We focus on your tomorrow.
We focus on your tomorrow.
IDFC First
Loan Against Property
Apply for IDFC First Loan Against Property for up to Rs 7 crore at low interest
rates starting at 7.35% p.a. You can avail customised Mortgage offers against
residential, commercial or industrial properties/ plots and lock attractive
 Loan Against Property Interest RateOther benefits include affordable EMIs,
extended tenure of 20 years & 50% waiver on processing fee. Apply online
for faster approval & disbursal to meet all kinds of personal or business needs.
IDFC First Loan Against Property Details
IDFC Loan AmountRs 10 Lakh to Rs 7 Crore
Interest rate7.35% p.a onwards
TenureUp to 20 years
Processing FeeUp to 3% of the loan amount
*50% waiver currently
Late Payment Penalty2% p.m of the unpaid EMI 
or Rs 300 (whichever higher)

Tip: Check free credit score before applying for a loan

IDFC First Loan Against Property: Features & Benefits
  • Avail customised IDFC First Mortgage Loan up to 80% of property value.
  • Individuals & non individuals, residents & non-residents can apply.
  • High value loans available against residential, commercial or industrial units.
  • IDFC First Loan Against Property amount ranges between Rs 10 Lakh to 7 Crore.
  • Maximum tenure for IDFC First LAP can go up to 20 years.
  • IDFC First Loan Against Property interest rates start at 7.35% p.a.
  • Currently lowest IDFC First Loan Against Property EMI is Rs 797 per lakh.
  • Maximum processing fee may go up 3%. A 50% waiver is also available on processing charge.
  • Non IDFC First LAP customers can opt for low cost IDFC Balance Transfer with top up.

Additional Info: You can also avail Loan Against Property without Income Proof and ITR

IDFC First Loan Against Property Interest Rates

IDFC First Bank offers customised loans against different types of properties. The lowest IDFC LAP interest rate is 7.35% p.a. The effective rate of interest for your LAP application depend on your repayment capacity, credit score and property value & location.

IDFC First Loan Against Property Eligibility Criteria

To apply for IDFC First Loan Against Property, meet following criteria:

  • You must have a stable income source. All profiles, including salaried individuals, self-employed professionals & non-professionals can apply.
  • Sole proprietorship/ partnership firm, company and business enterprises under the SME and MSME sector are also eligible for IDFC LAP.
  • Individual borrowers should be between 23 to 70 years (or till retirement).
  • The minimum business vintage required for the self-employed is 2 years.
  • Salaried borrowers should have minimum work experience of 5 years.
  • The lender will also assess past repayment record & cibil score.
  • Equitable loan value collateral is required which can be in the form of residential, commercial, industry plot or godown.

Additional Reading: Online cibil score check by pan number

Documents Required for IDFC First Loan Against Property
Type of DocumentSalariedSelf-employed
Address Proof (any one)Aadhar Card, Voter’s ID Card, Passport, Bank Account Statement, Electricity Bill, Telephone Bill
Photo ID Proof (any one)Passport, Driving License, PAN Card, Voter’s ID Card
Income Proof
  • Latest Salary Slip/ Salary Certificate
  • Latest Form 16 and ITR
  • Bank statement of salary account for last 6 months
  • Latest Audited Balance Sheet and P & L Account
  • Latest ITR with income computation
  • License under Shop Act for Proprietorship firm
  • Partnership Deed for Partnership Firm
  • MOA and AOA for Company
  • GST Registration Certificate
  • 6 months bank statements for loans up to 2 crore or else for 12 months.
Property Documents
  • Complete chain of property title deeds
  • Approved layout/ plan
Others
  • Details of ongoing loans, including sanction letter, amortization schedule or account statement, as applicable
IDFC First Loan Against Property Fees & ChargesIDFC First Loan Against Property Fees & Charges
Type of ChargeDescription
Processing feesUp to 3 % p.a.
Part prepayment charges
  • NIL for floating rate individual loans for personal use.
  • NIL for part prepayment up to 20% of principal outstanding. Allowed once, with a gap of 12 months.
  • NIL for fixed rate MSME loans up to 50 lakh
  • 4% of principal outstanding for floating rate non-individual or individuals with business use, applicable on loans with clear <=24 EMIs 
  • 3% of principal outstanding for floating rate non-individual or individuals with business use, applicable on loans with clear >24 EMIs
  • 5% of principal outstanding for fixed rate loans
Foreclosure charges
  • NIL for individual borrowers with personal use
  • NIL for fixed rate MSME loans up to 50 lakh 
  • 4% of principal outstanding for floating rate non-individual or individuals loans with business use, applicable for clear <=24 EMIs
  • 3% of principal outstanding for non-individual or individuals with business use, applicable for loans with clear >24 EMIs
  • 5% of principal outstanding for fixed rate loans
Switch FeesFor principal outstanding above 3 crore: Rs 5000 + GST
For principal outstanding below or equal to 3 crore: Rs 10000 + GST
EMI BounceRs 400 
Repayment Instrument SwapRs 500 
Document RetrievalRs 500
List of documentsRs 1000
Duplicate NOCRs 500 
StampingOn actuals
Penalty for delayed EMI payment2% p.m. 
or Rs 300 (whichever is higher)
Re-pricingHalf (%) of rate drop 
or Rs 10000 (whichever is higher)

Also Check: Commercial Cibil Report

How to Calculate IDFC First Loan Against Property EMI
  • Use IDFC First LAP EMI calculator to calculate loan monthly loan instalment instantly for free. Share loan amount, tenure and the rate of interest and submit query. The calculator will share EMI as well as amortization schedule.
  • You can use the EMI Calculator to assess loan affordability and make an informed decision. Here is a sample EMI calculation for IDFC First LAP for various tenures at lowest ROI: 7.35%
  • Additional Info: You can also Check Loan Against Property EMI Calculator
  • IDFC First Loan Against Property EMI Calculation:
  • Loan AmountEMI for 5 yearsEMI for 10 yearsEMI for 15 years EMI for 20 years
    10 Lakh199671179291857964
    20 Lakh39933235841837015929
    30 Lakh59900353762755523893
    40 Lakh79867471683674031858
    50 Lakh99834589604592539822
    60 Lakh119800707525511147787
    70 Lakh139767825446429655751
  •  
IDFC First LAP Comparison with Other Lenders
Bank/NBFCInterest RateProcessing Fee
IDFC First Loan Against Property7.35% onwardsUp to 3 %
HDFC Loan Against Property8.00% to 8.95%Up to 1 %
SBI Loan Against Property8.45 % onwardsUp to 1 %
Kotak Mahindra Bank Loan Against Property9.50% onwardsUp to 1 %
Bajaj Finserv Loan Against Property8.25% to 18 % p.aUp to 6%

Also Check: CIBIL full form

 
IDFC First Loan Against Property: Offers & Schemes
  • IDFC Bank offers customised mortgage schemes against all types of properties, such as:
  • Residential
  • Commercial
  • Industial 
  • Godowns
  • Customers can apply for IDFC First Bank’s Loan Against Property online or offline according to their preference. Online you need to provide minimal documentation, such as:
  • Income documents
  • Average bank balance
  • GST returns
  • Rental income
  • LAP Balance Transfer can be availed with Top Up, subject to meeting adequate collateral requirement.
IDFC First Loan Against Property Customer Care
  • Contact IDFC First Loan Helpline on 1860 500 9900
  • between 9:30 am to 6.00 pm on all working days, except second and fourth Saturday and bank holidays.
  • Registered Office
  • IDFC FIRST Bank Ltd
    KRM Tower, 7th Floor, No. 1,
    Harrington Road, Chetpet,
    Chennai – 600031, Tamil Nadu,
    India
  • Corporate Office
  • IDFC FIRST Bank Ltd
    Naman Chambers,
    C-32, G-Block,
    Bandra-Kurla Complex,
    Bandra East, Mumbai – 400051,
    India
  • Additional Reading: What is cibil score customer care number?

View and improve your credit score - for free.

SBI

Trending Loan Against Property

HDFC BANK

Loan Against Property

Annual Fee: ₹ 9,99,999.00

Joining Fee: ₹ 956.00

KOTAK MAHINDRA BANK

Loan Against Property

Annual Fee: ₹ 20,00,000.00

Joining Fee: ₹ 741.00

Previous
Next

The best offers from India’s most trusted banks

Pre-Approved ICICI Loan Against Property @8.35% p.a

ICICI bank loan against property up to Rs. 5 Crore can be availed of online as well as offline by salaried and self-employed applicants. The LAP can be for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers. 

Financial Tools

FAQs

SBI Loan Against Property

LAP without Income Proof and ITR

Home First Loan Against Property
HDFC Loan Against Property
ICICI Loan Against Property
Yes Bank Loan Against Property
IDFC First Loan Against Property
Bank of Baroda Loan Against Property
Bajaj Finserv Loan Against Property
RBL Bank Loan Against Property
Indiabulls Loan Against Property
Bank of India Loan Against Property
Federal Bank Loan Against Property
Allahabad Bank Loan Against Property
Tata Capital Loan Against Property
Aditya Birla Loan Against Property

SBI Bank Loan Against Property Interest Rates

HDFC Loan Against Property Interest Rates

ICICI Loan Against Property Interest Rates


CITIBANK Loan Against Property Interest Rates

PNB Loan Against Property Interest Rates

SBI Loan Against Property Eligibility

HDFC Loan Against Property Eligibility

PNB Loan Against Property Eligibility

CITIBANK Loan Against Property Eligibility

Apply for Home Loan

SBI Home Loan
HDFC Home Loan
ICICI Home Loan
Axis Bank Home Loan
Bandhan Bank Home Loan
PNB Home Loan
Kotak Mahindra Bank Home Loan
Bank of Baroda Home Loan
Bajaj Finserv Home Loan
CITIBANK Home Loan
Yes Bank Home Loan
DHFL Home Loan
IIFL Home Loan
Canara Bank Home Loan
PNB Housing Finance Home Loan
Federal Bank Home Loan
Tata Capital Home Loan
LIC Home Loan
RBL Home Loan
Navi Home Loan

error: Content is protected !!