ICICI Bank provides Loan Against Property starting from 10.85% per annum for amounts up to Rs 5 crore and tenures up to 15 years. They have a special scheme for doctors, offering quick approval for loans up to 70% of property value. Additionally, ICICI Bank offers a home overdraft facility with credit limits of up to Rs 1 crore for salaried borrowers and Rs 5 crore for self-employed borrowers. Existing LAP borrowers can also avail of top-up loans.
| ICICI Bank Loan Against Property Highlights | |
|---|---|
| Interest Rate | 10.85%-12.50% p.a. |
| Processing Fees | Up to 1% of loan amount |
| Loan Amount | Rs 10 lakh - Rs 5 crore |
| Tenure | Up to 15 years |
| LTV Ratio | Up to 70% of property value |
ICICI Bank offers Loan Against Property with interest rates starting from 10.85% per annum. The bank sets different interest rates based on factors such as the loan amount and the applicant's employment profile. Additionally, other lenders may also take into account the credit score of applicants when determining their Loan Against Property interest rates.
| Loan Amount | Interest Rates (p.a.) |
|---|---|
| Above Rs 100 lakh | 10.85%-11.50% |
| Rs 50 lakh to Rs 100 lakh | 11.10%-11.75% |
| Up to Rs 50 lakh | 11.35%-12.00% |
| Loan Amount | Interest Rates (p.a.) |
|---|---|
| Above Rs 100 lakh | 11.35%-12.00% |
| Rs 50 lakh to Rs 100 lakh | 11.60%-12.25% |
| Up to Rs 50 lakh | 11.85%-12.50% |
Also read: Best Loan Against Property Interest Rate
| Name of the Lender | Interest Rate (% p.a.) | |
|---|---|---|
| State Bank of India | 10.00 - 11.30 | Apply Now |
| Axis Bank | 10.50 - 10.95 | Apply Now |
| Bank of Baroda | 10.85 - 16.50 | Apply Now |
| ICICI Bank | 10.85 - 12.50 | Apply Now |
| Standard Chartered Bank | Starts from 9.25% | Apply Now |
| HSBC Bank | 9.75 - 14.00 | Apply Now |
| Union Bank of India | 10.45% - 13.10% p.a. | Apply Now |
| PNB Housing Finance | 9.25 - 15.00 | Apply Now |
| IDFC First Bank | 9.00 - 16.50 | Apply Now |
| HDFC Bank Limited | 9.50 - 11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50 - 11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| Indiabulls Finance | 9.75% p.a. onwards | Apply Now |
| Tata Capital | 10.10 onwards | Apply Now |
| Bajaj Housing Finance | 9.75 - 18.00 | Apply Now |
| Punjab National Bank | 10.40 - 12.75 | Apply Now |
Also read: Best Loan Against Property EMI Calculator
| Particulars | Charges |
|---|---|
| Processing Fees | Up to 1% of loan amount |
| Pre=payment charges | 4% |
| CIBIL report charges | Rs 50 |
| Administrative Charges | Rs 5,000+GST or 0.25% + GST, whichever is lower |
| Conversion Charges | 0.5% of outstanding loan For permanently shifting from fixed to floating interest rate: 1.75% |
Also read: Best Loan Against Property Eligibility
The documents required for Loan Against Property by ICICI Bank include:
Also Read : Best Loan Against Property Documents Required
Yes, customers can avail up to 90% of the total Loan Against Property amount as an overdraft.
The maximum loan amount available under ICICI Bank's Loan Against Property is Rs. 5 crore. However, the actual loan amount provided to a customer depends on their financial situation and the value of the property being pledged.
You can use both residential and commercial properties as security to get a Loan Against Property. However, the property you offer as security must be free from any existing charges or liabilities.
Customers can use ICICI Bank's Loan Against Property for various personal or business needs, such as expanding a business, funding children's higher education, purchasing expensive equipment, and more.
The amount of loan that the bank approves depends on the customer's ability to repay, the type of property, and its market value. The bank typically offers loans of up to 70% of the property's market value, which is assessed by the bank's team of valuers.
