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Loan Against Property Interest Rates & Charges

Processing Fee

A loan against land interest rate will vary from a loan against commercial property interest rate. But, besides the loan against property interest rate, you'll have to pay a processing fee depending on the type of property.

  • Residential and Commercial properties (HE) - 1% of finance amount + GST and up to 3%
  • Rest all other properties (HE Plus) - 1.25% of finance amount + GST and up to 3%
  • Mint Loan - 1.25% of finance amount + GST and up to 3%

 

Part Payment Charges

12 months lock-in period.

After 12 months, a maximum of 25% of the principal outstanding is allowed by way of part prepayment during the entire tenor of the loan, with payments being made in 2 tranches at the maximum.

 

Penal interest

3% on Overdue Amount per month

 

Rate of Interest
 

  • Fixed ROI – 14.25%

(The above fixed ROI can be opted by the borrowers (Individual/Non-Individual) while availing a fresh LAP loan from the Tata Capital. However, in case of rate change, as per the circular “Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans” issued by the RBI, Individual Borrower having an existing EMI based loan at floating ROI for personal purpose would have an option to switch to the above ‘Fixed Rate of Interest’ i.e., 14.25% or opt for enhancement/reduction in EMI or tenure or combination of both.

  • Floating ROI – 9% onwards

Loan Against Property - Prime Lending Rates (PLR)

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%

    Miscellaneous Charges

  • Bounce Charges

    ₹ 600

  • Mandate Rejection Service Charge

    ₹ 450 + GST

    Charges will be applicable on your EMI Due date in case the account does not have an Active mandate after the exhaustion of the given post-dated cheques. This charge would be applied every month until there is an Active Mandate linked to the account.

  • CCOD Annual Maintenance Charges

    ₹ 10,000 + GST

  • Application Fees

    Up to ₹ 3 Cr - ₹ 3,000 + GST
    Above ₹ 3 Cr - ₹ 5,000 + GST

  • Statement of Accounts

    Soft Copy – Nil
    Branch walk-in - ₹ 250 + GST

  • Loan Cancellation Charges

    ₹ 25,000 + GST

  • Instrument Swap Charges

    ₹ 550 + GST

  • Duplicate Repayment Schedule

    ₹ 550 + GST

  • Duplicate NOC

    ₹ 550 + GST

  • One-Time Maintenance Charges

    ₹ 2000 + GST

  • Document Retrieval Charges

    ₹ 5000 + GST

  • LOD Statement Request Charges

    ₹ 1000 + GST per request

  • Provisional LAP Interest Rate Certificate Request charges

    ₹ 200 + GST per request

  • Final LAP Interest Rate Certificate Request charges

    ₹ 200 + GST per request

  • Other Statements Request charges

    ₹ 500 + GST per request

  • Stamp Duty

    At Actuals

  • Broken Period Interest

    At Actuals

  • Legal & Technical Charges

    Up to ₹ 1 Cr - ₹ 6,000 + GST per property
    Above ₹ 1 Cr - ₹ 11,000 + GST per property

  • Switch Fee Charges

    • 12 months lock-in period - No changes allowed
    • After 12 months - 5000 + GST or 0.10% + GST of POS whichever is higher - For rate reduction less than 0.75%
    • 7500 + GST or 0.15% + GST of POS whichever is higher - For rate reduction greater than 0.75% to 1.50%
    • 10000 + GST or 0.25% + GST of POS whichever is higher – For rate reduction greater than 1.5%
  • Interest Rate Switching Charges

    Nil
    (It is clarified that the above pertains to the charges levied on Individual customers having EMI based personal loan for switching their rate from floating to fix or opting for enhancement/reduction in EMI or tenure or combination of both, in case of change in floating Rate of Interest applicable by TCL)

Foreclosure Charges

Floating Rate Scheme Individual Borrower with end use other than business No charges No charges No charges
Floating Rate Scheme Individual Borrower with end use as business 4% + Lock-in Period charges + taxes 4% + taxes 4% on prepaid amount over 25% of principal o/s as on 1st April of the respective Financial Year
Floating Rate Scheme Non- individual Borrower irrespective of end use 4% + Lock-in Period charges + taxes 4% + taxes 4% on prepaid amount over 25% of principal o/s as on 1st April of the respective Financial Year
Fixed Rate scheme Individual/s non individual borrowers irrespective of the end use 4% + Lock-in Period charges + taxes 4% + taxes 4% on prepaid amount over 25% of principal o/s as on 1st April of the respective Financial Year

Foreclosure Letter Charge : ₹ 500 + GST per request

Foreclosure within Lock-In Period : Lock-in period charges (Prevailing ROI x Principal Outstanding as on date of Foreclosure x Balance Lock-in) + Foreclosure charges (4%) + GST

Loan Against Property Interest Rate

With Tata Capital, you can avail of affordable property loans with LAP interest rates starting at 10.10%. Your loan against property interest rate will depend on factors like your employment type, income, credit history, existing debt, current interest rate on loan against property, etc. It will also depend on your property. For example, loan against land interest rate will vary from loan against commercial property interest rate or loan against plot interest rate, and so on.

 

Here's how these factors affect your loan against property interest rate-

  • Your Credit Score

    An excellent score works in your favor to avail of a larger loan amount at attractive loan against property interest rates. 

  • The Type of Property You Want to Mortgage

    The type of property you want to mortgage will also affect the LAP interest rate. Depending on this, you will have different LAP interest rates like-

     

    • Loan against land interest rate

    • Loan against commercial property interest rates

    • Loan against plot interest rate

    • Loan against property interest rates for properties like schools, hospitals, etc.

    • Loan against under-construction property interest rate, etc.

  • Property Value

    The loan against property interest rate will depend on the value of the collateral property. Some factors that help determine this are the location of the property, date of construction, existing disputes, size of property, etc. The loan against property interest rate will vary based on these factors.

  • Loan Tenure

    The loan against property interest rate will also depend on the tenure of your loan. If you avail of a loan for a longer duration, you will have to pay a lower LAP interest rate. The current interest rate on loan against property will also affect your LAP interest rate.

  • The Type of Loan Against Property Interest Rate You Select

    There are two types of interest rates of LAP- fixed LAP interest rate and flexible LAP interest rate. In fixed rate, your loan against property interest rate will be pre-decided. With a flexible interest rate of LAP, you will have to pay the current loan against property interest rate.

  • Your Profile

    The loan against property interest rate will depend on your age, income, occupation, city of residence, etc. The LAP interest rate will also vary depending on your employment type (salaried, self-employed, etc.). If you're in the early years of your career, you can avail of a lower loan against property interest rate. Make sure you have the required documents for income proof to get the best deal on the current loan against property interest rates. 

Disclaimer: The loan against property interest rates/charges indicated above are subject to revision at Tata Capital’s discretion from time to time.For the definitions of the above charges, please refer to the Master Terms & Conditions sheet.Soft copies of documents mentioned in the table above will be provided free of cost. For hard copies, please refer to the above table for the applicable fees & charges.