Loan Against Property (LAP)
Unlock liquidity from your property. Quick approval, flexible repayment, and instant fund transfer. Get loan up to ₹1 Crore at competitive rates.
What is Loan Against Property?
A Loan Against Property (LAP) is a secured loan offered against your property as collateral. Unlike home loans which are used to purchase property, LAP allows you to unlock the value of your existing property for any financial need - business expansion, education, wedding, debt consolidation, or any other purpose.
Quick Approval
5-7 days
Flexible Use
Any purpose
High LTV Ratio
Up to 60-70%
Large Amount
Up to ₹1 Crore
LAP vs Home Loan
| Feature | Home Loan | LAP |
|---|---|---|
| Purpose | Property purchase only | Any purpose |
| Interest Rate | 8-9% | 8.5-10% |
| Max Amount | Up to 80% of property | Up to 60-70% of property |
| Processing Time | 15-30 days | 5-7 days |
| Max Tenure | 30 years | 15 years |
| Pre-payment Penalty | Usually yes | Rarely |
| Existing Property | Purchased in future | Must be mortgaged |
LAP Eligibility Criteria
1
Age
21 to 60 years at loan maturity
2
Income
Minimum ₹25,000/month for salaried, ₹3L+/annum for self-employed
3
CIBIL Score
700 or above (prefer 750+)
4
Property Value
Minimum ₹10 lakhs, maximum ₹50 crore
5
Employment
Stable job/business for 3+ years
6
Property Papers
Clear ownership, no mortgage/litigation
7
Income Tax Returns
Last 2-3 years for self-employed
8
Bank Statement
Last 6-12 months showing regular deposits
Key Benefits of LAP
⚡
Fast Approval
Get approved in 5-7 days
✓
Flexible Purpose
Use for any financial need
💰
Large Amount
Borrow up to ₹1 Crore
📋
Simple Process
Minimal documentation
↕️
Flexible Tenure
Repay in 5-15 years
🏦
Competitive Rates
From 8.5% p.a.
🔄
Refinance Option
Easy LAP refinancing
📱
Online Process
Apply from home
Frequently Asked Questions
What is the maximum loan amount I can get?
Up to 60-70% of your property's market value, capped at ₹1 Crore based on your profile and eligibility.
Can I get LAP on residential property?
Yes, you can get LAP on residential (flats, houses), commercial, or agricultural property that is mortgage-free.
Is pre-payment penalty charged on LAP?
Most banks do not charge pre-payment penalty on LAP. Check with the specific bank for their policy.
How long does approval take?
Usually 5-7 days after document submission, with quick fund disbursement in 2-3 days.
Can I get LAP on mortgaged property?
No, the property should be mortgage-free and have clear ownership without any legal issues.
What documents are required?
Property papers, ID proof, address proof, income proof (last 2-3 years ITR), bank statements, and property valuation report.
Get Your Best LAP Offer!
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LAP Application Process
1
Submit ApplicationDay 0
Fill online form with basic details
2
Document SubmissionDay 0-1
Upload property papers and financial docs
3
Property ValuationDay 1-3
Bank conducts property valuation
4
Credit CheckDay 2-3
CIBIL report and credit assessment
5
Approval & OfferDay 4-5
Loan amount approved and offer issued
6
DisbursementDay 5-7
Funds transferred to your account