Loan Against Property
Table of Contents ToggleMortgage Loan | Mortgage Loan | Processing fee | Loan Amount (Rs) | Maximum |
Kvs bank | 10.70% | Rs 5,000-50,000 | Up to 50% of the property’s value (Maximum | 7 |
SBI | 9.95%-11.55% | 1% of the loan amount (Maximum Rs 50,000) | 10 lakh-7.0 crore | 15 |
Syndicate Bank | 11.60% | 0.5% of loan amount (Minimum Rs 500) | Up to 50% of the property’s realisable value | 10 |
Pnb Housing | 10.85%-12.85% | 1% of loan amount | 10 lakh-5 crore | 12 |
Kotak Mahindra Bank | 9.90%-10.65% | Up to 2% of loan amount | 10 lakh-5 crore | 15 |
ICICI Bank | 10.20%-11.95% | 1% of loan amount | 10 lakh-5 crore | 15 |
Axis Bank | 11.35%-11.85% | 1% of loan amount (Minimum Rs 10,000) | 5 lakh-5 crore | 20 |
Fullerton india | 11.90%-18.15% | 1.5% of loan amount (Minimum Rs 3,000) | Up to 5 crore | 15 |
HDFC Ltd. | 10.65%-12.40% | Up to 1.5% of Loan amount | Upto 60% of the property’s market value | 15 |
IIFL | 12.50%-22.00% | Up to 3% of loan amount | Up to 10 crore | 15 |
Adhar Housing | 11.30%-18.30% | 1% of loan amount | Rs 5 lakh onwards | 15 |
Vastu Housing | 11.00% onwards | Up to 4% of loan amount | Up to 75% of property’s | 20 |
LAP Interest Rate Calculator
LAP interest rate calculator helps you get the approximation of the loan amount you are eligible for and the interest rate at which you can borrow the loan against your commercial or residancial property. The rate of interest for the loan is depends on the customer’s profile, which covers company name, salary, cibil history, etc.
Below mentioned are the top leading lenders providing LAP at lowest interest rates, features and benefits:
SBI Mortgage Loan Interest Rates
Any individual employee / professional & self-employed and other can apply for Loan Against Property with State Bank of India. Loan should be liquidated before the age of 70 yrs of the borrower.
Loan against property Interest rate: 9.50% onwards
- Loan Amount: Min Rs. 10 Lakhs
- Loan Amount Max: Rs. 10 Cr (depends on property location and valuetion)
- Min salary requirement: Rs. 25000/- per month/3 years itr with financial min turnover 35 lacs
- Processing Fee: Upto 1.5% of loan amount+ taxes, maximum Rs. 50,000 + taxes
Max: 60% of market value of property subject to EMI/NMI not exceeding 50% with a ceiling:
- For Tier I and Tier II Cities (list annexed-I) : Max: Rs 2.00 Cr
- Rest of India: Max : Rs 1.00 Cr
- Max Rs: 50 lacs for the State of Orissa, West Bengal, Meghalaya, Mizoram, Arunachal Pradesh, Assam, Tripura, Manipur and Nagaland but excluding those cities which are covered under Tier I and II cities given in Annexure – I
HDFC bank LAP Interest Rates
HDFC offers higher Loan amount with Lower EMI (Equated Monthly Instalment) for personal or professional use. It provides flexible repayment – Option to choose between Dropline Overdraft Facility and EMI based loan. And, it has specially designed programs for the Self Employed.
Loan against property Interest rate: 9.50% onwards
Marginal Cost Lending Rate (MCLR): 9.50%
Charges |
Loan Against Property / Loan
|
Loan Against Rent Receivables |
Dropline Overdraft Against
|
Rack Interest Rate Range |
MCLR + 1.20% |
MCLR + 1.20% |
MCLR + 1.70% |
9.60% to 10.50% |
9.60% to 10.50% |
10.10% to 11.00% |
Bank IRR |
APR |
||||
Min. |
Max. |
Avg. |
Min. |
Max. |
Avg. |
8.50% |
11.80% |
9.50% |
8.50% |
11.86% |
9.54% |
There can be other charges also associated with the same such as prepayment, late payment, bounce cheque, stamp duty etc.
ICICI Mortage Loan
ICICI Loan against property safeguards your personal and business dreams. It comes with attractive interest rates and faster processing. The tenure is up to 15 years and can be availed against commercial / residential property availed for Starting a new business, long term working capital, funding children’s higher education or repaying your high interest debts.
Loan against property Interest rate: 11.25% onwards
- Loan Amount: Min: Rs. 10 lakhs
- Loan Amount: Max: Rs. 25crores
- Maximum Tenure: 15 years
- Pre-closure charges: Upto 4.5% of loan amount
Axis Bank Loan Against Property
Axis Bank offers loan against property wherein you can put your commercial or residential property as collateral.
Loan against property Interest rate: 11.30%
onwards
- Loan Amount: Min: 5 lakhs
- Loan Amount: Max: 12 crores
- Maximum Tenure: 20 years
TATA Capital LAP
TATA Capital is considered as one of the leading lenders of loan against property which can be used for personal use and are offered at attractive interest rate.
Loan against property Interest rate:10.50%
onwards
- Loan Amount: Min: 1lakh
- Loan Amount: Max: 3crores
- Maximum Tenure: 15years
- Pre-closure Fee: Up to 2%of loan amount
Loan against property has always been a handy option for people who own residential or commercial property. Getting loan becomes easy as collateral is provided and further is considered as less risky for lenders to sanction loan to applicants.