Documents / Property Purchase Agreement / Utility Bill / Passport / Driving License

Proof of Income:

  • For Salaried Professionals: Salary Slip / Bank Account Statement / Form 16

  • For Self Employed Individuals: ITR / P&L Statement and Balance Sheet / Bank Account Statement

Proof of Ownership/Property-related Documents:

  • NOC from Society & Builder / Detailed Estimate of the Cost of Construction of the House / Registered Sale Deed / Allotment Letter / An Approved Copy of the Building Plan
Apnapaisa.com not only gives you the best deals on loans against property, but also makes applying for one easy and hassle free.

  • Fill up your personal details such as occupation, city, phone number, etc. Then, click Proceed.


  • Browse through the various offers on loans against property and select the one that’s best suited to your needs.


  • Fill out any additional details that may be required.


  • Your selected lender will send you an instant e-approval. Following which, a representative from your selected lender will get in touch with you to guide you through the documentation process.


Loan against property (LAP) is a loan disbursed against the security of one’s property, residential or commercial, to meet their financial needs. The Loan Against Property Verification Process involves all but 5 tiny steps.

  • Start by selecting a Bank/NBFC that’s providing you with a loan against property that’s best-suited to your needs.


  • Submit an online application for a loan against property on Apnapaisa.com. Your application will be transferred by us to your preferred lender.


  • Having received your loan against property application, a representative from your chosen Bank/NBFC will call you to verify its details. A pick-up for the documents required will then be subsequently arranged by them at a place and time of your convenience.


  • As soon as your documents are collected and successfully verified, your loan against property application will be approved by the said lender.


  • Sign the loan agreement and the requested amount will be disbursed to your account.
Most banks/NBFCs provide loans against property only under a Floating Rate of Interest. I.e. the rate changes during the loan tenure based on the market scenario. A few provide under Fixed Rate of Interest as well. It’s imperative that the borrowers enquire about the rate and type of interest being provided by the lender before finalising.

Check the list below to know the current rate of interest on loans against property, offered by some of India’s leading banks and NBFCs.
In addition to the interest rates offered by various banks/NBFCs, there are many other factors that determine the Rate of Interest on loans against property.

  • Tenure of Loan: The longer the tenure, the lower the EMI. This is because lenders usually charge high interest rates in case of shorter tenures.


  • Credit Score: The higher the Credit Score, the lower the rate of interest. A high Credit Score indicates to the lender that the borrower is trustworthy and less likely to default on their payments.


  • Property Mortgaged: The age of the property mortgaged, its condition and present market valuation also determine the rate of interest for Loan Against Property.

Business expansion in your mind? Avail a loan against property at most lucrative interests rates.

Starting at 8.00% p.a.

Frequently Asked Questions

How is the value of the property calculated?

The value of the property put on mortgage to avail the loan is calculated based on its Fair Market Value(FMV). FMV is the price that a property would fetch in the open market under the curre... Know More

What is the maximum loan tenure under LAP?

The tenure for Loan Against Property is longer than that for a personal loan. It’s usually up to 15 years.... Know More

What are the kinds of properties accepted by lenders?

Loans Against Property can be taken against self-occupied/rented residential properties, commercial spaces such as office buildings, malls, shopping complexes, etc, and/or against a plot of... Know More

Can I prepay/foreclose my Loan Against Property in advance?

Yes. You can prepay your entire Loan Against Property or a portion of it in advance. Prepayment reduces the Principal amount, thereby reducing the monthly EMI. According to the RBI, no lende... Know More

Are there any tax benefits for repayment of Loans Against Properties?

Yes. Self-employed individuals can claim tax exemption from a LAP if the loan has been utilized for business purposes. The benefits can only be claimed against the total amount paid as inter...Know More