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Loan Against Property

A Loan Against Property (LAP) is a secured credit facility that helps you to access funds by pledging your owned property. Whether you are a salaried professional or a self-employed individual, this financing option can help you meet large-scale personal or business-related expenses without disrupting your savings.

At IDFC FIRST Bank, we offer a seamless and reliable mortgage loan solution that helps you unlock the hidden value of your property. You can avail funding up to 80% of your property’s market value, with flexible tenures of up to 25 years and competitive loan against property interest rate.

Be it for your child’s higher education, business expansion, medical emergencies, or a family wedding—our property loan offers tailored financing solutions to suit your needs. From residential and commercial properties to plots and institutional spaces, we offer coverage across a wide range of property types. Take the next step in securing your future.

Apply now

Benefits of Loan Against Property

Higher Loan Value

Higher Loan Value

Avail financing of up to 80% of your property's current market value. This high loan-to-value ratio enables you to access a large amount of funds without selling your property.

Flexible Repayment Tenure

Flexible Repayment Tenure

Get flexible repayment options with property loan tenures extending up to 300 months. This long-term repayment period makes your EMIs more affordable and manageable, allowing you to repay the loan at your convenience without financial strain.

Multi-Purpose Use

Multi-Purpose Use

The funds availed through your property loan can be used for diverse needs, including business expansion, higher education of children abroad, home renovation projects, or urgent medical expenses.

Top-Up and Balance Transfer

Top-Up and Balance Transfer

Already have a loan against property with another lender? You can easily transfer it to IDFC FIRST Bank and enjoy better interest rates, simplified terms, and even get additional top-up funding.

Funding for All Property Types

Funding for All Property Types

Whether it’s for residential, commercial, industrial, or institutional property—IDFC FIRST Bank’s loan against property can provide easy financing solutions tailored to your specific requirements.

Features of Loan Against Property

Get loans of up to ₹15 crore for tenures up to 300 months

Get loans of up to ₹15 crore for tenures up to 300 months

Fast-track approval using GST returns or business bank statement

Fast-track approval using GST returns or business bank statement

Avail fundings under Lease Rental Discounting Program with rental income

Avail fundings under Lease Rental Discounting Program with rental income

Dropline Overdraft facility with reducing balance overdraft

Dropline Overdraft facility with reducing balance overdraft

Purchase commercial property

Purchase commercial property

Enjoy simplified process and personalised support

Enjoy simplified process and personalised support

Dropline Overdraft

Are you facing unexpected expenses and need quick access to funds? Look no further!

A Dropline Overdraft Loan is a versatile financial product that allows you to access a pre-approved line of credit whenever you need it. This facility allows you to utilize amount up to an agreed limit. The withdrawal limit reduces every month till the end of the loan tenure. The interest is levied only on the utilized amount and not on the total amount borrowed. The amount can be deposited to the account anytime to reduce the outstanding balance.    


Avail your Loan Against Property as a Dropline Overdraft Facility and enjoy amazing benefits like interest only on the amount utilized, instant access to funds, extended loan tenure of up to 300 months, and much more.                      


Key Features:

1.       24/7 instant access to funds

2.       Continuous access to a predetermined line of credit

3.       Flexibility to repay the borrowed amount

4.       Interest payment only on the amount utilized

5.       Financial security against unexpected financial emergencies

Loan Against Property Eligibility and Documentation

Check your Loan Against Property Eligibility

Before applying, you must meet the following basic loan against property eligibility criteria:

  • eligibility Eligible applicants:
  • • Salaried professionals
  • • Self-employed individuals
  • • Partnership firms
  • • Private companies
  • • Trusts, and societies
  • Salaried professionals Salaried professionals
  • • Age: 21 years to 60 years or retirement, whichever is earlier
  • • Work Experience: Minimum 3 years
  • • Minimum Income:

    (i) ₹2.4 lakh per annum for loans under ₹50 lakh
    (ii) ₹10 lakh per annum for loans above ₹50 lakh
  • Self-employed individuals Self-employed individuals
  • • Age: 23 years to 70 years
  • • Business Vintage: At least 2 years of continuous operation
  • • Minimum Turnover:

    (i) ₹0.75 lakh per annum for loans less than ₹50 lakh
    (ii) ₹6 lakh per annum for loans above ₹50 lakh
Documents Required to Apply for Loan Against Property

To apply for a mortgage loan or loan against property, you must submit the following documents based on your employment type:

  • For Salaried Individuals
  • documentation • Photo ID and address proof (as per KYC norms)
  • documentation • Latest 2 years' ITR or Form 16
  • documentation • 3 months’ salary slips
  • documentation • Last 6 months’ bank statement reflecting salary credits
  • documentation • Property ownership documents (complete chain and approved plan)
  • documentation • Existing loan documents (if applicable)
  • For Self-Employed Individuals
  • documentation • KYC documents and business proof (GST registration, MOA/AOA, Shop Act, etc.)
  • documentation • Latest year’s ITR and audited financials
  • documentation • 6 to 12 months’ bank statements based on the loan amount
  • documentation • GST returns (if applicable)
  • documentation • Property papers with title chain
  • documentation • Existing loan documents (if any)
Eligibility

Interest Rates & Charges for Loan Against Property

Get attractive loan against property interest rate and transparent charges on your loan against property with IDFC FIRST Bank.

 

Type

Details

Interest Rate (ROI)

Starting from 9.50% p.a.*

Processing Fees

Up to 3% of loan amount

Disbursement Time

Minimum 15 working days

Stamp Duty

As applicable as per state laws

Late Payment/Penal Charges/Default Interest/Overdue (Per Month)

2% of the unpaid EMI or ₹300 whichever is higher

EMI bounce charges

7.5% of EMI bounced with minimum charge of Rs. 400 & maximum of Rs. 1000 (excluding GST)


*Interest rates are indicative and subject to change based on borrower profile, credit score, property type, and RBI repo rate movements.

Find out about our minimal and transparent fees & charges

Find out about our minimal and transparent fees & charges

Know More

How to Apply for a Loan Against Property

Step 1. Click on ‘Apply Now’:

Ready to apply? Click on the ‘Apply Now’ button.

Step 2. Check eligibility

Use the loan calculator to estimate the loan amount and EMI.

Step 3. Fill application form

Submit your personal, financial, and property details online.

Step 4. Upload documents:

Provide the required documentation digitally.

Step 5. Verification & approval

Our team will verify your documents and process your request.

Step 6. Get disbursal

Upon approval, the loan amount will be disbursed to your account.

You can also visit the nearest IDFC FIRST Bank branch during banking hours with all the necessary documents and apply for a loan against property offline. 

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FREQUENTLY ASKED QUESTIONS

What is a Loan Against Property?

Loan Against Property is a mortgage loan offered to individuals, firms & companies against their existing property. You can unlock the untapped potential of your real estate holdings with Loan Against Property. You can borrow money using your property as collateral, while paying it back over time via EMIs. This way, you can continue to own your property and raise funds against it.

What are the eligibility criteria for getting a mortgage loan?

You can apply for a mortgage loan from IDFC FIRST Bank if you are a salaried professional, self-employed person, partnership firm, private company, trust or society. Salaried individuals need steady income and at least 3 years of work experience, while self-employed applicants should have at least 2 years of stable business operations with the required turnover. Check the eligibility section on this page for more details.

What should be my CIBIL Score if I want to apply for a loan against property?

You will need a CIBIL score of 750 or above to get your loans approved by lenders or banks. A CIBIL score of 750 and above is considered excellent in the eyes of banks and indicates strong creditworthiness, making it easier to get your loan against property application approved.

What kind of properties are eligible as collateral for property loan?

The below properties are eligible as collateral for IDFC FIRST Bank Property Loan

• Residential

• Commercial

• Industrial

• Plots

What can a Loan Against Property be used for?

You can use a Loan Against Property to raise funds for working capital, business expansion, debt consolidation, purchase of machinery, funding other business requirements, etc.

How much loan will I get against my property

You can get a mortgage loan from ₹10 lakhs to ₹15 crores, depending on your property’s market value, creditworthiness, and profile history. If you meet all the criteria, the highest loan we offer is up to 80% of your total property’s value.

What is the range of loan amounts, minimum and maximum, that I can apply for?

The minimum property loan amount you can avail of is ₹10 Lakhs and it can go up to a maximum of ₹15 Crores. 

What are the interest rates applicable for taking a mortgage loan?

The interest rate for a mortgage loan from IDFC FIRST Bank starts at 9.5% p.a Click here to check the latest loan against property rate of interest and other fees and charges.

What are the benefits of availing a property loan from IDFC FIRST Bank?

IDFC FIRST Bank offers one of the best Loan Against Property solutions. Some of the top 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 process

What are the different types of loans offered under Loan Against Property?

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

How does a term loan facility work?

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 tenure with either a fixed or floating interest rate.

What is a Dropline Overdraft facility and how does it work?

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.

How is Dropline Overdraft different from an overdraft facility?

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 mortgage loan tenure.

How is the interest charged on the borrowed amount for a Dropline Overdraft facility?

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.

How does the limit drop for a Dropline Overdraft facility?

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.

How can I avail overdraft facility for my business basis the LAP taken?

1. Click on Apply Now

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

What documents are required for getting a LAP?

To apply for a Loan Against Property, the documentation requirements vary depending on whether you are salaried or self-employed.

For Salaried Individuals:

• Photo ID and address proof (as per KYC norms)

• Latest 2 years’ ITR or Form 16

• Last 3 months’ salary slips

• Last 6 months’ bank statements reflecting salary credits

• Property ownership documents (complete title chain and approved plan)

• Existing loan documents (if applicable)

For Self-Employed Individuals:

• KYC documents and business proof (GST registration, MOA/AOA, Shop Act, etc.)

• Latest year’s ITR and audited financial statements

• 6 to 12 months’ bank statements (depending on loan amount)

• GST returns (if applicable)

• Property ownership documents with title chain

•Existing loan documents (if any)

How do I apply for IDFC FIRST Bank Loan Against Property?

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

How long will it take to get approval for a loan against property?

It usually takes 15 working days, or 2 weeks, to get your loan approved and disbursed. Once you submit the documents, the bank verifies them and proceeds with further steps if there are no discrepancies.

Does IDFC FIRST Bank offer insurance for my Loan Against Property in case of an unforeseen event?

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

How will my EMI be calculated?

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 using IDFC First’s Mortgage Loan Calculator.

What are the Fees and Charges levied on my 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

Can I part-prepay my loan?

Yes, part-prepayment option is available for LAP loan. 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

How can I foreclose my LAP earlier?

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

What are the foreclosure charges for repaying my 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

Where can I get my loan related information?

Property 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

How can I download my Account Statement?

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'

How can I download loan repayment schedule?

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 Loans

2. Select the loan card for which you would like to download the repayment schedule

3. Under 'Documents' tab, click on Repayment schedule

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

More FAQs