Loan Against Property (LAP)
Our best-in-class Loan Against Property offering will convert your
dream into reality with the below key Benefits
- Quick Sanction and Easy application
-
Borrow up to 75% of the property’s market
value at attractive interest rates - Flexible repayment period with doorstep services
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Reasons To Get Loan Against Property
Flexible Repayment Period
- Flexible Repayment Period
Choose from multiple repayment options you are eligible for such as Step-up, Step-down, and Extended tenure.
Long-term Appreciating Asset
- Long-term Appreciating Asset
Transparent Processing
- Transparent Processing
No Pre-payment Charges
- No Pre-payment Charges
Tax Benefit
- Tax Benefit
Our Offerings
Commercial
Pledge your commercial property and get a loan against its value.
Industrial
Have an industrial property to your name? Get a loan against its value and fund your needs.
Loan Against Plot Commercial
Loan available against a commercial plot of land at attractive interest rates.
Loan Against Plot Residential
Get a loan against a residential plot of land and meet the different financial needs that you might have.
Plot Purchase
Use the loan to buy a plot of land for your residential or commercial needs.
Residential
Get a loan against your residential property and get the funds that you need with flexible repayment tenures.
Micro LAP
A loan designed for the rural areas to cater to their specific financial needs.
Interest Rates Available*
For Salaried/Self Employed Professional (Any Amount)
(Upto 50 lakhs)
For Self Employed Non Professional (Any Amount)
(Upto 50 lakhs)
Who Can Apply For Loan Against Property?
Self Employed Professional
Self Employed Non-Professional
5 Things To Consider Before Taking A LAP
Loan Against PropertyEligibility
Eligibility criteria
- Property type | Residential or commercial
- Nationality | Indian citizen
- Minimum age for applying | 21 years
- Maximum age at loan maturity | 60 years for Salaried & 70 years for Self-employed
- Good credit history | Credit score to 650 or above, new to credit
- Employment | Salaried or self-employed
For Salaried/Self Employed Professional Fees & Charges
PROCESSING FEES & CHARGES
- Home Loans : Up-To 1% Of The Loan Amount
- Other Loans : Up-To 2% Of The Loan Amount
- Floating rate loans given to individuals, where all applicants and co-applicants are individuals: Nil
- Home Loans (other than floating rate Home Loans to individuals): 2% of principal outstanding
Default Penal Interest Rate / Non Conformance With Any Covenants / Stipulated Conditions
CONVERSION FEE
- When the facility amount is equal to ₹5 Lakh or lesser – ₹50 per property
- When the facility amount is greater than ₹5 Lakh – ₹100 per property
STATUTORY AND LEGAL CHARGES
- Stamp Duty
- Legal and other statutory charges
- Insurance Premium
- Creation charge with ROC
- MOE/MOD/Registration
MISCELLANEOUS RECEIPT
- ₹50/- per instance for Consumer and
- ₹500/- for Commercial CIBIL
Documents Needed
Salaried**
- Proof of Identity and Address
- Proof of Income
- Bank statement showing salary
- Proof of Other Income:
Self-Employed**
- Proof of Identity and Address
- Proof of Income
- Bank statement showing salary
- Proof of Other Income:
- Property Documents:
Tax Planning
Save Tax, invest more,
reach goals
- Tax-saving options, one click
- Save tax under different sections
Secured Business Loan
Secure business loans
for you
- Low interest, flexible payments
- One app, quick dispersals
FAQs on Loan Against Property
Loan Against Property (LAP) is a secured loan that allows you to borrow money by pledging your residential or commercial property as collateral. This means that the lender will have a legal claim to your property if you are unable to repay the loan.
ABHFL typically accepts the following types of properties as collateral for LAP:
• Residential properties (apartments, bungalows, houses)
• Commercial properties (shops, offices, warehouses)
• High loan-to-value ratio (LTV): You can borrow up to 75% of the market value of your property, which can provide you with a significant amount of funding.
• Flexible repayment options: You can choose a repayment tenure that suits your financial situation.
• Competitive interest rates: ABHFL offers competitive interest rates on LAP, making it an affordable option for borrowers.
• Quick processing times: ABHFL strives to process LAP applications quickly, so you can access the funds you need as soon as possible.
LAP can be used for various purposes, including:
- Home improvement and renovations: You can use LAP to finance home improvements, such as renovations, extensions, or upgrades.
- Debt consolidation: You can consolidate multiple debts into a single LAP, potentially reducing your overall interest payments and simplifying debt management.
- Medical expenses and emergencies: LAP can serve as a financial backup in case of unexpected medical expenses or emergencies.
- Education expenses: LAP can be used to fund education expenses for yourself, your children, or other family members.
- Business expansion: LAP can be used to finance business expansion plans, such as purchasing equipment, hiring new employees, or expanding operations.
You can avail of LAP for any personal or business purposes, provided the end use is not for any speculative or prohibitive reasons.
Loans can be availed with a tenure of up to a maximum of 20 years. Repayment will not ordinarily be extended beyond the age of retirement (if you are employed) or on your reaching 60 years of age, whichever is earlier. However, our endeavour will be to determine the repayment period to suit your convenience.
Yes, the loan can be prepaid. Please note that prepayment charges may be applicable. To know more about the charges, contact your Relationship Manager/Customer Service Desk, or you can contact us via our helpline at 1-800-270-7000.
The interest rate for an LAP will vary depending on your creditworthiness, the type of property you are pledging, and the loan tenure. Please contact the Customer Service Desk or your Relationship Manager for the current rates applicable, or you can contact us via our helpline at 1-800-270-7000.
HENOX provides dedicated customer support for LAP loan borrowers. You can reach us through our toll free number- 1800-270-7000, email, or online chat for assistance with loan applications, account inquiries, and any issues you may encounter.
Yes, ABHFL provides an online LAP calculator that can help you estimate your eligibility and EMI based on your property value, loan amount, and desired tenure.
You can apply for an LAP loan online via our website, or by visiting one of our branches. The application process typically involves providing your personal and financial information, property details, and income documentation. ABHFL will assess your eligibility and provide you with a loan offer.
Loan tenure up to 15 years*
Loan amount: Up to 65% of property value in case of commercial property.
Loan amount: Up to 75% of property value in case of residential property.
Individuals, including doctors, self-employed professionals, and salaried professionals, aged 25 to 85, can apply for a loan against property with us, provided they meet the required income criteria.
You can get a loan against property for up to 20 years or until your retirement age, whichever is shorter.
Yes! Our overdraft facility is accessible to all customers, offering a versatile financing option for both personal and business needs. With a predefined credit limit, you can withdraw as needed during the loan tenure, and interest is charged only on the utilised amount.
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