Loan Against Property (LAP) Interest Rates from 9.55% p.a. Compare Lowest LAP Rates
A mortgage loan, also known as a Loan Against Property (LAP), is a secured loan that allows a borrower to unlock the value of their property for various financial needs. Whether you need funds for business expansion, personal expenses, or debt consolidation, LAP offers high-value funding at attractive interest rates as low as 9.55% p.a with flexible repayment options.
The applicable LAP interest rate depends on multiple factors such as your credit profile (CIBIL score), property type, income stability, loan tenure, and prevailing repo rate trends. Since this is a secured loan, lenders typically offer lower interest rates, making EMIs more manageable and ensuring affordable EMIs over a longer repayment period.
Compare Loan Against Property Interest Rates from Top Banks & NBFCs
Choosing the right lender can significantly impact your total repayment. Compare the latest low interest property loan options below:
| Bank / NBFC | Interest Rate (p.a.) | Processing Fees | Loan Amount | Tenure | Enquire Now |
|---|---|---|---|---|---|
| HDFC LAP Loan | 9.55% p.a onwards | 0.50% to 3% | Up to 100 Crores | 10 to 20 Years | Apply Now |
| Axis Bank LAP Loan | 9.55% p.a onwards | 0.50% to 1% | Up to 100 Crores | 0 to 10 Years | Apply Now |
| ICICI Bank LAP Loan | 9.55% p.a onwards | 0.00% to 1% | Up to 100 Crores | 0 to 15 Years | Apply Now |
| Kotak Mahindra Bank LAP Loan | 9.50% p.a onwards | 1.00% to 3% | Up to 100 Crores | 0 to 15 Years | Apply Now |
| Standard Chartered LAP Loan | 9.55% p.a onwards | 0.00% to 1% | Up to 100 Crores | 0 to 15 Years | Apply Now |
| Bajaj Finserv LAP Loan | 9.25% p.a onwards | 1.00% to 3% | Up to 25 Crores | 0 to 15 Years | Apply Now |
| SBI LAP Loan | 9.65% p.a onwards | 0.00% to 1% | Up to 100 Crores | 10 to 20 Years | Apply Now |
| IDFC FIRST Bank LAP Loan | 9.55% p.a onwards | 0.00% to 1% | Up to 1 Crores | 10 to 20 Years | Apply Now |
| Tata Capital LAP Loan | 9.65% p.a onwards | 0.00% to 1% | Up to 10 Crores | 10 to 20 Years | Apply Now |
| Yes Bank LAP Loan | 9.55% p.a onwards | 1.00% to 2% | Up to 10 Crores | 1 to 5 Years | Apply Now |
| Bank of Baroda LAP Loan | 8.95% p.a onwards | 1.00% to 3% | Up to 100 Crores | 1 to 5 Years | Apply Now |
| PNB LAP Loan | 10.00% p.a onwards | 0.00% to 0.75% | Up to 100 Crores | 1 to 5 Years | Apply Now |
| IndusInd Bank LAP Loan | 9.70% p.a onwards | 0.00% to 2% | Up to 1 Crores | 1 to 5 Years | Apply Now |
| Aditya Birla Finance LAP Loan | 9.85% p.a onwards | 1.00% to 3% | Up to 10 Crores | 1 to 5 Years | Apply Now |
| Poonawalla Fincorp LAP Loan | 9.55% p.a onwards | 1.00% to 3% | Up to 1 Crores | 1 to 5 Years | Apply Now |
| DCB Bank LAP Loan | 10.00% p.a onwards | 1.00% to 3% | Up to 5 Crores | 1 to 5 Years | Apply Now |
| Piramal Finance LAP Loan | 11.00% p.a onwards | 1.00% to 3% | Up to 10 Crores | 1 to 5 Years | Apply Now |
| Aadhar Housing Finance LAP Loan | 15.00% p.a onwards | 1.00% to 3% | Up to 1 Crores | 1 to 5 Years | Apply Now |
| L&T Finance LAP Loan | 9.45% p.a onwards | 1.00% to 3% | Up to 7.5 Crores | 1 to 5 Years | Apply Now |
Note: Interest rates are indicative and may vary based on borrower profile, lender policies, and market conditions.
Why Choose a Low Interest LAP Loan?
A low rate mortgage loan helps reduce your overall financial burden. Here’s why LAP is a preferred borrowing option:
- Lower interest rates compared to unsecured loans.
- High loan amounts based on property value.
- Longer repayment tenure (up to 20 years or more).
- Flexible usage of funds.
- Affordable EMIs for better financial planning.
Factors Affecting Loan Against Property Interest Rates
Understanding these factors can help you secure the lowest interest mortgage loan:
1. Credit Score (CIBIL)
A score of 750+ improves your chances of getting the lowest interest rates.
2. Income & Financial Stability
Higher and stable income indicates strong repayment capacity.
3. Loan Tenure
Longer tenure reduces EMI but increases total interest outgo.
4. Property Type
Residential properties typically attract lower rates than commercial or industrial properties.
5. Loan-to-Value (LTV) Ratio
Lower LTV (higher equity) results in better interest rates.
6. Employment Type
Salaried borrowers may receive slightly better rates than self-employed individuals.
Loan Against Property Interest Rates & Charges
| Criteria | Details |
|---|---|
| Interest Rate | Starting from 9.55% p.a. |
| Processing Fees | Up to 3% of loan amount |
| Loan Tenure | Up to 20 years or more |
| Minimum Credit Score | 700+ |
| Stamp Duty | As per state laws |
How to Get the Lowest Interest Rates on LAP
To secure a house mortgage loan at lowest interest, follow these tips:
- Maintain a high credit score (750+).
- Choose a balanced loan tenure.
- Compare lenders before applying.
- Provide complete and accurate loan against property documentation .
- Negotiate with lenders.
- Opt for balance transfer if better rates are available.
Tax Benefits on Loan Against Property
Tax benefits depend on the purpose of the loan:
- Section 37(1): If used for business purposes.
- Section 24(b): If used to purchase another property.
No tax benefits apply if the loan is used for personal expenses.
FAQs on Loan Against Property
What is the current loan against property interest rate?
Interest rates start from 9.55% p.a, depending on the borrower’s profile and lender policies.
Is LAP a secured or unsecured loan?
Loan Against Property is a secured loan, where your property is used as collateral.
What factors affect LAP interest rates?
Key factors include credit score, income, loan tenure, property type, and repo rate changes.
Are LAP interest rates lower than personal loans?
Yes, LAP offers lower interest rates than personal loans because it is backed by property collateral.
Can I get a low rate LAP loan with a low credit score?
It is possible, but you may be charged a higher interest rate.
Can I switch my loan to another lender?
Yes, you can opt for a balance transfer to get lower interest rates.
How can I reduce my EMIs?
You can reduce EMIs by:
- Extending loan tenure.
- Negotiating interest rates.
- Making partial prepayments.
If you have any other questions, contact us now 1800-572-2132
Note: Wherever the details regarding interest rates, processing fees and tenure are mentioned, they may differ as per the lenders' discretion. The actual eligibility will be determined based on the borrowers' risk profile during the loan application process.
Apply for Loan Against Property at Lowest Interest Rates
Get access to high-value funding with competitive rates and flexible repayment options.
- Compare lenders.
- Check eligibility.
- Apply LAP online in minutes.