ICICI Loan Against Property Interest Rates

Smooth Online Process | Flexible Repayment Tenure | Attractive Interest Rates

✓ Loan Against Property from ₹2 Lakhs to ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.99%


Taking a loan against property can be a great way to finance business expansion, or meet personal expenses. Applicants can use their commercial or residential property as collateral to gain access to quick and easy funds. ICICI Bank offers some of the lowest Loan Against Property Interest Rates in the market today.


Your specific interest rate will largely depend on a number of factors. An applicant’s age, occupation, and income all reflect the individual’s capacity to pay back and therefore a key factor. Additionally, the loan amount and tenure also play an important role in deciding the ICICI loan against property interest rate.

ICICI Bank Floating Rate Loan Against Property LAP

ICICI Bank offers two types of interest rates to LAP borrowers, fixed interest rate and floating interest rate. Fixed interest rates are generally higher, but remain unchanged during the tenure of the LAP. Floating interest rates fluctuate depending on a number of external factors and tend to be lower on most accounts. Currently, ICICI Bank loans against property interest rates start at 10.60% irrespective of the loan amount. In general, most ICICI Bank LAP schemes are floating, unless specifically requested by the customer. Another important benefit of a floating LAP is that borrowers are not required to pay any penalties or prepayment charges in the event of a foreclosure of their LAP account.

ICICI Loan Against Property Rates

ICICI LAP interest rates vary depending on a number of factors. Depending on the severity of change of the factors, interest rates can be proportionately lower or higher.


  • Loan Amount Applied for: Depending on the loan amount, interest rates will either be lower or higher. Applicants can borrow a maximum of ₹5 Cr.

  • Borrower’s Net Income: The higher the borrower’s net monthly income, the greater the repayment capacity. This will push the borrower’s eligibility for a higher loan amount, therefore impacting the interest rate.

  • Type of loans: Borrower can choose from a number of ICICI Bank LAP products depending on the borrower’s profile. There is also a choice between fixed and floating interest rates. The floating interest rate is the default scheme unless specified by the borrower.

  • Type of property: ICICI Bank offers LAP for both residential and commercial properties. However, the interest rate for both is different due to the nature of the value of the property. Additionally, the property’s age and location also play an important part in deciding the interest rate. 

  • CIBIL Score: A borrower’s CIBIL score reflects how responsible they have been in the past with credit. A higher CIBIL score generally invites lower interest rates and vice versa.

Interest Rate

10.60% p.a. onwards

Associated Charges

  • Processing Fee:  0.5% of the loan amount + Applicable Taxes
  • Administrative Charges: Rs. 5,000 + Applicable Taxes or 0.25% of the loan amount + Applicable Taxes, (whichever is lower)

Loan Repayment Tenure

12-180 months

*The charges are subject to policy changes of ICICI Bank, from time to time.

Factors that affect ICICI Loan Against Property Eligibility

To determine a borrower’s eligibility for ICICI Bank LAP, there are a number of criteria that an applicant must meet. The eligibility for LAP can be checked online before applying for a loan.


  • Age: The minimum age of the applicant (salaried and self-employed) must be 23 years. The maximum age must be 60 years and 65 years, for salaried and self-employed applicants respectively. Depending on the applicant's age, the tenure of the LAP will be decided.

  • Added incomes: In the event that the loan amount is insufficient to meet your financial needs, you can increase the LAP amount by including the incomes of other family members like spouses, children etc.

  • Loan Amount: Applicants can borrow a maximum of ₹5 Cr. But in order to improve your eligibility for the LAP, the bank needs to know whether you can pay back the loan comfortably. It’s therefore smart to apply for a loan that you can return comfortably.

  • Property Value: The LTV (Loan to Value Ratio) of your property is another important factor that determines eligibility. The LTV for commercial and residential properties is 60%. Before processing your loan application, ICICI Bank will conduct a thorough analysis of the property to assess the true market value and the saleability of the property.

Benefits of ICICI LAP

ICICI Bank LAP is a safe and convenient way to secure funds when in need. The application process is relatively simple and takes little to no time. The Bank lets you borrow money for the business as well as personal needs and will not charge you in case you feel the need to foreclose or prepay the LAP at any time. ICICI Bank offers some of the lowest Loan Against Property Interest Rates in the market today. Although your specific interest rate will largely depend on a number of factors, they are sure to be on the lower side. Finally, you get the option to choose longer tenure (up to 15 years) to pay back the loan. Longer tenure results in lower EMIs, so the payments don’t negatively impact your monthly cash cycle.

ICICI Bank Mortgage Loan EMI and Interest Calculator

ICICI Bank loan against property EMI calculator is a great way for applicants to know how much they will have to pay every month and the applicable interest rate. When calculating EMI amount and interest rates, there are primarily three factors that are considered:


  • Loan Amount – The loan amount is the amount of money the borrower is applying for. As a rule of thumb, the higher the loan amount the higher the monthly payments.

  • Rate of Interest – Interest will depend on various parameters. Under amortization, interest payments are generally higher during the initial months, while the principal remains low.

  • Loan tenure – The tenure of the LAP largely decides the EMIs and the interest rate. Longer tenures have lower EMIs, while shorter EMIs have higher EMIs. ICICI Bank offers a maximum tenure of 15 years, depending on the applicants' age.

To get a precise calculation of your monthly payments, it is best to use the ICICI Bank Loan Against Property EMI Calculator. This will save you time from having to calculate manually and is an exact calculation of your EMIs.

ICICI Bank Loan Against Property Documents Required

To apply for a LAP, ICICI Bank requires a number of documents to verify eligibility of the applicant. These documents include:

Documents Required

Self-employed Applicant 

Salaried Applicant

Completed Application Form



2 Passport Sized Photos



IRT two last years



ID Proof (Passport, DL, PAN, Etc)



Residence Proof ( Passport, Voter Card, Rent agreement)



6 Month Salary Slip with bank statement



Service Tax  or VAT Registration



In addition to the documents mentioned above, the bank also requires the following document pertaining to the property:


  • Registered sale deed for the house

  • Latest property tax receipt/s

  • Building plan approval from the local municipal corporation

Frequently Asked Questions

  • ✔️What is the percentage of loan against property?

    Your property is evaluated at a specific LTV (loan to value ratio). ICICI Bank calculates LTV for properties at 60%.

  • ✔️Which bank is best for loan against property in India?

    There are a number of factors that decide the best bank. This also includes a borrower preference of loan amount and tenure. You should decide your choice of Bank depending on which one fits your financial goals the best. You can consider ICICI Bank for Loan Against Property as it  offers higher loan amount at attractive interest rates, with flexible repayment tenures.