|IDFC Loan Amount||Rs 10 Lakh to 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 higher)
Compare Banks to get lowest Mortgage Loan Interest Rate.
Non-IDFC First LAP customers can opt for low-cost IDFC Balance Transfer with a top-up facility. You can also avail Loan Against Property without Income Proof and ITR
|Name of Lender||Rate of Interest (p.a.)||Processing Fee|
|IDFC First Bank||9.00% - 20.00%||Up to 3% + GST|
|HDFC Bank||9.50% - 11.00%||Up to 1% (minimum Rs. 7,500)|
|SBI||10% to 11.55%||1% (maximum Rs. 50,000) + service tax|
|Kotak Mahindra Bank||9.15%||1% + GST & statutory dues|
|PNB Housing||9.25% - 12.85%||2% + GST|
|HSBC Bank||9.75%||1% or Rs. 10,000, whichever is higher + applicable taxes|
|Federal Bank||10.15%||1% (minimum Rs. 3,000)|
|Bank of India||11.25%||Up to 1% (minimum Rs. 5,000 & maximum Rs. 50,000)|
|Bank of Baroda||10.85% - 16.50%||1% (minimum Rs. 8,500 & maximum Rs. 1,50,000)|
|IDBI Bank||9.50% - 11.45%||1%|
|Central Bank of India||12.15% - 14.25%||Up to 0.75% + GST (maximum Rs. 1 Lakh)|
|ICICI Bank||10.85% - 12.50%||0.50% - 2% or Rs. 3,000, whichever is higher + applicable taxes & other statutory levies|
|Bank of Maharashtra||10.95% - 11.95%||1% + GST|
You can also use SBI Loan Against Property Calculator to find out how much you will save on interest and how it affects your Loan EMI.
IDFC First Bank offers customised loans against different types of properties. The lowest IDFC First Bank 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 - Up to Rs. 50 Lakhs||Fixed||9% p.a.||20% p.a.|
|Rs. 50 Lakhs & above||Floating||9% p.a.||16.50% p.a.|
Compare Banks to get lowest SBI Loan Against Property Interest Rate.
To apply for IDFC First Loan Against Property, meet the following criteria:
You can also check Loan Against Property Eligibility from Top Banks Online.
|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|
|Type of Charge||Description|
|Processing fees||Up to 3 % of the loan amount|
|Part prepayment charges|
|IDFC LAP Foreclosure charges|
|Cancellation & rebooking|
|Switch fees||Rs. 5,000 + GST for principal outstanding above Rs. 3 Crores & Rs. 10,000 + GST for principal outstanding below or equal to Rs. 3 Crores|
|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. 1,000|
|Physical statement of account||Rs. 500|
|Cheque swap charges||Rs. 500|
|Initial money deposit/ application fees||Rs. 6,500|
|Document retrieval||Rs. 500|
|Stamping charges (including facilitation 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.|
You can also Check Loan Against Property without Income Proof and ITR
IDFC Bank offers customised mortgage schemes against all types of properties, such as:
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:
LAP Balance Transfer can be availed with Top Up, subject to meeting adequate collateral requirements.
You can use the Loan Against Property EMI Calculator available on our website for free to calculate your IDFC First Loan Against Property EMI instantly. Just enter the loan amount, rate of interest and tenure to know the result. EMI Calculator can be used to assess loan affordability and make an informed decision. Here is a sample EMI calculation for IDFC First LAP for various tenures at the lowest rate of interest of 9.00% - 20.00% p.a.
|Loan Amount||EMI for 5 years||EMI for 10 years||EMI for 15 years|
|Rs. 10 Lakhs||Rs. 20,758||Rs. 12,668||Rs. 10,143|
|Rs. 20 Lakhs||Rs. 41,517||Rs. 25,335||Rs. 20,285|
|Rs. 30 Lakhs||Rs. 62,275||Rs. 38,003||Rs. 30,428|
|Rs. 40 Lakhs||Rs. 83,033||Rs. 50,670||Rs. 40,571|
|Rs. 50 Lakhs||Rs. 1,03,792||Rs. 63,338||Rs. 50,713|
|Rs. 1 Crore||Rs. 2,07,584||Rs. 1,26,676||Rs. 1,01,427|
|Rs. 2 Crores||Rs. 4,15,167||Rs. 2,53,352||Rs. 2,02,853|
You can also use HDFC Bank Loan Against Property EMI Calculator to find out how much you will save on interest and how it affects your Loan EMI.
IDFC Loan against Property Contact Number is 1860 500 9900 between 9:30 am to 6.00 pm on all working days, except second and fourth Saturdays and bank holidays.
IDFC FIRST Bank Ltd
KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
IDFC FIRST Bank Ltd
Bandra East, Mumbai - 400051,
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Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.
IDFC First Loan Against Property is approved for following purposes:
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.
Yes, the property has to be insured against fire and other calamities and the bank's clause has to be incorporated in the insurance document. The insurance has to be renewed every year and it has to be covered for the entire loan tenure. The premium is borne by the owner of the property.
The following procedure is involved in sanctioning IDFC First Bank loan against property:
You can get a loan amount anywhere between Rs. 10 Lakhs to Rs. 10 Crores under IDFC First loan against property.
IDFC First Bank, HDFC Bank, ICICI Bank, Kotak Mahindra and SBI are the best banks for availing of loan against property as they offer affordable interest rates.
Yes. Being a secured loan, it is the best option to consider for fulfilling your high-ticket financial requirement.
IDFC First Bank offers flexible tenure of up to 25 years to repay the loan against property.