| L&T Housing Finance Loan Against Property Highlights | |
| Interest Rates | 9.60% p.a. onwards |
| Loan Amount | Up to Rs 20 crore |
| Tenure | Up to 20 years |
| Processing Fee | Up to 2% of loan amount |
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Table of Contents
L&T Housing Finance LAP Interest Rates
L&T Housing Finance LAP interest rates start from 9.60% p.a. onwards. The final interest rates offered to the applicants depend upon age, monthly income, job profile, employer’s profile, credit score, loan repayment history, etc.
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Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) |
| State Bank of India | 10.35-11.05 |
| Bank of Baroda | 10.55-16.20 |
| PNB Housing Finance | 9.65-13.00 |
| IDFC First Bank | 8.75-16.25 |
| HDFC | 9.35-12.25 |
| L&T Housing Finance | 9.60 onwards |
| LIC Housing Finance | 9.10-12.25 |
| Godrej Housing Finance | 9.75-14.50 |
| ICICI Bank | 9.75-10.90 |
| Tata Capital | 9.85 onwards |
| Bajaj Housing Finance | 9.85-10.80 |
| Axis Bank | 9.90-10.35 |
| Kotak Mahindra Bank | 9.15 onwards |
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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 |
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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
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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
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