About Loans against Property (LAP) - For Individuals
Loan against property is a secured loan wherein the borrower pledges his/her existing residential property as collateral to avail funds for various personal and business requirements. The property is mortgaged with LIC Housing Finance Limited until the entire loan amount is repaid.
LIC Housing Finance Limited offers loans against property to meet various needs such as:
- Children's education or marriage
- Purchase of another property
- Business expansion or setting up a new venture
- Home renovation or extension
- Debt consolidation
- Medical emergencies
- Investment purposes
What to Expect from us
Purpose
Loan against Mortgage of Residential House / Flat
- Children´s Education / Marriage
- Purchase of another Property
- Business Expansion
Loan Amount
Minimum Loan Rs. 2,00,000/-
Loan Term
Maximum 15 Years
Security
- Equitable / Registered Mortgage of Residential Property - Age of property not more than 35 Years
- Demand Promissory Note
Only for Residents
This scheme is applicable to Indian Residents only
Loan Against Property Interest Rates
| CIBIL Range | ROI (Floating Up to Rs 15 crs) |
|---|---|
| CIBIL >= 750 |
9.70%
|
| 750 > CIBIL >= 700 |
10.30%
|
| 700 > CIBIL >= 600 |
11.55%
|
The above mentioned interest rates are floating - Linked to LHPLR
