Loan against property

Unlock the value of residential or commercial property you already own.

Apply for LAP

Amount

₹10,00,000 – ₹5,00,00,000

Tenure

24–60 months

Interest

24% per annum

Processing

1% of sanctioned amount

Who it is for

Resident Indian individuals, HUFs and eligible non-individuals who own residential or commercial property in India.
Clear, marketable title. Self-occupied, rented or vacant — subject to valuation and legal.
Age 18–70 at maturity, with demonstrated repayment capacity.
Not for purchase of the same property (that would be a housing loan). This is a mortgage of property already owned.

How we decide

Loan-to-value is computed on the lower of documented agreement value and independent valuation. The sanctioned LTV is written on the KFS. The Company does not finance 100% of property value.
Legal search of title; existing charges must be disclosed.
Rate is 24% p.a. as currently board-approved for this product. Any change is prospective only.
A Key Fact Statement is issued before the loan agreement. Cooling-off of 3 working days after sanction.
Interest is charged only from the date the loan amount is actually credited to the borrower’s bank account (or to a documented takeover beneficiary). Interest is not charged from the sanction date if funds have not moved.

Charges besides 24% and 1%

The 1% processing fee is exclusive of GST at the rate applicable on the date of debit. GST is shown separately on the KFS and is not built into the 24% p.a. rate.
Valuation, legal search, stamp duty, registration of mortgage and CERSAI filing are at actuals, paid to the valuer, counsel, government or registry — not retained as hidden yield. They appear on the sanctioned KFS before the agreement.
The current LAP is a fixed-rate facility. Foreclosure and part-prepayment terms, if any, are stated on the sanctioned KFS before the agreement and are never levied as additional interest. Floating-rate term loans to individual borrowers, if originated, carry no foreclosure charges, as required by the Reserve Bank.
Penal charges: nil at present. Overdue amounts continue to accrue contractual interest only.

Security, CERSAI, insurance

A charge over the mortgaged property will be registered with the Central Registry (CERSAI) as required by law. The borrower consents to this filing on the application.
Where the security is required to be insured, the borrower may choose any IRDAI-registered insurer and is not required to buy a policy from a company nominated by the lender.
Disbursal only to your own bank account, or to a documented takeover of an existing charge.
Sample KFS (English + Hindi) · Digital lending disclosures

Documents (Fair Practices Code)

The application form lists papers that affect the borrower. Incomplete files pause the 15-working-day decision clock.

Identity

PAN card (mandatory)
Officially Valid Document — Aadhaar / Passport / Voter ID / Driving Licence
Recent passport-size photographs of applicant (and co-applicant, if any)
Proof of current residence (utility bill / bank statement, not older than 2 months, if different from OVD)

Income

Last 6 months bank statements of salary / business account (PDF from bank)
Salaried: last 6 months salary slips and Form 16 / latest ITR
Self-employed: ITR with computation for last 2 assessment years, and GST returns if registered

Property

Registered sale deed / title documents and complete chain of title
Latest property tax paid receipts
Encumbrance certificate (typically last 13–30 years, as advised)
Approved building plan / occupancy or completion certificate where applicable
Latest electricity bill of the mortgaged property
Khata / mutation / jamabandi or municipal record, as applicable

Mortgage calculator

See the instalment before you apply.

Priced at 24% p.a. with 1% processing, tenure 24–60 months, amount ₹10 lakh to ₹5 crore. Figures are indicative. The sanctioned Key Fact Statement governs.

Amount₹25,00,000Tenure36 months

Equated monthly instalment

₹98,082

Interest (tenure): ₹10,30,957
Processing 1%: ₹25,000
APR: 24.75%
Total payable: ₹35,55,957

Apply with these numbers