Loan Against Property (LAP): Overview
A loan against property is a loan against your house or even a plot. If all the land titles are in place, you have an income and you are eligible then this is the cheaper loan option for you. Though the interest rates on this loan are higher than that of a home loan, it's cheaper than that a personal loan or a loan against security.
LAP: Documents Required
LAP: Eligibility Criteria
LAP : E.M.I
Get Loan Against Property Offers
A maximum of 5 providers will compete to give you the best rates (Feb 2012)
Loan Against Property of over Rs. 780.26 crores applied for in 2012
Bank/Product Name
Interest Rate (% p.a.)
Loan Eligibility (Rs. in Lacs)
EMI (Rs.)
Interest Rate Type
Loan Against Property-Commercial
11.75-12.25
31.5
44,237-44,742
Fixed
HDFC Ltd-Commercial
13.25
22.5
45,763
Floating
LIC Housing Finance - Commercial
13.75
18 - 22.5
46,278
Floating
ICICI Bank - Commercial
13.75
18 - 22.5
46,278
Floating
Dhanalakshmi Bank Ltd. - Commercial
13.75-15.0
22.5
46,278-47,580
Floating
Citi Bank - Commercial
14.0
31.5
46,537
Floating
Apna Sahakari Bank Ltd - Commercial
14.0
22.5
46,537
Fixed
Axis Bank - Commercial
14.0
20.25
46,537
Floating
Bank of Maharashtra - Commercial
14.1
22.5
46,640
Floating
PNB Housing Finance Ltd - Commercial
14.25
22.5
46,796
Floating
LAP versus
Decision-making Corner
- LAP Comparator
- LAP Interest Rates
- Floating or Fixed Interest Rate Calculator
- EMI Calculator