LIC Loan Against Property Details

LIC Loan AmountUp to 2 crore
Interest rate8.50 % p.a onwards
TenureUp to 15 years
Processing FeeUp to 1% of the loan amount
Foreclosure/ Prepayment ChargeNIL

LIC Loan Against Property: Features & Benefits

  • LIC offers high value loans against residential, commercial & industrial units.
  • You can avail customised Mortgage Loan up to 80% of property value.
  •  All profiles including individuals & non individuals, resident & non-resident Indians can apply.
  •  LIC Loan Against Property amount can range from Rs 2 Lakhs to Rs 5 Crore.
  •  Maximum tenure for LIC LAP can go up to 15 years.
  •  LIC Loan Against Property interest rates start from 8.50% p.a onwards.
  •  Currently the lowest LIC Loan Against Property EMI is Rs 985 per lakh.
  •  Maximum processing fee for LIC LAP may go up 1% of the loan amount.
  •  Non LIC LAP customers can avail low cost Balance Transfer with Top Up.

Additional Reading: Cibil score check free online by pan number

LIC Loan Against Property Interest Rates

LIC Housing Finance Limited offers affordable & customised Loan Against Property at attractive interest rates and extended repayment tenure. The interest rates for LIC Loan Against Property starts from 8.50 % p.a. onwards. The effective LAP interest rate depends on factors such as market value of the property, property location, credit profile of the customer and the loan amount.

LIC Loan Against Property Eligibility Criteria

Eligible Profiles:


  •  Self-employed resident individuals
  •  Listed/ unlisted companies

Property Conditions:

  •  Property should not be more than 35 years old.
  •  It should be free from any kind of encumbrance.
  •  The applicant should have a clear title.


The individual should be between 21 to 65 years during the loan tenure. The age limit does not apply to reverse mortgage loan.


  •  KYC and property documents are mandatory.
  •  Original copies are required for verification.
  •  Only after verification & clear report from the legal team, the loan will be sanctioned.

Additional Reading: How to calculate credit score?

Documents Required for LIC Loan Against Property

Here is a checklist for applying LIC Loan Against Property.

1. Identity proof: 

Individual applicants need to submit any one of the following documents-

  • Passport
  • Driving license
  • PAN card
  • Aadhar card
  • Voter ID card

Non-individual applicants may submit any one of the following ID proofs:

  • SSI registration certificate or factory registration certificate
  • Educational certificates (for professionals)
  • GST registration certificate
  • Export-import certificate/ Trade license certificate
  •  Partnership deed (in case of multiple partners).

2. Income proof:

For salaried:

  • Last two-month salary slips
  • Form 16 for the latest financial year
  • Income tax returns for the latest financial year
  • Last five months bank statements reflecting salary and rental income credit as applicable.
  • For retired applicants, pension certificate is required.

For professionals:

  • Income tax returns & audited financials for the last 3 years
  • GST returns
  • Profit and loss account & balance sheet for 3 years
  • Bank statement of the firm for the last six months

3. Age proof:

  • School Leaving Certificate
  • LIC policy
  • Birth certificate, passport, or PAN card
  • Domicile certificate
  • For government or PSU, employee ID is required

4. Address proof:

  • Driving license, Passport, or Voter ID card
  • Utility bills for the last 3 months
  • Rent agreement
  • Bank passbook
  • Property sale deed (for non-salaried professionals or business persons.

LIC Loan Against Property Fees & Charges

Fee/ Charge TypeAmount
Processing FeeUp to 1% of the loan amount
Stamp Duty/ FrankingAs per Actuals
Statutory/ Regulatory ChargesAs per Actuals

LIC Loan Against Property: Offers & Schemes

LIC Loan Against Property for Individuals

  • LIC LAP product for salaried individuals.
  • Minimum loan amount is Rs. 2 lakh.
  • The maximum repayment tenure is 15 years.
  • The processing fee is nominal at 1% of the loan amount.
  • The property for mortgage should not be more than 35 years old.
  • The interest rates are based on floating basis.
  • No part prepayment or foreclosure fee is levied.
  • Your repayment capacity, present income, past credit history, existing liabilities & Credit score besides property value & loan amount will be assessed to determine the loan eligibility.
  • Documentation involve proof for KYC, age, income & property details.

Loan Against Property for Companies

  • LAP product for listed and unlisted companies.
  • Loan can be applied against commercial property/ office premises and/or for purchase of commercial property.
  • The loan can also be used for repaying existing loans (including takeover), purchasing fixed assets etc.
  • The maximum tenure offered is 10 years.

LAP for Professionals

  • LAP for professionals is offered to professionals who are in need of money for purchase/ renovation/ extension/ modification of commercial premises for professional or business reasons.
  • Only resident Indian professionals/ company/ partnership firm of such professional can apply.
  • Maximum repayment tenure is 10 years.
  • There are no prepayment penalties.
  • LAP can be availed against equitable mortgage, personal guarantee of Directors or Partners, as applicable & Demand Promissory Note.
  • The hypothecation of equipment (if financed) will be needed as an additional security.

4. Loan Against Rental Securitization

  • Only listed and unlisted companies can apply for loan against commercial property/ office premises.
  • The loan amount can be utilised for repaying existing loans (including takeover), purchase of fixed assets, etc.
  • Loan is provided against built up property.
  • Maximum tenure offered is 10 years.
  • There are no prepayment penalties.

How to Calculate LIC Loan Against Property EMI

You can instantly check LIC loan against property EMI using LAP EMI calculator. It is free and easy-to-use online tool that helps you make an informed decision. Just click on the EMI Calculator and share loan amount, interest rate and repayment tenure. Submit Calculate & you will get EMI and loan repayment schedule.

Additional Reading: How to check free cibil score?

LIC Loan Against Property Customer Care

You can contact LIC Housing customer care by visiting the branch, calling customer helpline or writing/emailing your query.

Email your questions here: customersupport@lichousing.com

Call customer helpline: 912222178600

Fax: 912222178777

Headquarter Address:

LIC Housing and Finance Limited

Maker Tower-F, 13th floor,

Cuffe Parade

Mumbai-400 005

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Pre-Approved Loan Against Property @8.75% p.a 

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.


✅Can I prepay Loan Against Property? Are there any charges applicable?


Yes, you can pre-pay your Loan Against Property. No, foreclosure or pre-payment charges are not applicable on the prepayment of LIC LAP.

✅Can I apply for LIC Loan Against Property without income proof?


No, income proof is a must for availing any kind of loan from LIC. A lender offers loan only after determining the repayment capacity.

✅In which cities can I get a Loan Against Property from LIC?


LIC Loan Against Property is available in Chennai, Mumbai, Delhi, Kolkata, Pune, Bengaluru and all major cities of India.

✅What is the rate of interest applicable for LIC Loan Against Property?


LIC offers Loan Against Property at attractive interest rates starting from as low as 8.50% p.a.

✅Can I apply for LIC Loan Against Property using online channels?


Yes, you can apply online for LIC Loan Against Property. The digital loan application process is instant, faster and more convenient.

✅What type of properties can be hypothecated as collateral for LIC HFL LAP?


Any residential or commercial property with a clear title and under undisputed possession of the applicant can be used as collateral to avail a Loan Against Property from LIC. The age of property should be less than 35 years.