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@ 11.50% p.a
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Meet your urgent financial needs with a loan against your property, offering a tenure of up to 240 months. At Tata Capital, we provide loans of up to Rs. 10 crore* with no restrictions on usage, making it a flexible solution for both personal and business expenses. Enjoy benefits like attractive interest rates, a long repayment tenure, quick disbursal, and a hassle-free application process.
LAP Loan Amount
Upto 10 Cr
LAP Loan Tenure
12- 240 months
Interest rate starting @
9%* p.a
| Processing Fee | Details |
|---|---|
| Residential & Commercial Properties (HE) | 1% to 3% of the finance amount + GST |
| Rest Other Properties | 1.25% to 3% of the finance amount + GST |
| SaRaL / Mint Loan | 1.25% to 3% of the finance amount + GST |
| Rate of Interest (ROI) | Details |
|---|---|
| Fixed ROI | 13%* to 17% |
| Floating ROI | 9%* to 17% |
A Loan Against Property (LAP) offers a convenient financial solution to secure funds for personal or business needs. However, understanding the LAP interest rate is important to determine the overall cost of borrowing and your monthly repayment obligations. Let's look at the loan against property interest rate in detail so you can make an informed decision.
| Effective From | TCL RPLR |
|---|---|
| September 1st 2024 | 11.50% |
| May 1st 2024 | 11.30% |
Note: The above PLR will be applicable for the cases disbursed on or after 1st May 2024.
| Effective From | PLR |
|---|---|
| September 1st 2024 | 20.20% |
| March 11th 2024 | 20.00% |
| March 3rd 2023 | 19.75% |
| January 1st 2023 | 19.50% |
| September 30th, 2022 | 19.25% |
| August 22nd, 2022 | 18.75% |
| June 15th, 2022 | 18.25% |
| May 16th, 2022 | 17.75% |
| January 1st, 2019 | 17.45% |
| October 1st, 2018 | 17.15% |
| July 1st, 2018 | 16.85% |
| May 1st, 2018 | 16.65% |
| November 1st, 2015 | 16.50% |
| May 1st, 2015 | 16.65% |
| December 10th, 2013 | 16.75% |
| September 1st, 2013 | 16.65% |
| March 1st, 2013 | 16.40% |
| October 1st, 2011 | 16.50% |
| July 1st, 2011 | 16.00% |
| April 1st, 2011 | 15.50% |
| December 20th, 2010 | 14.75% |
| November 15th, 2010 | 14.25% |
| January 1st, 2009 | 13.75% |
Note: The above PLR will be applicable for the cases disbursed before 1st May 2024.
If you're a salaried individual, you must fulfil the following loan against property eligibility criteria:
Segment - Working in MNC / Public Ltd. Co/ Large Pvt. Ltd. Co./State Govt/ Central Govt. / PSU
Age - Minimum- 23 Years and Maximum- 65 Years or age of retirement - whichever is earlier at loan maturity
Occupational Stability - Minimum 3 Years
If you're a self-employed professional, you must fulfil the following loan against property eligibility criteria:
Segment - Doctors, Architects, Chartered Accountants
Age - Minimum- 23 Years and Maximum- 70 Years at loan maturity
Income per annum - Rs 2,50,000
Occupational Stability - Minimum 3 Years
If you're a self-employed individual, you must fulfil the following loan against property eligibility criteria:
Segment - Traders, Retailers, and Wholesalers
Age - Minimum- 23 Years and Maximum- 70 Years at loan maturity
Income per annum - Rs 2,50,000
Occupational Stability - Minimum 3 Years
Applying for a Loan Against Property with Tata Capital is simple and requires minimal paperwork. The loan against property documents required vary based on whether you are salaried or self-employed.
If you are a salaried employee meeting the LAP eligibility criteria, you need to submit the following:
Recent Passport-Sized Photograph
Photo Identity Proof – Voter ID, Passport, Driving License, or Aadhaar Card
PAN Card or Form 60 (if applicable)
Address Proof – Any of the following: Voter ID, Passport, Driving License, or Aadhaar Card
Signature Verification Document
For income proof, submit Form 16 for the last 2 years and a copy of your bank statements for the last twelve months
A Copy of your Salary slips for the last three months
If you are self-employed and eligible for a Loan Against Property, the required documents include-
Recent Passport-Sized Photograph
Photo Identity Proof – Voter ID, Passport, Driving License, or Aadhaar Card
PAN Card or Form 60 (if applicable)
Address Proof – Voter ID, Passport, Driving License, or Aadhaar Card
Signature Verification Document
For income proof, submit Income Tax Return, Profit and Loss, Balance Sheet & a copy of your bank statements for the last 12 months
Providing these documents ensures a smooth application process, helping you secure a Loan Against Property with ease.
If you meet the eligibility criteria mentioned above, follow these steps to apply for a property loan against property online with Tata Capital :
That's it! Once we successfully verify the application form and the submitted documents, the sanctioned loan amount will be disbursed to your account in no time.
At Tata Capital, we understand that every property is unique, and so are your funding needs.
Here’s a detailed look at the types of properties eligible:
Residential Property: Whether it’s a self-occupied flat, an independent house, or a rented-out property, you can mortgage it to avail of a LAP. Even older constructions may be considered, subject to condition and valuation.
Commercial Property: This includes shops, offices, showrooms, or any other income-generating commercial space. Both rented and self-occupied commercial properties are eligible.
Industrial Property: Warehouses, factories, and small manufacturing units can also be pledged, provided they are owned by the borrower and meet regulatory guidelines.
Land/Plots: Loans can be availed against plots properly demarcated for residential or commercial use.
To qualify for a loan against land or property, the ownership should be undisputed, with all documents in place, including a clear title, sanctioned building plans (if constructed), and up-to-date property tax receipts.
| Total Exposure | LEI to be obtained on or before |
|---|---|
| Above Rs.25 Cr | April 30, 2023 |
| Above Rs.10 Cr upto Rs.25 Cr | April 30, 2024 |
| Rs.5 Cr and above, upto Rs.10 Cr | April 30, 2025 |
Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans: If an individual borrower has taken an EMI-based personal loan and has chosen an Adjustable Rate of Interest (AIR) or Combined Rate of Interest, in case of reset of the rate of interest, the Borrower has the option to switch to ‘Fixed Rate of Interest’ or opt for enhancement/reduction in EMI or tenure or combination of both. To know more about the options available and the possible impact of each of the available options, click here.
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Both salaried and self-employed individuals can apply for a loan against property with Tata Capital. The eligibility criteria are as follows:
Salaried employees-
Employed with an MNC, Public Ltd. Co., Large Pvt. Ltd. Co., State Govt., Central Govt., or PSU.
The minimum age is 23, and the maximum is 65 or the retirement age, whichever is earlier, at loan maturity.
Annual income of at least Rs. 2,40,000.
Minimum 3 years of occupational stability.
Self-employed individuals (doctors, architects, CAs, traders, retailers, and wholesalers)-
The minimum age is 23, and the maximum is 70 or the retirement age, whichever is earlier, at loan maturity.
Annual income of at least Rs. 2,50,000.
Minimum 3 years of occupational stability.
Your credit score is a numerical representation of your creditworthiness. A higher credit score can help you secure a loan against property at better terms, such as an improved repayment tenure and lower interest rates. Generally, maintaining a good credit score increases the likelihood of loan approval.
At Tata Capital, we accept a diverse range of properties as collateral for a loan against property. You can mortgage commercial, residential, or industrial properties. These can include:
This variety of options provides flexibility in securing the loan you need.
Interest rates can be crucial when it comes to determining where to secure your loan from. At Tata Capital, we offer one of India's most competitive interest rates.
The following factors are considered while determining a loan’s interest rate.
You can calculate your monthly EMI based on your loan amount and the interest rates offered to you through our loan against property EMI calculator.
Yes, age is one factor determining your eligibility when applying for a lap loan. The minimum age is 23 years, while the maximum age is 65 years or the age of retirement, whichever is sooner. For self-employed individuals, the maximum age is increased to 70 years.
Generally, younger individuals have a better chance of securing a lap loan than someone close to retirement. They also get the benefit of applying for a longer loan tenure.
Tata Capital strives to ensure a quick and hassle-free loan application process for its customers. With the online application, the duration of the complete loan application for a loan against land will not take more than a few days.
Before applying, it is important to check whether you meet the following loan eligibility criteria.
Yes, Tata Capital offers an efficient and hassle-free process for accommodating a balance transfer from another lender to us. Thanks to our speedy approval process, you can transfer your existing loans to Tata Capital and start your new loan journey with us in just a few days.
By opting for a balance transfer of your existing loan against property to Tata Capital, you can avail of the following benefits.
At Tata Capital, we believe in complete transaction transparency with our customers. So, you don’t have to worry about any hidden costs, as all the charges levied will be transparently conveyed to you.
When availing of a loan against land, you might come across the following charges.
Miscellaneous charges include costs like account maintenance, loan cancellation, cheque bounce charges, etc.
Yes, failing to repay the loan may put your property at risk. If you fail to repay your loans or default on your EMIs for three consecutive months, Tata Capital can declare you an NPA (Non-performing asset).
Once that happens, your property can be auctioned to recover losses. Furthermore, the credit score of both you and your co-borrower can take a big hit, which may negatively impact your future loan applications.
To make sure you don’t default on your loan repayments, it is encouraged to use the EMI calculator to preplan your finances before applying.
Yes, Tata Capital allows you to apply for a lap loan along with a co-applicant. In such cases, both applicants' income stability and credit score are considered during the loan approval process.
Applying for a combined loan is beneficial since it distributes the financial burden evenly between the two applicants. However, both applicants must pass the eligibility criteria and provide the necessary documents during the application.
Tata Capital provides you with the option of prepaying or foreclosing your loan. This option is available after the lock-in period (first 12 months after the disbursal of the loan amount) lapses.
However, foreclosing your loan will attract foreclosure charges. At Tata Capital, 4% of your outstanding principal amount and GST is charged as a foreclosure fee.
Following Foreclosure & Part-payment charges are applicable. Our customer care representative at the Branch, Call or Email will assist you for the next steps.
Salaried individuals, self-employed professionals, and business owners owning a residential or commercial property with a clear title and steady income can apply for a loan against property, subject to Tata Capital’s eligibility criteria.
Yes, a loan against property can be a good option for large funding needs. It offers lower interest rates and longer tenures compared to unsecured loans, making it suitable for business expansion, education, or medical expenses.
You’ll need to submit Income Tax Returns (ITRs) of the past 2–3 years, Form 16 (if salaried), and financial statements (if self-employed) as part of the documentation for loan assessment and approval.
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