Get Loan Against Property @ NaN% p.a onwards.
Looking for funding towards your child’s education, or managing your wedding expenses, expanding your business, or even handling your medical expenses, take a loan against residential or commercial properties from FinMarket at attractive interest rates.
What is LAP Loan?
Loan Against Property (LAP) is a type of secured loan provided against the security of a property legally owned by the applicant. This property can be either residential or commercial, and its market value determines the potential loan amount that will be granted to the borrower. You can avail of loans of up to Rs.5 crore for a tenure of up to 20 years.
Features & Benefits of Loan Against Property:
- The salaried professionals can opt for a tenure ranging from 5 to 20 years.
- Avail balance transfer & top-up loan facility.
- Low EMI with longer repayment tenure of up to 20 years.
- The annual interest rate is as low as at NaN%* onwards.
- Loan amount up to ₹5* Crores.
- Get funded in your bank in 72 hours*.
- Funding up to 70%* of the property valuation.
- Opt for a long tenure for repayments and pay lower EMIs every month.
- Lowest interest from top banks to make your LAP/Mortgage loan more affordable.
- Fast and easy loan processing with hassle-free documentation.
- Provides Loan against property (LAP) for business as well as personal needs.
- No prepayment and foreclosure charges.
*T&C Apply.
Looking for funding towards your child’s education, or managing your wedding expenses, expanding your business, or even handling your medical expenses, take a loan against residential or commercial properties from FinMarket at attractive interest rates.
What is LAP Loan?
Loan Against Property (LAP) is a type of secured loan provided against the security of a property legally owned by the applicant. This property can be either residential or commercial, and its market value determines the potential loan amount that will be granted to the borrower. You can avail of loans of up to Rs.5 crore for a tenure of up to 20 years.
Features & Benefits of Loan Against Property:
- The salaried professionals can opt for a tenure ranging from 5 to 20 years.
- Avail balance transfer & top-up loan facility.
- Low EMI with longer repayment tenure of up to 20 years.
- The annual interest rate is as low as at NaN%* onwards.
- Loan amount up to ₹5* Crores.
- Get funded in your bank in 72 hours*.
- Funding up to 70%* of the property valuation.
- Opt for a long tenure for repayments and pay lower EMIs every month.
- Lowest interest from top banks to make your LAP/Mortgage loan more affordable.
- Fast and easy loan processing with hassle-free documentation.
- Provides Loan against property (LAP) for business as well as personal needs.
- No prepayment and foreclosure charges.
*T&C Apply.
Documents required for Loan Against Property :
| Salaried Employees | Self Employed |
|---|---|
| Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority) | Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority) |
| Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority) | Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority) |
| Latest Salary-slips for 3 months | Certificate & Proof of business existence along with Business Profile |
| Form 16 for last 2 years | Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant |
| Last 6 months Bank Statements(salary account) | Last 12 months Bank Account Statements (self & business) |
| Photocopy of Title Documents of the Property, Approved Plan | Photocopy of Title Documents of the Property, Approved Plan |
Submit all the above-required documents for hassle-free and fast loan process approval.
Top Banks Loan Against Property Interest Rates
| Banks/NBFC Names | Interest rates | Processing Fees |
|---|---|---|
| HDFC Bank | 10.25% p.a onwards | Up to 3% |
| ICICI Bank | 10.25% p.a onwards | Up to 1% |
| AXIS Bank | 10.25% p.a onwards | Up to 1% |
| Bank Of Baroda | 10.55% p.a onwards | Up to 3% |
| PNB | 10.40% p.a onwards | Up to 0.75% |
| IIFL Bank | 11.40% p.a onwards | Up to 2% |
| Bajaj Finserv | 10.25% p.a onwards | Up to 3% |
| Tata Capital | 10.25% p.a onwards | Up to 1% |
| SMFG India Credit (Fullerton) | 19.25% p.a onwards | Up to 2% |
★The annual interest rates and processing fee are subject to change as per the customers' profile and lenders policy.
Reasons to avail LAP loan with FinMarket
We are passionate about providing more reliable, faster, smarter financial solutions to our customers online.
- Minimum Documentation: Enjoy the hassle-free experience with minimal documentation, doorstep document pick up at your desired location and no bank visits.
- Low Processing Fees: Check processing fee if any ahead of time and there will be no other hidden charges.
- Complete Secure Process: The information provided will be highly secured and used only for pulling credit reports. We use safe & secure links to protect your sensitive information.
- Fast Approval: Apply for instant approval of Loan Against Property and enjoy significant speeds up in the application process.
Eligibility Criteria for LAP Loan
| Parameters | Eligibility Standards |
|---|---|
| Nationality | Indian Residents (salaried/ self-employed) can apply. |
| Age limit | Individuals with a minimum age of 20 years and maximum up to 60 years. |
| Net Take-Home Salary |
|
| Type of Employment and History |
|
| Loan-to-Value (LTV) |
|
| CIBIL Score | Banks consider 720 and above credit score to be eligible for a mortgage loan. |
How it Works
Check Eligibility
Submit your details and check your lap Loan eligibility.
Choose a Lap Loan Type
Pick the best lap Loan which suits your needs and lifestyle.
Get Approved Instantly
Apply and get your lap Loan in no time.