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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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Loan Against Property Interest Rates Starting At Just 9.5% p.a.*
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Loan Against Property EMI Calculator
Loan amount
₹10L
₹15cr
Loan term in months
11 Months
300 Months
Choose the Interest Rate
Lowest interest rate unlocked!
%
9.5%
20 %
Your EMI will be
₹5,072/month*
Total Interest Payable
₹43,435
Total Amount Payable
₹2,43,435
Check your eligibility
*Loan Against Property EMI Calculator is only for illustration purposes. For actual calculations refer to your Repayment Schedule & Loan Agreement.*T&C Apply
What is a loan against property interest rate?
A Loan Against Property (LAP) interest rate is the percentage rate charged by a lender on the amount you borrow by pledging your property as collateral. It directly affects your loan cost and monthly outgo, impacting the total liability for your business or personal needs. Understanding the prevailing mortgage loan interest rates can help you make informed decisions and choose the most appropriate borrowing option available in market.
IDFC FIRST Bank offers competitive, affordable property loan interest rates starting at just 9.5% per annum, offering up to 80% value of your property, with customer-friendly terms and extended tenures of up to 25 years. This can ensure that you access funds with enhanced flexibility and transparency.
Enjoy Low Mortgage Loan Interest Rates
IDFC FIRST Bank brings you the advantage of low mortgage loan interest rates, making your high-value funding easier and more affordable. Check the latest rate:
Product type | ROI% |
Loan Against Property | ROI Starting from 9.50%* |
* T&C Apply
Above mentioned interest rates will vary basis various parameters such as the Bureau Score, Segments, etc.
REPO RATE (RR) will undergo changes as per timely RBI Policy announcements.
The loan against property interest rate is calculated on a monthly reducing balance basis, ensuring interest is only charged on the outstanding principal each month, reducing your cost over time. IDFC FIRST Bank consistently revises its loan against property interest rates on prevailing market conditions and ensure you always get the best loan offer.
*Loan processing and disbursement will take at least 15 working days post submission of all requisite documents and information as may be required, as per the bank's criteria.
Factors Affecting Loan Against Property Interest Rates
CIBIL/credit score
A strong credit score demonstrates creditworthiness and can secure you a lower LAP interest rate; weaker credit scores may increase interest rates or risk rejection.
Property type & valuation
The location, type, age, condition, and market valuation of the property heavily influence the property loan interest rate.
Loan amount & tenure
Higher loan amounts or longer repayment periods may alter the property against loan interest, depending on lender risk assessment.
Employment profile & income stability
Salaried professionals with stable income generally receive better rates than those with fluctuating earnings.
Repayment capacity
Demonstrated capacity to repay—through higher income, lower existing obligations—can fetch a better LAP ROI.
Applicant's age
Younger borrowers might access lower interest rates, as they represent lower repayment risk over a long tenure.
Interest rate type
Fixed interest will remain unchanged throughout the loan’s tenure; floating rates fluctuate with market-linked benchmarks like the repo rate.
Loan Against Property Fees & Charges
While the loan against property interest rate is an important factor to consider, the fees and charges also adds to the overall loan cost. IDFC FIRST Bank ensures that you get the most affordable and transparent charges. Here are the charges levied on a mortgage loan.
Type of charge | Fees/Charges |
Processing Fees (Incl. Admin Charges) | Up to 3% of loan amount |
Repayment instrument swap charges | Nil |
List of document charges | ₹1,000 per request |
Duplicate No Objection/No Due Certificate | ₹500 |
Statutory/Mortgage charges (Stamp duty) | On actuals |
Cancellation & rebooking | ₹10,000 (uncashed disbursal cheque), ₹10,000 + Interest (if encashed) |
Loan rescheduling charges | ₹1,000 per rescheduling |
Physical repayment schedule | ₹500 |
Physical statement of account | ₹500 |
Cheque swap charges | Nil |
Initial money deposit/application fee | ₹6,500 |
Document retrieval charges | ₹500 per retrieval |
Stamping charges | As per actuals |
Late payment/penal charges/default | 2% of unpaid EMI or ₹300, whichever is higher, per month |
EMI pickup/collection charges | ₹500 |
EMI bounce charges | 7.5% of EMI (Min ₹400; Max ₹1,000) |
Overdue handling charges | At actuals plus taxes |
GST is applicable on all service charges.
Click here for more details on mortgage loan fees and charges
Frequently Asked Questions
What is the current loan against property interest rate at IDFC FIRST Bank?
IDFC FIRST Bank’s loan against property interest rate starts at 9.5% per annum, with higher loan amounts of up to ₹15 crore depending on the property value at extended tenures. Thus, offering affordable solutions tailored to your needs.
How is the mortgage loan interest rate calculated?
Interest rate is calculated on a monthly reducing balance, meaning you pay interest only on the outstanding principal every month.
Which factors can reduce the loan against property’s rate of interest at IDFC FIRST Bank?
A high credit score, stable income, valuable property, and a good relationship with the bank can help you secure a lower loan against property interest rate.
What is the processing fee for property loan interest at IDFC FIRST Bank?
The processing fee is up to 3% of the sanctioned loan amount, inclusive of administrative charges.
What is the maximum tenure for an IDFC FIRST Bank loan against property?
You can avail a tenure of up to 25 years, depending on your profile and property.
Does the type of property affect the mortgage loan interest rate?
Yes, prime residential or commercial properties in good condition can attract favourable property loan interest rates compared to less desirable assets.
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