Loan Against Property
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Advantages of Loan Against property

Also Known As "LAP" or Mortgage Loan or Property Loan or Home Equity Loans

Learn how to use a Loan Against Property

Consolidate debt

Loan against property interest rates are lower as it is secured against your property. You could use it to consolidate your other loans against LAP.


Fulfil your family commitments pertaining to wedding with lower loan against property interest rates.


Travel the world with low loan against property interest rate rather than blocking your own funds.

Medical expenses

Meet emergency medical expense through property loan financing.

Business loan

Fund your business capital loan needs with low mortgage loan interest rate.

Education funding

Finance your education loan with loan against property to get lower interest rate benefit.

Loan Against Property Interest Rates in India

A ready reference of the current mortgage interest rates and its associated charges:

BANK/NBFC Interest Rate Processing Fees
ICICI BANK 9.7% onwards 0.5% of loan amt.
HDFC Bank 10.5% onwards 0.5% of loan amt. or Max. Rs. 10,000
AXIS BANK 9.75% onwards 0.25% + ST
INDIABULLS 10% onwards 1%
DHFL 10.25% onwards 1%
LIC HFL Upto 1 Cr - 10.50%; 1cr to 3 cr 10.80%; 3 cr to 5 Cr 11% Govt Emp- Rs 1000 + ST, Others Rs2500+ST
PNB HFL 10.25% onwards Rs 10000 for salaried / 0.50% for self employed
TATA CAPITAL 11.25% onwards 1%
CITIBANK Salaried :10.00% and Self Employed :Upto 1 Cr 10%, 1 Cr to 3 Cr 9.75%, Above 3 Cr 9.5% 0.25%

Note: Charges vary from bank to bank. These are only indicative and subject to periodic changes.

Know about Loan Against Property
Also known as Mortgage Loan or Property Loan or simply 'LAP'

Loan against property is simply loan given against the security of one's property. One can use the market value of one's existing property to fulfil any financial requirement. Such collateral property must be free from any encumbrance (i.e. it is not given as colateral for any other purpose).
One can take out a loan against property against one's self occupied residential or commercial property, for business expansion, plan a wedding, or fund one's child's education, travel the world and much more. However, one needs to give a declaration stating that these funds will not be used to carry out any illegal activities or for any speculative purpose. The loan is usually given as a percentage of the property's market value (which is around 60 per cent- 80 per cent

Loan against property is usually given as a percentage of the property's market value (which is around 60 per cent- 80 per cent of the property. Other factors like your income, savings, investments, employment history, age, number of dependents, spouse’s financial health, existing loans in your name are also taken into consideration in determining the loan amount.

Loan against property can be used for both business or personal use. However, a home loan has to be used to buy a residential property only.

One can take out a Loan against Property against a Residential or Commercial Property as collateral. One can also use a owned a plot of land to provide as colateral.

You can expect banks to charge the following at the time of processing your property loan application :
1. Self owned-residential or commercial property can be mortgaged to secure the loan.
2. Long loan tenure helps in keeping the EMI lower.
3. Typically,between 60-70% of the value of the property is sanctioned as loan. Once mortgaged with the lender, the borrower is still allowed to continue using it for residential or commercial purposes.

The following are the mortgage loan eligibility factors:
1. The borrower must be an Indian Resident
2. Minimum age - 21 years
3. Valid government issued identity proof
4. A good credit history
5. The applicant must have stable financial /income record for the tenure specified by the bank.

The following documents are required for property loan
1. Know Your Customer Documents (PAN Card, Aadhaar Card,)
2.Address proof like utility bills
3. Employment Proof/Business Proof
3. Last six months Bank Account Statement.
4. Income tax Return (ITR).
5. Pay slips of the last 3 months
6. Property Documents

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