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Loan Against Property Interest Rate (LAP) - IDFC FIRST Bank

A loan against property (LAP) is a secured loan that is sanctioned keeping an asset as mortgage with the lender. This asset can either be an owned land, a house, or any other commercial premises. The asset remains as collateral with the lender until the entire loan against property amount is repaid. The repayment tenure offered generally goes up to 25 years.Read More

Lenders often approve a mortgage loan around 50% to 70% of the property's market price, which you can repay over your repayment term in the form of EMIs. You can use the LAP to address your personal or professional needs.Read Less

IDFC FIRST Bank LAP Interest Table

Product type	ROI%
Loan Against Property	ROI Starting from 9.25%*

* 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.

Loan processing and disbursement will take at least 15 working days post submission of all requisite documents and information as may be required, by IDFC FIRST BANK as per Bank's criteria.

FREQUENTLY ASKED QUESTIONS

1. Is it important for the property to be insured against which you are borrowing a loan?

It is not mandatory to buy a property insurance policy from a bank in order to get a loan. However, Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. You can check with your Lender for detailed benefits & decide if you wish to avail the insurance or not.

2. What is the meaning of a mortgage loan?

Mortgage loan is a type of secured loan where you can avail funds by providing your asset as collateral to the lender. ... A mortgage is usually a loan sanctioned against an immovable asset like a house or a commercial property. The lender keeps the asset as collateral until the borrower repays the total loan amount.

3. What is the CIBIL score required to qualify for a loan against property?

A minimum CIBIL score of 740 is needed if you wish to apply for a loan against property. The higher your CIBIL score, the greater your chances of getting a loan.

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