Loan Against Property Interest Rates

Loan Against Property can be taken for following purposes:

✔ Expanding your business
✔ Get your child married
✔ Send your child for higher studies
✔ Fund your dream vacation
✔ Fund Medical Treatments

Characteristics of a Loan against Property

✔ Cheaper than Personal Loans: It works out to be much cheaper than a personal loan, which is usually issued at interest rates in the region of 16% – 21%.
✔ Longer Loan Tenure: The tenure for a Loan against Property is usually longer than that for a personal loan. Generally, LAP is given for a maximum tenure of 10 years.
✔ Lower EMI: Since the rate of interest is lower, many times, LAP Equated Monthly Installments (EMI) turn out to be cheaper than those under personal loans.
✔ Simple documentation and Fast Approvals: LAP being a secured Loan has comparatively faster approvals and minimal documentation

Percentage of loan that you can get on different types of property is listed below:

Residential Property:-
Self Occupied – 65%
Vacant – 55%
Rented – 55%
 Commercial Property:-
Self Occupied – 50%
Vacant – 40%
Rented – 40%

Note: The amount of loan available against property varies from bank to bank in the range of 5-10%

Loan Against Property Interest Rates
(Last updated on20 December 2016)
Banks up to 30 lacs 30-75 lacs 75 & above Processing fees Apply
HDFC 10.35% – 12.35% 10.35% – 12.35% 10.35% – 12.35% Up to 1.25% of the loan amount or Rs. 3,000 whichever is higher, plus applicable taxes.
Ing vysya N.A N.A N.A 1%
SBI 10.65% – 11.65% 10.65% – 11.65% 10.65% – 11.65% 2.00% or Rs.50,000 Maximum
ICICI BANK N.A N.A N.A 0.50% – 1.00% of the loan amount or Rs.2000 whichever is higher
AXIS BANK 11.60% – 12.25% 11.60% – 12.25% 11.60% – 12.25% 1% + Service tax as applicable
PNB HFL 11.25% – 13.00% 11.25% – 13.00% 11.25% – 13.00% N.A
FedBank 12.22% – 15.47% 12.22% – 15.47% 12.22% – 15.47% N.A
INDIABULLS 11.00% – 14.50% 11.00% – 14.50% 11.00% – 14.50% Up to 1.50% of the loan amount + S. Tax as Applicable
DCB 13.50% 13.50% 13.50% 1% + service Tax or Min 5000/-
Standard Chartered 10.75% – 11.00% 10.75% – 11.00% 10.75% – 11.00% Up to 1% of the sanctioned amount
Citibank 10.25% – 11.50% 10.25% – 11.50% 10.25% – 11.50% N.A
IDBI Bank 10.95% – 12.45% 10.95% – 12.45% 10.95% – 12.45% Up to 1% of the loan amount plus service tax as applicable
Deutsche Bank 11.75% – 13% 11.75% – 13% 11.75% – 13% 1% + service tax
Central Bank 14.25 N.A N.A 0.50 % of Loan Amount subject to maximum of Rs.40,000/- and Rs.20,000/- respectively at the time of sanction.
HSBC 10.50% – 10.90% 10.50% – 10.90% 10.50% – 10.90% 1% of the loan amount sanctioned or Rs. 10,000, whichever is higher
DHFL 13.75% 13.75% 13.75% 0.5% to 2% + Service Tax (case to case basis
LIC HFL 11.00% 11.00% 11.00% 2500 + Service Tax
FULLERTON 13% 13% 13% 1% of the loan amount
RELIANCE 13.50% 13.50% 13.50% 1%
EDELWIESE N.A N.A N.A Up to 2% of Loan Amount
Bank of India 11.20% – 11.70% 11.20% – 11.70% 11.20% – 11.70% 1% of sanctioned loan amount Min. Rs.5, 000/- and Max. Rs.50, 000/-.Plus S.T.
Tata capital 12.00% – 15.00% 12.00% – 15.00% 12.00% – 15.00% vary depending on the particulars of your loan
Magma housing finance N.A N.A N.A At actuals as per loan sanctioned amount
Kotak Upto 16% Upto 16% Upto 16% Upto 2% of Loan amount
Chola Mandalam 12.6% – 29.00% 12.6% – 29.00% 12.6% – 29.00% N.A
HDBFS 11.00% – 20.00% 11.00% – 20.00% 11.00% – 20.00% 1.50% of loan amount
Bajaj Finserv N.A N.A N.A Up to 2% of the loan amount
Uco bank 11.60% – 12.60% 11.60% – 12.60% 11.60% – 12.60% N.A
Canara Bank 9.65% 9.65% 9.65% 1% of loan amount with a minimum of Rs.5000 and maximum of Rs. 50,000