Loan Against Property

The minimum loan amount one can avail of is ₹10 Lakhs and up to a maximum of ₹15 Crores.

Being one of the leading banks in the Loan Against Property segment, we are currently offering our customers a loan tenure from a minimum of 12 months up to a maximum of 300 months.

We have one of the best Loan Against Property solutions. Some of our major features are:

• Loan amount of up to ₹15 Crores for an extended tenure of 25 years

• Unique balance transfer and additional top-up facilities

• Higher mortgage loan facility basis audited financials

• Quick loan based on bank statements or basis GST returns

• Loan available for salaried individuals too

• Loan available based on your Rental income

• Loan also available for purchase of a commercial property

• Funding solutions for educational institutes, hospitals, and restaurants

• Superior customer experience with easy documentation and a hassle-free digitized processes

Loan Against Property can be availed in the form of a term loan or a dropline overdraft facility.

Term loan is a type of credit facility that provides borrowers with a lump sum of cash upfront in exchange for specific borrowing terms.

Borrowers agree to pay their lenders a fixed amount over a certain repayment schedule with either a fixed or floating interest rate.

Dropline Overdraft is another type of credit facility that allows you to withdraw funds from pre-approved credit limit as and when required.

With the dropline feature, the Overdraft limit gradually decreases over time until it reaches zero. You will be charged interest only on the overdraft amount utilized.

The eligibility assessment criteria for availing a Loan Against Property from IDFC FIRST Bank include factors such as:

• Income - Eligibility calculation basis the derived income & net profit of the business

• Banking -  Eligibility calculation basis the average bank balance

• GST returns - Eligibility calculation basis the annual business turnover

• Rental Income - Eligibility calculation basis the net rental

You can apply for IDFC FIRST Bank Loan Against Property via –

Our Website - https://www.idfcfirstbank.com/business-banking/loans/loan-against-property

Our Mobile App - https://my.idfcfirstbank.com/digital-banking-app

Our Branches - https://nearme.idfcfirstbank.com/

Our Loan Centres - https://www.idfcfirstbank.com/support/asset-branch

Or you can call us on 1800 10 888 and speak to our representative

Here's a step by step break down of our application process for Loan Against Property:

• Submission of the Application Form along with the required documents,

• Document verification (mandatory verifications instituted to ensure validation of documents provided)

• Personal Discussion (for assessment & to understand the customer profile from a risk perspective)

• Legal & Technical valuation

• Credit Decision

• Loan Disbursement

At IDFC FIRST Bank, we aim to safeguard our customer's interest by offering the below insurance covers:

• Property Insurance - Covers the tangible assets of a person's personal or commercial property from unforeseen events.

• Life Group Credit Protect - In event of death, disability or illness of the insured member, it will protect their families from the burden of repaying the outstanding loan to the financial institution.

• Health Protect plans - Covers medical expenses that arise due to an illness.

• Accident protect plan -  Covers medical expenses pertaining to injuries like a broken limb, loss of a limb, burns, lacerations, or paralysis.

• EMI Protect Plan - Protection plan that offers insurance coverage on EMI in case you are unable to pay an EMI

The principal amount and the interest rate applied to the principal make up your EMI. The amount you borrow, the rate of interest charged, and the loan tenure are the variables that affect the EMI. If the interest rate increases, EMIs may alter.

By making a partial prepayment, that is, paying back more than you are obligated to, you can lower your EMI amount.

You can calculate your potential EMI here

Click on the link to know more about the charges.

Unlike a standard overdraft where limit remains constant, a dropline overdraft is a revolving credit line wherein limit decreases every month and reduces to zero at the end of the loan tenure. 

The interest is levied only on the utilized amount and not on the total amount borrowed. Interest is calculated daily and levied at the end of each month.

The withdrawal limit reduces every month till the end of the loan tenure. The limit can be renewed every year based on the repayment behaviour.

To foreclose a LAP earlier, kindly call on 180010888 or walk-in to your nearest IDFC First Bank Asset branch. To locate the nearest asset branch, click Find Nearest Asset Branch

Yes, part-prepayment option is available for LAP. Based on the program selected, there will be charges levied for part-prepayment. You may refer to the sanction letter for applicable charges. You can also click Loan Against Property Fees and Charges to view the complete schedule of charges for your loan

Kindly call our customer care number 180010888 or walk-in to your nearest IDFC First Bank Asset branch. To locate the nearest asset branch, click Find Nearest Asset Branch

Kindly call our customer care number 180010888 or walk-in to your nearest IDFC First Bank Asset branch. To locate the nearest asset branch, click Find Nearest Asset Branch

You may refer to your sanction letter for the applicable fees and charges. You can also click Loan Against Property Fees and Charges to view the complete schedule of charges for your loan

You may refer to your sanction letter for the applicable fees and charges. You can also click Loan Against Property Fees and Charges to view the complete schedule of charges for your loan

Click for Interest Rates

Click for Eligibility Criteria

1. Click here to Apply
2. Give a call on the customer care number - 1800108883.
3. Walk-in to your closest IDFC First Bank Branch. To locate the nearest asset branch, click Find Nearest Asset Branch

Loan related information such as EMI, loan tenure, EMI date etc. is available on mobile banking app

1. Login to IDFC FIRST Bank mobile app and click on Loan
2. Select the loan account number
3. All loan related details will be available in 'Details' tab

Alternatively, you can also use WhatsApp banking

Repayment account details can be checked through mobile banking App

1. Login to IDFC FIRST Bank mobile app and click on Loan
2. Select the loan account number
3. In Details tab, you will be able to check the ECS bank name and ECS bank account number

Kindly call our customer care number 180010888 or Walk-in to your closest IDFC FIRST Bank Branch. To locate the nearest asset branch , click Find Nearest Asset Branch

Please visit your nearest IDFC FIRST Bank Branch. To locate the nearest asset branch, click Find Nearest Asset Branch

Click here to view list of documents required for applying a LAP

An NOC will be sent on your registered email ID within 24 hours after loan closure. The same can also be downloaded through WhatsApp banking - click and type 9904 from your registered mobile number. You can also login to the IDFC FIRST Bank mobile app, click on Loans and download the NOC through the Documents tab.

You may download the account statement through the mobile banking app by following the below steps:

1. Login to IDFC FIRST Bank mobile app and click on Loan
2. Select the loan number for which you would like to download the statement
3. Click on 'Statement of accounts'

You may download the repayment schedule through mobile banking app by following the below steps:

1. Login to IDFC FIRST Bank mobile app and click on Loan
2. Select the loan number for which you would like to download the repayment schedule
3. In 'Documents' tab, click on Repayment schedule

The same can also be downloaded through WhatsApp - click and type 9902 from your registered mobile number

We request you to send the filled and digitally signed CHG4 form from your registered email ID at Banker@idfcfirstbank.com. You will receive the digitally signed acknowledgement on the CHG4 form from IDFC FIRST bank within 48-72 Hrs.