Loan Against Property: Apply Online for LAP in India

ABCL, A Pillar of the Global Aditya Birla Group

66,500 EMPLOYEES

1,759 BRANCHES

₹ 7.53 Lakh Cr ASSETS UNDER MANAGEMENT

₹ 2.19 Lakh Cr CONSOLIDATED LENDING BOOK

Reasons To Get Loan Against Property

High loan-to-value ratio (LTV)

You can borrow up to 75% of the market value of your property, which can provide you with a significant amount of funding.

Quick processing times

Experience quick and efficient loan processing to access funds promptly.

Get Instant Digital Sanction

Get Instant Digital Sanction for your top-up home loan applying at your convenience anytime anywhere on ABCD app.

Our Offerings

Check out the different options available with us under Loan Against Property

Buy Online

Commercial

Pledge your commercial property and get a loan against its value.

Industrial

Have an industrial property to your name? Get a loan against its value and fund your needs.

Loan Against Plot Commercial

Loan available against a commercial plot of land at attractive interest rates.

Loan Against Plot Residential

Get a loan against a residential plot of land and meet the different financial needs that you might have.

Plot Purchase

Use the loan to buy a plot of land for your residential or commercial needs.

Residential

Get a loan against your residential property and get the funds that you need with flexible repayment tenures.

Micro LAP

A loan designed for the rural areas to cater to their specific financial needs.

Who Can Apply For Loan Against Property?

Every responsible person is beholden to buy insurance for himself and hisfamily in today's uncertain times.

Salaried

Self Employed Professional

Self Employed Non-Professional

Compare Our Loan Against Property Products

A quick glance at how different Loan Against Property options differ from each other

Product Type	Commercial	Industrial	Loan Against Plot Residential	Residential
Best For	SMEs, entrepreneurs, business owners	Manufacturers, warehouses, import and export companies	Homebuyers, property developers, individual plot owners	Retirees, pensioners, debt consolidators
Tenure	Upto 15 years	Upto 15 years	Up to 10 years	Up to 15 years
Interest rate	9.35% -17.5% p.a.	9.85% - 12.60 % p.a.	8.85% - 16.5% p.a.	8.85% - 16.5% p.a.
Credit Score Required	>=650 & NTC	>=650 & NTC	>=650 & NTC	>=650 & NTC
Balance Transfer Facility	Yes	Yes	Yes	Yes
Tax Benefits	NO	NO	NO	NO

Disclaimer: The interest rate constitute the rack rate for all customers. Actual interest rate for any customer and will be as communicated at the time of loan sanction and disbursal. It will be subject to changes from time to time and is at sole discretion of ABHFL

5 Things To Consider Before Taking A LAP

STEP

Visit the Official Website and navigate to the "Loan Against Property" section.

STEP

Complete process with assigned RM from ABHFL

STEP

Get loan sanction

STEP

Sign loan agreement

STEP

Disbursement in your account

Loan Against Property Eligibility

Are you eligible for a loan against property? Check whether you meet the criteria.

Eligibility criteria

Property typeResidential or commercial
NationalityIndian citizen
Minimum age for applying21 years
Maximum age at loan maturity60 years for Salaried & 70 years for Self-employed
Good credit history Credit score to 650 or above, new to credit
EmploymentSalaried or self-employed

Note - This is an indicative list that may change based on your actual loan application.

Upto 30 Lakhs

Suggests who should get this policy. Remember, it’s only a suggestion.

30 Lakhs to 75 Lakhs

More than 75 Lakhs

90%

80%

75%

Disclaimer - All loans will be at the sole discretion of ABHFL.

Fees & Charges

TRANSACTIONS	CHARGES
Loan Processing/Administration Fee	Home Loans : Up-To 1% Of The Loan Amount Other Loans : Up-To 2% Of The Loan Amount
Part Payment/Pre-Closure Charges:	• Floating rate loans given to individuals, where all applicants and co-applicants are individuals: Nil. • Home Loans (other than floating rate Home Loans to individuals): 2% of principal outstanding.
Other Charges: Default Penal Interest Rate / Non Conformance With Any Covenants / Stipulated Conditions	24% P.A. I.E. 2% Per Month

Disclaimer: The above charges constitute the rack rate for all customers. Actual charges for any customer, if different, will be as communicated at the time of loan sanction and disbursal and will be subject to changes from time to time.

TRANSACTIONS	CHARGES
NACH Failure Charges	₹750/- per instance
Accrued Interest	As applicable based on actual delayed status or as communicated by the lender from time to time
CERSAI Charges	• When the facility amount is equal to ₹5 Lakh or lesser – ₹50 per property • When the facility amount is greater than ₹5 Lakh – ₹100 per property
Pre-closure Quotes	₹1,000/- per instance
Request for Any Copies of Any Collateral	₹750/- per instance
Duplicate Statement/Repayment Schedule	₹200/- per instance

Name of Fee/Charge levied	Transactions & Charges in Rupees
• Stamp Duty • Legal and other statutory charges • Insurance Premium • Creation charge with ROC • MOE/MOD/Registration	As per state laws, where applicable

TRANSACTIONS	CHARGES
Cheque Return Charges	₹750/- per instance
CIBIL Report Retrieval Fee	• ₹50/- per instance for Consumer and • ₹500/- for Commercial CIBIL
Loan Re-Schedulement (at the discretion of ABHFL) Charges	0.50%
NOC Issuance Charges	₹500/-
Cancellation Charges (if any)	4.00% of the loan amount disbursed
Swap Charges (Fixed or semi-fixed rate to floating and vice-versa)	2% of the loan outstanding
Fees and Other Charges	Applicable GST @ 18% will be levied

Documents Needed

Proof of Identity and Address

Passport/ Aadhaar Card/ Voter's ID/ Driving License/ Job Card issued by NREGA/ Registration certificate/ PAN card (PAN Card only as identity proof)

Proof of Income

Salary slip for the last 3 months showing all deductions and Form 16

Bank statement showing salary

Latest 6 months

Proof of Other Income:

Rental receipts or documents showing receipt of income

Property Documents:

Copy of Title documents and approved sanction plan

Proof of Identity and Address

Passport/ Aadhaar Card/ Voter's ID/ Driving License/ Job Card issued by NREGA/ Registration certificate/ PAN card (PAN Card only as identity proof)

Proof of Income

IT Returns or financial documents for the last 2 years and computation of income certified by a CA for the last 2 years

Bank statement where income is credited

Latest 6 months

Proof of Other Income:

Rental receipts or documents showing receipt of income

Property Documents:

Copy of Title documents and approved sanction plan

Home Extension Loan Calculators

VIEW ALL CALCULATORS

HOME LOAN AMOUNT

Tenure (1 to 30 Years)

Rate of Interest (7 to 25%)

I CAN PAY EMI OF

Tenure (1 to 30 Years)

Rate of Interest (7 to 25%)

Your estimated EMI amount

₹ 0

Total Interest

₹ 0

Total Payout

₹ 0

Apply Now

Salaried
Self Employed

CURRENT AGE

MONTHLY INCOME

YOUR CURRENT MONTHLY OBLIGATIONS

You are eligible for a loan of

₹ 0*

For a tenure of0 years

EMI @ 9% Interest Rate

₹ 0*

Apply Now

Customer Satisfaction Stories

Mr. Hiralkumar Ashokbhai Patel

Aditya Birla Finance Customer

The digital platform and whatsapp service of ABHFL gives me a quick access to my basic loan details such as statement of accounts, loan account details, interest certificate, and repayment schedule.

Mr. Arpit Jain

Aditya Birla Finance Customer

Gurgaon, India

Mr. Pramod Kumar Saini

Aditya Birla Finance Customer

Highly appreciate the speed of work at ABHFL, my overall experience in the home loan journey was good.

Mr. Dharmendra Kumar

Aditya Birla Finance Customer

Meerut, India

Mrs. Snehal Rajpure

Aditya Birla Finance Customer

Different financial needs, different loans,

Looking for a home loan? Apply online with the ABCD app and get a quick loan. Move into your dream home with a hassle-free loan process.

Seamless digital application
Check your EMIs to assess the affordability
Different loan options for different needs

Download our mobile app now

PLAY STORE

APP STORE

Scan the QR code to download our Mobile App

Download our mobile app now

PLAY STORE

APP STORE

Tax Planning

Save Tax, invest more, reach goals

Tax-saving options, one click
Save tax under different sections

Know More

Secured Business Loan

Secure business loans for you

Low interest, flexible payments
One app, quick dispersals

View Plans

FAQs on Loan Against Property

Loan Against Property (LAP) is a secured loan that allows you to borrow money by pledging your residential or commercial property as collateral. This means that the lender will have a legal claim to your property if you are unable to repay the loan.

ABHFL typically accepts the following types of properties as collateral for LAP:

• Residential properties (apartments, bungalows, houses)

• Commercial properties (shops, offices, warehouses)

• High loan-to-value ratio (LTV): You can borrow up to 75% of the market value of your property, which can provide you with a significant amount of funding.

• Flexible repayment options: You can choose a repayment tenure that suits your financial situation.

• Competitive interest rates: ABHFL offers competitive interest rates on LAP, making it an affordable option for borrowers.

• Quick processing times: ABHFL strives to process LAP applications quickly, so you can access the funds you need as soon as possible.

LAP can be used for various purposes, including:

• Home improvement and renovations: You can use LAP to finance home improvements, such as renovations, extensions, or upgrades.

• Debt consolidation: You can consolidate multiple debts into a single LAP, potentially reducing your overall interest payments and simplifying debt management.

• Medical expenses and emergencies: LAP can serve as a financial backup in case of unexpected medical expenses or emergencies.

• Education expenses: LAP can be used to fund education expenses for yourself, your children, or other family members.

• Business expansion: LAP can be used to finance business expansion plans, such as purchasing equipment, hiring new employees, or expanding operations.

You can avail of LAP for any personal or business purposes, provided the end use is not for any speculative or prohibitive reasons.

Loans can be availed with a tenure of up to a maximum of 20 years. Repayment will not ordinarily be extended beyond the age of retirement (if you are employed) or on your reaching 60 years of age, whichever is earlier. However, our endeavour will be to determine the repayment period to suit your convenience.