| L&T Housing Finance Loan Against Property Highlights 2022 | |
| Interest Rates | 10.30%-10.90% p.a. |
| Loan Amount | Up to Rs 20 crore |
| Tenure | Up to 20 years |
| Processing Fee | Up to 2% of loan amount |
Table of Contents
L&T Housing Finance LAP Interest Rates
| Minimum Interest Rate | 10.30% p.a. |
| Maximum Interest Rate | 10.90% p.a. |
Compare LAP Interest Rates of L&T Housing Finance vs Other Lenders
| Name of the Lender | Interest Rate (% p.a.) |
| State Bank of India | 9.30-9.70 |
| Bank of Baroda | 9.15-14.80 |
| PNB Housing Finance | 7.99-11.00 |
| IDFC First Bank | 7.40-14.90 |
| HDFC | 8.25-11.20 |
| L&T Housing Finance | 10.30-10.90 |
| LIC Housing Finance | 8.35-11.10 |
| Godrej Housing Finance | 8.75-10.99 |
| ICICI Bank | 9.75-10.90 |
| Tata Capital | 10.10 onwards |
| Bajaj Housing Finance | 7.00-18.00 |
| Axis Bank | 8.90-9.10 |
| Kotak Mahindra Bank | 9.50-11.70 |
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L&T Housing Finance LAP Fees and Charges
| Processing Fee | Up to 2% of loan amount |
| Bounce Charges | Rs 1,000 |
| Foreclosure Charges | NIL |
| Pre-payment Charges | NIL |
| Loan Cancellation Charges | Rs 5,000 |
| Interest Rate Conversion Charge | 0.5% of balance amount or min. Rs 10,000, whichever is higher |
Types of L&T Housing Finance LAP
LAP on Residential Property
Purpose: Loan against self-occupied, rented and vacant residential property
Loan Amount: Rs 10 lakh-Rs 10 crore
Tenure: Up to 20 years
LAP on Commercial Property
Purpose: Loan to owners of commercial property for meeting their business and personal needs
Loan Amount: Rs 10 lakh-Rs 20 crore
LTV Ratio:
| Commercial Properties | LTV |
| Self-occupied | Up to 60% of market value |
| Rented | Up to 50% of market value |
Tenure: Up to 10 years
LAP on Industrial Property
Purpose: LAP facility offered to self-employed non-professionals owning manufacturing facilities in major industrial zones
Eligibility Criteria for L&T Housing Finance Loan Against Property
Salaried individuals and self-employed non professionals
Documents Required for L&T Housing Finance LAP
Photo ID Proof/Age Proof: Aadhaar card, PAN card
Address Proof: Driving license, passport, voter ID, Aadhaar card, utility bill, Registered Rent Agreement
Income Proof:
For Salaried:
- Salary account statement for 1 year
- Salary slips for last 3 months
For Self-employed Professionals/ Self-employed Non-Professionals:
- Latest ITR (personal and business) along with income computation
- Advance Tax Challans
- Bank account statement for past 1 year
- P&L account and balance sheet for last 2 years duly certified by CA
- Last 1 year bank account statement