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Loan-Against-Property

What is Loan against Property / Mortgage Loan?

Loan against property is a loan an individual can avail by mortgaging his property. A co-applicant is necessary for a person to apply for loan against property.

Loan Against Property can be used for

  • Marriage
  • Education
  • Business
  • Debt Consolidation
  • Purchase of Asset

Interest Rates – Loan Against Property (LAP)

Bank Rate of Interest Processing Fees
Axis Bank 9.00% – 12.50% 0.75% – 1.00% + Service Tax
ICICI Bank 9.00% – 12.50% 0.75% – 1.00% + Service Tax
IDFC Bank 9.00% – 12.50%% 0.75% – 1.00% + Service Tax
HDFC Ltd 9.50% – 12.50%% 0.75% – 1.00% + Service Tax
LIC Housing 9.50% – 12.50%% 0.75% – 1.00% + Service Tax
PNB Housing 9.50% – 12.50%% 0.75% – 1.00% + Service Tax
DHFL 10.00% – 15.00% 0.75% – 1.00% + Service Tax
Reliance 10.00% – 15.00% 0.75% – 1.00% + Service Tax
India Bulls 10.00% – 15.00% 0.75% – 1.00% + Service Tax
SBI Home Loan 10.00% – 15.00% 0.75% – 1.00% + Service Tax

Required Documents

  • Colour Photo
  • Last 6 months bank A/C statement
  • Age proof of co-applicant
  • Passport size photograph of the applicant & co-applicant
  • PAN Card Copy
  • Residence Address Proof

Loan Against Property FAQ

  • What is an Overdraft facility against property?
  • What is MCLR?
  • What is Lease Rental Discounting?
  • Is it mandatory to have a co-applicant when applying for a Home Loan? If yes, who can be a co-applicant for my Home Loan?
  • Will MCLR be different between Banks?
  • When is my EMI due?

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