L&T Finance provides Loan Against Property starting from 9.50% p.a. for loan amounts up to Rs 7.5 crore, with repayment periods extending up to 18 years. Additionally, LAP against residential properties (whether self-occupied, rented, or vacant) starts from 9.60% p.a. for tenures up to 15 years. Other properties accepted as collateral for LAP include warehouses, godowns, banquets, nursing homes, farmhouses, guest houses, etc.
| L&T Finance Loan Against Property Highlights | |
|---|---|
| Interest Rate | 9.50% p.a. onwards (LAP on Commercial Property, Residential Property) |
| Processing Fees | Up to 2% of loan amount |
| Loan Amount | Rs 10 lakh-Rs 7.5 crore |
| Tenure | Up to 18 years |
L&T Housing Finance provides Loan Against Property with interest rates starting from 9.50% p.a. onwards. While the specific details about differential interest rates based on factors like credit score, loan amount, tenure, occupation profile, employer's profile, etc., are not disclosed by the HFC, it's common for lenders to consider these factors when determining Loan Against Property interest rates.
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 Fee | Up to 2% of loan amount |
| Bounce Charges | Rs 1,000 |
| Pre-payment / Foreclosure Charges | Nil |
| Loan Cancellation Charges | Rs 5,000 |
| Interest Rate Conversion Charge | 0.5% of balance amount or min. Rs 10,000, whichever is higher |
L&T Finance offers Loan Against Property (LAP) on commercial properties for both self-employed professionals and non-professionals.
Self-employed Professionals:
Self-employed Non-Professionals:
Loan Against Property (LAP) on Residential Property is available for both salaried individuals and self-employed non-professionals:
Salaried Individuals:
Self-employed Non-Professionals:
In addition to the mentioned eligibility criteria, L&T Housing Finance may also take into account factors such as credit score, monthly income, occupation profile, and EMI/NMI ratio while assessing the eligibility of applicants for Loan Against Property, similar to other lenders.
Also read: Best Loan Against Property Eligibility
For Salaried Individuals, the documents required to avail of L&T Housing Loan Against Property (LAP) are as follows:
For Self-employed Professionals, the documents required for availing L&T Housing Loan Against Property (LAP) are as follows:
For Self-employed Non-Professionals, the documents needed are:
Also Read : Best Loan Against Property Documents Required
Yes, you can prepay the loan, subject to the terms and conditions specified at the time of the loan application.
The maximum loan amount is determined by the market value of the property as assessed by L&T Finance. The exact amount will be specified after approval and successful verification.
Any salaried or self-employed Indian national who is creditworthy, possesses a suitable net worth, and has the capacity to repay the loan is eligible to apply for a loan against property from L&T Finance. The applicant should be over 22 years of age at the commencement of the loan.
If you urgently need funds for personal or business purposes, applying for a Loan Against Property (LAP) can be a better option than opting for a personal loan. LAP typically offers competitive interest rates, and the use of funds is flexible, making it a suitable choice for various financial needs.