Loan Against Property

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✓ Loan Against Property from ₹2 Lakhs to ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 9.25%

What is a Loan Against Property?

Loan Against Property (LAP) is a secured credit instrument that you can avail by pledging your property as collateral. These loans also go by the name of mortgage loans.


The basics of these loans are similar to other forms of credits that you can avail. The interest rates on these loans start from 9.25%. Another defining feature of this loan is that you can avail amounts as high as ₹15 Crores.


However, there are few things, such as interest rates, features, and benefits, you should know before availing this loan. To that end, read on to know more about a loan against property.

Loan Against Property Details

Loan Amount

Up to ₹15 Crores

Interest rate

9.25% per annum onwards

Repayment tenure

Up to 25 years (300 months)

Processing Fee

Between 0.35% and 3% + taxes

Foreclosure charges

Up to 4% of the outstanding loan amount + taxes

Disclaimer: The above-mentioned rates and charges are subject to change at the lender’s discretion.

Compare and Apply - Loan Against Property Partners

Compare Loan Against Property offerings by top lending partners at Bajaj Markets and choose as per your requirement.

Our Partners

Minimum Interest Rate

Loan Amount/Tenure

Bajaj Housing Finance Limited

10.10% p.a.
  • Max Loan Amount - ₹1 Cr
  • Max Loan Tenure - 20 Years

PNB Housing Finance Limited

9.25% p.a.
  • Max Loan Amount - ₹15 Cr
  • Max Loan Tenure - 25 Years


14.00% p.a.  
  • Max Loan Amount - ₹40 Lakhs
  • Max Loan Tenure - 20 Years


      10.85% p.a.
  • Max Loan Amount - ₹5 Cr
  • Max Loan Tenure - 15 Years

LIC Housing Finance

      9.45% p.a.
  • Max Loan Amount - ₹15 Cr
  • Max Loan Tenure - 15 Years

Shubham Housing Finance

13.90% p.a.

  • Max Loan Amount - ₹20 Lakhs
  • Max Loan Tenure - 15 Years

Shriram Housing Finance

12.50% p.a.

  • Max Loan Amount - ₹10 Cr
  • Max Loan Tenure - 25 Years

Disclaimer: The values mentioned are applicable as of January 2023. The interest rates and associated charges can vary for each lending partner and are subject to change.

Calculate Your Loan Against Property EMI

Digital advancements have made it easier and convenient to avail a loan and also understand how it affects your finances. Tools like the digital calculator, commonly known as an Loan Against Property EMI calculator are popular examples.


This online calculator provides estimates of your EMIs based on your loan terms. With this you can also tweak the loan’s terms until you find suitable values. Best of all, these calculators are easy to use and you only need an internet browser. 

Loan Amount
  • Months
  • Years
Rate of Interest

Your monthly EMI is

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest Amount
Year Principal Interest Balance

Loan Against Property Features and Benefits


The features and benefits of the LAP you avail depends on the lender you choose. By availing a loan against property through Bajaj Markets, you can enjoy the following features and benefits:

High loan-to-value ratio with high loan amount

With LTV ratio going up to 75%, you can avail financing of up to ₹15 Crores

Flexible repayment tenure

With a repayment tenure of up to 25 years, you can repay the loan without straining your finances

Attractive interest rates

Starting interest rates of 9.25% p.a. enables you to avail cost-effective financing

Simple eligibility criteria

Simple eligibility criteria allows you to access funds with ease.

Quick, easy, and convenient digital application

End-to-end digital application minimises the hassles of applying for and availing the loan.

Tax benefits

Tax deduction benefits on interest payments of up to ₹2 Lakhs u/s 24(B) if the funding is used to purchase new house by salaried borrowers

Disclaimer: Terms and conditions apply to the above-mentioned benefits, and these may vary based on the lender.

Eligibility Criteria For Loan Against Property

Before applying for this loan, it is essential that you meet the loan against property eligibility criteria laid down by the lenders. Meeting the conditions mentioned below will increase your chances of a fast approval and swift financing.

  • Age (at the time application and completing repayment):

Lenders require you to be at least 21 years old while applying for a loan against property. Additionally, you should not be more that 70 years when the repayment tenure ends.

  • Income for salaried applicant

As a salaried applicant, you need a stable monthly income to prove that you can handle payments. Lenders generally require salaried applicants to have a monthly income of up to ₹30,000.

  • Income for self-employed applicants

For self-employed applicants, their business’s establishment and monthly income both dictate their eligibility. Self-employed applicants need to have businesses with a stable income and the necessary vintage.


The above eligibility criteria are general requirements, and can vary depending on the lender.

Documents Required for Loan Against Property

Knowing the document requirements beforehand allows you to furnish them promptly and avoid delays with loan processing. Here are a few general documents required to avail a loan against property:

1. A salaried employee must furnish the following documents:

  • Identity Proof: PAN card, Aadhaar card, Voter’s ID, passport, or any other credential issued by the Government of India

  • Address Proof: Voter’s ID, Aadhaar card, passport, utility bill, or ration card, or any other identity credential issued by the government

  • Latest salary slips of up to 3 months

  • Bank account statements going back 3 months

  • Latest Income Tax Returns (ITR), Form 16

  • Property documents

2. A self-employed individual, on the other hand, will need to furnish the following documents:

  • Voter’s ID, Aadhaar card, passport, or any other government-issued ID that can count as proof of identity

  • Utility bill, Voter’s ID, Aadhaar card, passport, or any other government-issued address proof

  • Bank account statements going back 6 months

  • Property documents

  • ITR filed by the company, audited financials

Check with the lender to know the exact documents required for your application to process seamlessly.

How to Apply for a Loan Against Property on Bajaj Markets?

Applying for a LAP loan is fairly straightforward and simple. Once you have been through all of the loan details and assessed every other aspect, you must follow the steps mentioned below to apply for a LAP loan. 


To apply through the Bajaj Markets website:


  • Click on ‘APPLY NOW’ on this page.

  • Fill the application form.

  • Choose the lender.

  • Enter the property details against which you are availing the loan.

  • Submit the form after re-checking the details.

To apply through the Bajaj Markets app:


  • Input your personal and income details.

  • Select the loan offer that suits your requirements

  • Enter the loan amount and tenure of your choice.

  • Upload the required documents for verification.

Once you have submitted the form, the lender will assess and verify your application. Post verification a representative will get in touch with you for documents, identity, and property verification.


After the whole process is completed, the lender will transfer the sanction to your bank account.

What to do if your Loan Against Property application is rejected?

The first course of action is to understand the reason for the rejection. Knowing why the lender rejected the application can help you gauge what can be done to avail the funding you need.


Common reasons why a lender may reject a loan against property application are:


  • Lack of a stable income due to frequent job change

  • Inadequate CIBIL score

  • Discrepancies in the paperwork

  • The property is built by an unapproved builder

  • Old property or negative results from field inspection

Once you know why the lender has rejected the application, there are few things you can do:


  • Negotiate with the lender

  • Work on your creditworthiness

  • Address the property-related issues

FAQs on Loan Against Property

  • ✔️What are the property types you can take a Loan Against Property for?

    You can avail a LAP loan by offering a residential, commercial, or industrial property as collateral. Usually, loans that are secured by putting up a residential property as a collateral attract the lowest interest rates.

  • ✔️What are the end uses of a Loan Against Property?

    A LAP loan has no defined end-use. It is essentially a high-value personal loan that the borrower is free to use as they please.

  • ✔️How is my eligibility for a Loan Against Property calculated?

    Loan Against Property eligibility is calculated on the basis of the borrower’s CIBIL score, monthly salary or income, property value, and debt-to-income ratio, if any, at the time of filing the LAP loan application.

  • ✔️Can I avail a loan against property without income proof or ITR?

    Yes, it is possible that a borrower can avail a LAP loan without income proof or income tax returns (ITR). However, they will need to compulsorily furnish bank account statements going back six months and pay the applicable processing fee via a cheque.

  • ✔️Is there an application fee for Loan Against Property?

    No, a hopeful borrower looking to secure a LAP loan does not have to pay an application fee. However, other charges such as processing fees and penalties will be applicable as and when they need to be levied.

  • ✔️Is it possible to apply for a Loan Against Property if it is a joint property?

    Yes, it is possible to apply for a LAP loan while offering up a jointly-owned property as a collateral. In fact, some financial institutions recommend the same as it increases the chances of loan approval.

Loan Against Property Glossary

  • Mortgage: This refers to the act of pledging your asset as a security/collateral to avail financing. In a loan against property, the property is mortgaged with the lender to avail the loan.
  • LTV: Short for loan-to-value, this ratio is the ratio of the amount you receive as a loan against the total value of the asset. For example, if the value of your property is ₹2 Crores and the lender offers financing of ₹1.40 Crores, i.e., 70% of the property value, then the LTV is 70%.
  • Offer letter: This is a letter of confirmation that the lender provides after approving your application. Also known as a sanction letter, it contains the details of the loan, including the approved amount, interest rate, and repayment tenure.
  • Property title:  This refers to the legal documentation stating details pertaining to ownership of the property. If the property you are mortgaging has multiple owners, you must acquire NOC (No Objection Certificate) from the other owners.
  • Disbursement: The process wherein the lender transfers the sanctioned loan amount to your account is called disbursement. The initial disbursement can either be full or partial, depending on the terms mentioned in the offer/sanction letter.