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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 starting at low interest rates for tenures of up to 20 years. The loan amount for LAP can go up to 70% 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

Processing Fees

Bajaj Housing Finance

8.60% - 18.00%

Up to 1%

LIC Housing Finance

8.85% - 11.60%

0.5% of loan amount

Bank of Maharashtra

9.35% - 10.85%

1% of loan amount

Indian Bank

9.50% - 14.10%

Up to 1%

Bank of Baroda


TL: 1% (Min. Rs 8,500 per property; Max. Rs 1.5 lakh)
OD: Up to Rs 3 crores: 0.35% (Min. Rs 8,500 per property; Max. Rs 75,000)
Above Rs 3 crores: 0.25% (Min. Rs 8,500 per property; Max. No Limit)

State Bank of India


Up to 1% (maximum Rs 50,000)

Union Bank of India


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

UCO Bank

9.35% - 11.35%

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

Bank of India

10.25% p.a. onwards

Up to 1% (Min. Rs 5,000; Max. Rs 20,000)

Check Also:- Loan against property interest rates from other Banks & HFCs

Mortgage interest rates in the table are subject to the credit/ risk profile as assessed by the lender on the basis of parameters such as credit scores, age and repayment capacity of the applicant.

Loan against property interest rates from all lenders as of 22 September 2022. Mortgage loan interest rates in the table are subject to change anytime without prior notice.

To apply for a loan against property, you must meet the required eligibility criteria. While the eligibility criteria for availing LAP varies from provider to provider, 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 per annum

Work Experience

At least 1 year in the current organisation

Eligible Loan Amount

Up to Rs. 25 crore

Loan to Value

Up to 75% of property value

Credit Score

Preferably 750 and above

Property Type

Residential, Commercial and Industrial

Note: The information in the table is indicative, the actual values may vary depending on multiple factors including your credit profile, lender, property and location.

Before applying for mortgage loan, use loan against property EMI calculator to know how much EMI you can afford on a certain loan amount, interest rate and tenure. Your loan against property EMI should not put strain on your monthly expenses. Once you find the EMI, loan amount and tenure that you are comfortable with, click the Apply Now button to proceed for the loan against property application process.

  • 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 (NOC from Society/Builder, detailed estimate of the cost of construction of the house, registered sale deed, allotment letter, and an approved copy of the building plan)

Note: The above list is indicative. The lender may require additional documents at the time of loan against property application.

Check the complete list of documents required to apply for a property loan

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

Processing Fees

1% - 2% of loan amount

Administrative Charges

Rs 5,000 + GST or 0.25% + GST, whichever is lower

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 and property location.

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 financial institutions 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 financial institution.

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

Mostly, the tenure of a loan against property goes up to 15 years. However, this may vary from one lender to another.

Also Read: 3 Common Misconceptions about Loan against Property

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