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Loan Details
Loan Against Property EMI Calculator
Calculate your EMI and total interest for a loan against property with flexible repayment options.
Instant Approval
No Hidden Charges
100% Digital Process
Representative Example:
Borrow ₹50,00,000 over 12 months at 25.8% APR. Total repayment: ₹57,25,970.74 with monthly EMIs of ₹4,77,164.23.
EMI Calculator
₹50,00,000
12
25.8%
Monthly EMI
₹4,77,164.23
Total Interest
₹7,25,970.74
What is a Loan Against Property?
A Loan Against Property (LAP) is a secured loan where you pledge your residential or commercial property as collateral to avail funds. It is often referred to as a mortgage loan.
Since the loan is secured, lenders typically offer lower interest rates compared to personal loans, with long repayment tenures ranging from 10 to 15 years (or even up to 20).
Eligibility is based on:
- Market value of the property (LTV ratio 60-70%)
- Clear legal title of the property
- Applicant’s income & repayment capacity
- Property age and condition
LAP allows you to unlock the dormant value of your property while continuing to occupy it.
Financial Guide
LAP Interest Rates
Loan Against Property rates start from 8.75% to 10.50% p.a. Since it is a secured loan, the rates are much cheaper than personal loans.
Tips for Loan Against Property
unlocking the value of your real estate requires understanding valuation and usage:
1
Property Legal Status
Ensure your property has a clear title, approved map plans, and OC (Occupancy Certificate). Illegal constructions reduce loan eligibility.
2
LTV Restrictions
Unlike home loans (90%), LAP usually funds only 60-70% of the property's market value. Plan your requirements accordingly.
3
Residential vs Commercial
Interest rates and LTV ratios are generally better for residential properties compared to commercial or industrial plots.
4
Tenure Selection
LAP offers tenures up to 15 years. While this reduces EMI, it increases total interest. Choose the shortest affordable tenure.
5
End-Use Declaration
You must declare the end-use of funds (business expansion, marriage, medical). It cannot be used for speculative purposes.
LAP Eligibility Criteria
Eligibility criteria Criteria depend heavily on the property value and usage:
Property Ownership: Applicant must be the owner/co-owner of the property.
Property Type: Residential, Commercial, or Industrial properties with clear titles.
Market Value: Loan amount is usually restricted to 60-70% of market value.
Income: Regular income source to service the EMI.
Age: 21–65 years (up to 70 for self-employed).
LAP Fees and Charges
Secured loans like LAP have a detailed fee structure:
| Particulars | Charges |
|---|---|
| Processing Fees | 0.5% to 1.5% of loan amount |
| Valuation Charges | ₹ 2,500 - ₹ 5,000 (paid to external valuer) |
| Legal Scrutiny | ₹ 3,000 - ₹ 6,000 |
| Foreclosure | Nil for individual borrowers on floating rates |
| Statement Charges | ₹ 500 for physical copy |
Other fees and charges levied by the lenders include documentation charges, verification charges, duplicate statement charges and NOC certificate charges.
Loan Against Property vs Personal Loan
Comparing secured property loans against unsecured personal loans.
| Loan Against Property | Personal Loan |
|---|---|
| Interest Rate: 8.5% - 10% | Interest Rate: 10.5% - 16% |
| Tenure: Up to 15 Years | Tenure: Up to 5 Years |
| Loan Amount: High (Crores) | Loan Amount: Capped (Lakhs) |
| Processing: 10-15 Days | Processing: 24-48 Hours |
Unlock High-Value Capital with LAP
Your property is a goldmine. Loan Against Property allows you to access large funds for business expansion, weddings, or medical needs at interest rates much lower than personal loans. We help you get the highest valuation for your property.
Why Opt for Loan Against Property?
- High loan amounts up to ₹5 Crores
- Low interest rates starting from 8.5%
- Long repayment tenure up to 15 years
- Continued usage of your property while funded
- Acceptance of residential and commercial properties
- Funding against plot/land available
Variants of Loan Against Property
Leverage your real estate asset for high-ticket funding needs.
Documents for LAP
Since this is a secured loan, property papers are as important as income papers.
| Requirements | Salaried | Self-Employed |
|---|---|---|
| Property Papers | Title Deeds, Prior Chain Deeds, Property Tax Receipts | Title Deeds, Prior Chain Deeds, Property Tax Receipts |
| Income Proof | Last 3 months Salary Slips, Form 16 | Last 3 years ITR, P&L, Balance Sheet |
| Bank Statements | 6 months salary account statement | 6 months current account statement |
LAP Critical Points
Valuation vs Disbursement
- Loan amount is based on the bank's valuation, not market asking price.
- LTV is capped at 60-70% for LAP (lower than Home Loans).
Property Usage
- Self-occupied residential properties get the best rates.
- Commercial or rented properties may attract higher interest rates.
Processing Time
- Takes longer than personal loans due to legal & technical verification.
- Expect 7-15 days for disbursement.
Tenure
- Available for up to 15 years.
- Longer tenure reduces EMI but increases total interest cost.
Loan Against Property Rates
Unlock high-value funds at rates cheaper than personal loans by pledging your property.
| Lender | LAP Interest Rates |
|---|---|
| Godrej Capital | 9.00% onwards |
| PNB Housing | 9.25% onwards |
| HDFC Bank | 9.50% onwards |
| Cholamandalam | 10.00% onwards |
Property Eligibility
Property must have a clear title and approved map plan.
Self-occupied residential properties get the highest LTV (Loan to Value).
Commercial properties usually attract slightly higher interest rates.
Steps to Mortgage Your Property
Get a legal opinion on your property documents.
Ensure all property tax receipts are up to date.
Bank will send a valuer to assess the market price.
Loan amount is sanctioned based on lower of Market Value or Repayment Capacity.
How to Calculate Loan Against Property EMI Online?
You can calculate your loan against property EMI using a free online loan against property EMI calculator. You just need to enter your interest rate, loan amount and tenure in the calculator to get instant and accurate results.
Loan Against Property vs Personal Loan
Comparing a secured mortgage loan against an unsecured personal loan.
| Parameter | Loan Against Property | Personal Loan |
|---|---|---|
| Interest Rate | 8.50% - 10.50% | 10.50% - 16.00% |
| Tenure | Up to 15 Years | Up to 5 Years |
| LTV Ratio | 60-70% of Property Value | Multiplier of Monthly Income |
| Processing Time | 10-15 Days (Legal check) | Instant / 2-3 Days |
Unlocking Property Value
Suresh Patel — Business Emergency
"I needed a large sum of Rs. 2 Cr for my factory. Personal loans were too small. I mortgaged my residential property through Six Finance and got funds at just 9.5% interest for 15 years."
Meera Joshi — Child's Marriage
"Instead of breaking my FDs, I took a Loan Against Property. It was cheaper than a personal loan and gave me the flexibility to pay over a longer tenure."
Getting the Best LAP Deal
Mortgaging property is a big decision. Keep these in mind:
- Ensure the property has no legal disputes or encroachments.
- Self-occupied residential properties get the lowest interest rates.
- Apply for a Drop-line Overdraft (DOD) if you need working capital.
- Co-owners of the property must be co-applicants on the loan.
- Check the LTV ratio; commercial properties get lower funding.
LAP Quick Facts
- Cheaper than personal loans by 2% to 5%.
- Tenures extend up to 15 years, lowering the EMI burden.
- Funding is usually 60-70% of the property's market value.
- Processing takes longer (10-15 days) due to legal checks.
- Can be used for any purpose except speculative activities.
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