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Take Loan against Property (LAP)

Fulfill your financial needs by getting a loan from the bank against the mortgage of your property.

Available for salaried and self employed profile

- Low EMIs

- Immediate Funds Availability

- Fast and Easy Loan Processing

- Speedy Approvals

- Flexible Tenure

- Simple and Hassle Free Documentation

- Easy Balance Transferring

Loan Against Property

Interest rates as low as 8%

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Loan Against Property
4.1 / 5 (17 Reviews)

Loan against Property (LAP), also known as mortgage loan, allows consumers to raise funds by leveraging their residential, commercial or industrial properties. Like unsecured personal loans, LAP can also be availed for meeting both personal and business needs other than speculative purposes. Banks and HFCs offer loan against property for tenures of up to 20 years. The loan amount for LAP can go up to 75% of the property’s market value, depending on the lender and the credit profile of the borrowers. Many lenders also offer Lease Rental Discounting (LRD) facility, which allows consumers to avail loan by pledging the rental receipts of their tenants.


Interest Rates (p.a.)

Processing Fees

Bank of India

11.25% onwards

Up to 1% of loan amount (Rs 5,000 - Rs 50,000)

Bajaj Housing Finance

8.50% - 18.00%

Up to 1% of loan amount

Bank of Baroda

10.85% - 16.50%

Up to 1% (Rs 8,500 upfront - Rs 75,000)

Bank of Maharashtra

10.45% - 11.95%

1% of loan amount

Federal Bank

12.60% onwards

1% of the limit sanctioned with a minimum of Rs. 3,000


8.95% - 10.25%

Up to 1.50% of loan amount or Rs 4,500, whichever is higher


10.85% - 12.50%

Up to 1% of loan amount

IDFC First Bank

9.00% - 16.50%

Up to 3% of loan amount

Indian Bank

10.00% - 12.60%

1% of loan amount

Indiabulls Housing Finance

9.75% onwards

1% onwards

Kotak Mahindra Bank

9.15% onwards

Up to 1% of loan amount

L&T Housing Finance

9.50% onwards

Up to 2% of loan amount

LIC Housing Finance

9.50% - 11.55%

Up to 1% of loan amount

PNB Housing Finance

10.40% - 12.75%

0.75% of loan amount (Max. Rs 1 lakh)

State Bank of India

10.60% - 11.30%

Flat Rs 10,000

Tata Capital

10.10% onwards

Up to 1.25% of loan amount

Union Bank of India

10.50% - 13.15%

Up to 1% of loan amount (Min. Rs 5,000 & Max. Rs 1 lakh)

UCO Bank

10.95% - 12.10%

0.50% of loan amount (up to Rs 2 lakh)

Note: Interest Rates as of 31st May 2023

Check Also:- Loan against property interest rates offered by other banks & HFCs

The eligibility criteria for availing LAP varies across lenders, below are some general conditions that must be fulfilled to apply for loan against property:

  • Residential Status: Resident Indian and Non-resident Indian
  • Minimum Age Limit: 18 years
  • Maximum Age Limit: 70 years
  • Employment Type: Salaried, Self-employed Professional and Self-employed Non-Professional
  • Minimum Salary: At least Rs. 12,000 per month
  • Net Annual Income: At least Rs. 1.5 lakh p.a.
  • Work Experience: At least 1 year in the current organisation
  • LTV Ratio: Up to 75% of property value
  • Credit Score: Preferably 750 and above
  • Property Type: Residential, Commercial and Industrial properties are eligible to be pledged as collateral. Lenders will also consider the age and condition of the property before accepting the property as collateral.
  • Proof of Identity (Passport Copy /Voter ID card /Driving License /PAN Card)
  • Proof of Residence (Ration card /Telephone Bill /Electricity Bill /Rental agreement /Passport copy /Bank Passbook or Statement /Driving License)
  • Proof of Age (PAN Card /Passport /any other certificate from a statutory authority)
  • Proof of Income for Salaried (Copy of Form 16, latest payslips, IT returns (ITR) of past 3 years, and investment proofs (if any)
  • Proof of Income for Self Employed (Details of ITR  of last 3 years, Balance Sheet and Profit & Loss Account Statement of the Company/Firm, Business License Details and Proof of Business Address)
  • Property-related Documents (Title Deeds including the previous chain of the property documents, Nil Encumbrance Certificate on the concerned property, approved plan [if applicable])

Read Also: The complete list of documents required for loan against property

Below are some of the general fees and charges that may be applicable to your mortgage loan.

Processing Fees

1% - 2% of loan amount

Part Prepayment Charges

Floating Rate: Nil
Fixed Rate: Up to 4% on outstanding principal

Foreclosure Charges

Floating Rate: Nil
Fixed Rate: Up to 2% on outstanding principal

Penal Interest

Usually at 24% p.a. (2% per month on the overdue installment/s)

Step 1: Provide basic details such as your mobile number, loan amount, property location, employment type, etc.

Step 2: Compare and apply from the list of offers.

Step 3: Wait for the loan experts to get in touch with you.

Q1.  Is it mandatory to have a co-applicant for availing LAP?

A co-applicant for a loan against property is mandatory only when the property being mortgaged is owned by more than one person. In such a case, all co-owners of the property need to apply as co-applicants.

Q2. What types of properties are accepted by lenders providing Loan Against Property (LAP)?

Different lenders have different criteria for the type of property to be accepted against a mortgage loan. However, mostly all lenders accept the residential, commercial or industrial property. It is important to note that the physical condition and age of the property may affect its acceptance by the lenders.

Q3. What is the maximum loan tenure available under LAP?

Mostly, the tenure of a loan against property goes up to 20 years. However, this may vary from one lender to another.

Q4. Can NRIs avail loans against the property?

Yes, there are several financial institutions that offer loan against property to NRIs.

Loan Against Property
4.1 / 5 (17 Reviews)

Loan Against Property

PaisabazaarSBI user all my life

State Bank of India Loan Against Property

I have been a SBI user all my life so when it came to opting for a bank for personal loan, SBI was my choice.

Posted on: Jul 5 , 2019
PaisabazaarGuaranteed service

Canara Bank Loan Against Property

I took personal loan for paying my son's fees and I can say that Canara bank provides excellent services.

Posted on: Jun 22 , 2019
PaisabazaarSmooth process

Allahabad Bank Loan Against Property

I am using Allahabad bank personal loan for second time. The process was done in a smooth way and I got it on time

Posted on: Jun 22 , 2019
PaisabazaarLower rate than personal loan

State Bank of India Loan Against Property

I was thinking to go for personal loan but got lesser ROI for loan against my property with easy process

Posted on: Feb 13 , 2019
PaisabazaarGood Customer Service Team

Loan Against Property

I certainly had in my mind to take loan against property some time back. But was not having much information about it that how to take and from where. Then I visited paisabazaar.com and believe me that all my solutions were under one roof. Their customer service team is very proactive as they p..Read more...

Posted on: Aug 17 , 2018

Loan Against Property

This website was very helpful. I gained good knowledge about loan against property schemes. I could research on what other banks are also providing. This helped me select my loan scheme and plan better. I have applied for a SBI loan against property and my loan got approved. Hope to receive my ..Read more...

Posted on: Jan 20 , 2017