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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 @
9.50%* p.a
| 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
Minimum Net Monthly Salary – Rs. 15,000
Occupational Stability - Minimum 3 Years
Calculate your eligibility using the Loan Against Property Calculator
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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A Loan Against Property (LAP) is a secured loan where a residential, commercial, or industrial property is pledged as collateral to borrow funds. The lender sanctions a percentage of the property’s market value, and you repay it through EMIs over a set tenure. You retain ownership and usage of the property unless you default.
Anyone meeting the following eligibility criteria can apply for a LAP from Tata Capital.
Age: 23 to 65 years for salaried employees; 23 to 70 years for self-employed individuals
Residency: Indian
Employment status: Salaried or self-employed
Minimum annual income: Rs. 2,40,000 for salaried employees; Rs. 2,50,000 for self-employed individuals
Tata Capital offers a fixed interest rate of 13% to 17% and a floating interest rate of 15% to 17% on a loan against property. The floating interest rate may change when the RBI’s repo rate is changed. The loan charges include:
Processing fee
Loan cancellation charges
LOD statement charges
Stamp duty
Legal and valuation fees
Repossession charges
Document handling and retrieval charges
Foreclosure/pre-payment charges
Here’s the step-by-step application process for a loan against property:
1. Fill out an application form
2. Submit the required documents
3. Await document verification
4. Receive a sanction letter from the lender
5. Expect a property assessment and legal scrutiny
6. Receive the funds directly into your bank account
Tata Capital usually requires around 7 to 15 days for loan against property approval and disbursal. It will vary, depending on the time taken for document verification and property assessment.
You can mortgage the following types of properties for LAP:
Residential property: self-occupied or rented flat or apartment
Commercial property: shops, retail outlets, and office spaces
Industrial property: manufacturing or warehousing units
Co-owned property: property jointly owned by family members
Agricultural land or vacant plot
You can use a loan against property EMI calculator to compare the offerings of different lenders by computing the EMI against different loan amounts and tenures. The tool helps save time and eliminate the scope for manual error, aiding in better long-term financial planning.
You can secure a loan against property without income proof, but the interest rates will be higher. Providing the lender with adequate information about your income source and mentioning the reason for not having relevant income proofs, or applying with a co-applicant, can strengthen your case.
Yes, you can opt for a loan against property balance transfer. Selecting Tata Capital for the balance transfer is a good choice as it offers affordable interest rates, a nominal processing fee, and a flexible loan tenure.
Yes. A co-applicant raises the loan amount and your chances of approval. You can apply for a LAP with family members who jointly own the property. This includes your spouse, brother, or unmarried daughter.
Yes, you can pre-pay your loan against property. There are no charges for a LAP availed at a floating rate of interest, while the charges for a fixed interest rate LAP are nominal. Check the specific details in your loan agreement.
Yes. Your property is at risk if you fail to repay a loan against property. The bank can take over possession of the property pledged as collateral and then auction or sell it to recover its dues.
The LTV ratio is the percentage of a property’s value that a lender will approve as a loan amount. You can secure a high LTV ratio anywhere from 75% to 90%. It is 10% higher for residential properties than for commercial properties. The property’s value, type, and location, along with credit score, income stability, borrower’s age, and existing debt, influence LTV.
You can use the funds from a loan against property for various personal or business purposes.
Business acquisition/expansion
Machinery/equipment purchase
Debt consolidation
Medical crisis
Children’s higher education
Home construction/renovation
Marriage
Retirement
Fortunately, there are no end-use restrictions as long as the requirement is legitimate.
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