IDFC Loan Against Property
IDFC First Bank offers a loan against property (LAP) of up to 80% of your property’s value. IDFC mortgage loan interest rate 2025 is low and starts from just at just 9% per annum. You can avail of customised mortgage loans against residential, commercial, or industrial properties/plots and repay in affordable EMIs within a flexible tenure of up to 25 years.
Apply for IDFC First Bank Loan Against Property @ 9.00% Interest Rates
IDFC First Loan Against Property Details 2025
| Loan Amount | Rs.10 Lakhs - Rs.10 Crore |
| Interest Rate | 9.00% - 20.00% p.a |
| Tenure | Up to 25 years |
| Processing Fee | Up to 3% of the loan amount |
| Late Payment Penalty | 2% p.m. of the unpaid EMI or Rs 300 (whichever is higher) |
Compare IDFC LAP Interest Rates with Leading Banks
Below is the comparison of IDFC mortgage loan interest rates with loans against property interest rates of other banks and NBFCs in India.
You can compare the different interest rates offered by top lenders and the most suitable option:
| Name of the Lender | Interest Rate (% p.a.) |
|---|---|
| IDFC First Bank | 9.00% - 20.00% |
| Muthoot Finance | 14.50% - 16.50% |
| State Bank of India | 10.10% - 11.65% |
| LIC Housing Finance | 9.70% - 11.55% |
| Federal Bank | 11.15% - 14.80% |
| Home First | 12.80% - 18.50% |
| HDFC Bank | 9.50% - 11.00% |
| Kotak Mahindra Bank | 9.50% - 10.50% |
| PNB Housing Finance | 9.24% - 12.45% |
| Bank of Baroda | 10.85% - 16.50% |
| ICICI Bank | 10.85% - 12.50% |
| Tata Capital | 10.10% |
| Bajaj Housing Finance | 9% - 14% |
IDFC First Loan Against Property Interest Rates
IDFC First Bank offers customised loans against different types of properties. The lowest IDFC Mortgage Loan Interest Rate is 9.00% - 20.00% p.a. The effective rate of interest for your LAP application depends on your repayment capacity, credit score and property value & location.
| Loan Amount | Interest Rate Type | Minimum Interest Rate | Maximum Interest Rate |
|---|---|---|---|
| Rs. 10 Lakhs - Rs. 50 Lakhs | Fixed | 9% p.a. | 20% p.a. |
| Rs. 10 Lakhs & above | Floating | Repo Rate + 2.50% = 9% p.a. | Repo Rate + 10% = 16.50% p.a. |
- Repo Rate is 6.50% w.e.f. February 9, 2023.
- The above-mentioned interest rates may vary based on various parameters such as the Repo Rate, Bureau Score, Segments, etc.
- Repo Rate (RR) may change as per timely RBI Policy announcements.
Features & Benefits of IDFC First Loan Against Property
- Avail a customised IDFC First Bank mortgage loan up to 80% of the property value.
- Salaried as well as professional Indian residents and non-resident Indians (NRIs) can apply.
- High-value loans are available against residential, commercial, or industrial units.
- IDFC loan against property amount ranges between Rs. 10 Lakhs to Rs. 10 Crores.
- The maximum tenure for IDFC First LAP can go up to 25 years.
- IDFC First loan against property interest rates start at 9.00% - 20.00% p.a.
- Currently lowest IDFC First loan against property EMI is Rs. 839 per lakh.
- The maximum processing fee can go up 3% of the sanctioned loan amount.
Non-IDFC First LAP customers can opt for a low-cost IDFC Balance Transfer with a top-up facility.
IDFC First Loan Against Property Eligibility Criteria
To apply for the IDFC First Loan Against Property, meet the following criteria:
- You must have a stable income source. All profiles, including salaried individuals, self-employed professionals & non-professionals can apply.
- A minimum CIBIL score of 740 is required to apply for a loan against property.
- Salaried borrowers should be aged between 23 to 60 years.
- Self-employed borrowers should be aged between 23 to 70 years.
- Borrowers belonging to the agri-allied sector should be aged between 23 to 70 years with a minimum of 2/3 years of work continuity.
- The minimum business continuity required for the self-employed is 2/3 years.
- Salaried borrowers should have a minimum work experience of 2/3 years.
- Equitable loan value collateral is required which can be in the form of residential, commercial, industry plot or godown.
Documents Required for IDFC First Loan Against Property
| Type of Document | Salaried | Self-employed |
|---|---|---|
| Address Proof (any one) | Aadhar Card, Driving License, PAN Card, Voter's ID Card, Passport, NREGA Card, Bank Account Statement, Electricity Bill, Telephone Bill | |
| Photo ID Proof (any one) | Aadhar Card, Driving License, PAN Card, Voter's ID Card, Passport, NREGA Card | |
| Income Proof |
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| Property Documents |
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| Others | Details of ongoing loans, including sanction letter, amortization schedule or account statement, as applicable | |
Fees & Charges of IDFC First Loan Against Property
Apart from the IDFC loan against property interest rate, the borrower has to pay the following charges (as applicable) on the IDFC First loan against property:
| Type of Charge | Description |
|---|---|
| Processing fees | Up to 3 % of the loan amount |
| Part prepayment charges |
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| Foreclosure charges |
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| Cancellation & rebooking |
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| Switch fees |
|
| Repayment instrument swap | Rs. 500/ repayment change request |
| List of documents | Rs. 1,000 per request for copies/ list of documents |
| Duplicate NOC/NOD | Rs. 500 |
| Loan rescheduling charges | Rs. 1,000 |
| Physical repayment schedule | Rs. 500 |
| Physical statement of account | Rs. 500 |
| Cheque swap charges | Rs. 500 |
| Initial money deposit/ application fees | Rs. 6,500 |
| Document retrieval | Rs. 500 |
| Other Statutory/ Mortgage creation charges | As per actuals |
| Late Payment/ penal charges/ default | 2% p.m. or Rs. 300 (whichever is higher) |
| Repricing fee | 1/2 of rate drop given to the customer as a % or Rs. 10,000, whichever is higher |
| EMI pickup/ collection | Rs. 350 |
| EMI bounce charges | Rs. 400 |
| Other statutory/ Mortgage creation charges | On actuals |
| GST | GST, as applicable, will be levied on all service charges. |
IDFC First Loan Against Property Offers & Schemes
IDFC Bank offers customised mortgage schemes against all types of properties, such as:
- Residential
- Commercial
- Industrial
- Godowns
Customers can apply for IDFC First Bank’s Loan Against Property online or offline according to their preference. Online, you need to provide minimal documentation, such as:
- Income documents
- Average bank balance
- GST returns
- Rental income
LAP Balance Transfer can be availed with Top Up, subject to meeting adequate collateral requirements.
IDFC Loan Against Property EMI Calculator
You can use the IDFC loan against property calculator to know your Equated Monthly Instalment (EMI) before applying for the loan. To use the calculator, follow the steps given below:
- Open the Loan Against Property EMI Calculator page available on the financial tool page on the official website of the bank.
- Select the required loan amount, tenure (in months), and the applicable IDFC First bank loan against property interest rate by dragging the cursor on the required value.
- As soon as you mention the above information, the tool will display the monthly EMI amount you have to pay on your loan.
Below is an example using the IDFC First EMI calculator:
- The loan amount to be availed of is Rs. 2 Crores
- The loan tenure opted for is 300 months
- Applicable interest rate 9.00% - 20.00% p.a.
- EMI to be paid Rs. 1,67,839
You can also calculate your IDFC First loan against property EMI using the formula given below:
EMI amount = [P x R x (1+R) ^N]/[(1+R) ^N-1], which uses three inputs, i.e., Principal loan amount (P), tenure (N), and rate of interest (R).
FAQs
IDFC First Loan Against Property is approved for the following purposes:
- For the purchase of a residential or commercial property
- For the consolidation of debts
- For any personal requirements
- For setting up a business or for expansion of the existing business, or for working capital requirements of the business.
Yes. As a property can have multiple owners, so can the loan against property. Thus you can apply for IDFC Mortgage as joint owners. You can add non-owner co-borrowers for the loan as well.
The bank levies a processing fee of up to 3% of the sanctioned loan amount.
The bank offers the loan against property at both fixed and floating rates. If the loan is opted to be availed at a floating rate, the prevailing rate will be charged. Also, there will be fluctuation in the interest rate as and when the rate of interest changes. Whereas in a fixed rate of interest, the rate will remain fixed till the pre-decided pre-set period, which is 3 years from the date of disbursement of the loan in the case of IDFC loan against property.
The following procedure is involved in sanctioning an IDFC First Bank loan against property:
- Filing a loan application
- Verification and underwriting
- Sanctioning of the loan
- Execution of documents
- Disbursement of the loan
You can get a loan amount anywhere between Rs. 10 Lakhs to Rs. 10 Crores under IDFC First loan against property.
IDFC First Bank offers a flexible tenure of up to 25 years to repay the loan against property.
IDFC Loan Against Property Interest Rate has the best rate of interest starting from 9.00% - 20.00%.
The interest rate on IDFC First loan against property ranges from 9% to 16.50% p.a. for floating interest loans and 9% to 20% p.a. For fixed interest rates.
Yes, you can apply for IDFC First LAP jointly with co-applicants. The co-applicants can be your spouse, parents, children or siblings. The co-applicant must be an adult member of the family. Your salaries can be clubbed for the calculation of the loan amount.
IDFC offers loans against all kinds of properties such as residential, commercial, industrial plots and godowns.