Loan Against Property Interest Rates

Loan against Property Interest Rates given below are indicative in nature. It is based on market research conducted by Apnaloan.com every week. The actual rates at which an individual will be able to get loan against property depends on the individual’s financial profile and negotiating ability.

Apnaloan.com empowers loan seekers to strike a better loan against property deal by providing critical information and getting banks to compete for her/his loan.

LAP interest rate as on May 21,2008*

Banks LAP Interest Rate
Interest Rate Loan Amount Tenure Processing Fee Prepayment Charge Other Charges
Allaha
bad Bank
14.75 min Rs 1 lakhs, max Rs 150 lakhs max 7 years upto Rs 25 lakh- 1% of loan amt min Rs 2500, above Rs 25 lakh- Rs 150 lakh- 0.50% of loan amt min Rs 25000 2% of the outstand
ing balance if prepaid within 1 yr, 1% only in case of takeover
NA
Bank of Baroda 14.75 min Rs 1 lakhs, max Rs 100 lakhs max 7 years 1.00% min- Rs 1000, max- Rs 15000 NA Charges for late payment of EMI- 2% on overdue amt
Bank of India 13.25 min Rs 1 lakhs, max Rs 50 lakhs max 8 years 1% of loan amount min Rs 1500 max Rs 30000 NA Document
ation charges- on actuals
Canara Bank 15 – 15.25 NA max 5 years 0.5% of loan amt 2% in case of takeover Charge for changing from fixed to floating rate of interest
– 0.50%, Charge for changing from floating to fixed rate of interest
– 0.50%
Centra
l Bank of India
13.5 – 14 max Rs 50 lakhs max 6 years 0.5% of loan amt 1% in case of takeover Charges for late payment of EMI- 2%
HDFC Bank 13.5 – 14.5 min Rs 1 lakhs, max Rs 20 lakhs 1 – 10 years 2% 4% on the principa
l outstand
ing
Charges for late payment of EMI- 2% p.m. on overdue amt, Charge for changing from fixed to floating rate of interest
– 0.25% of loan amt, Charge for changing from floating to fixed rate of interest
– 1.5% of loan amt, Duplicat
e no due certific
ate- Rs 250, Cheque swapping charge- Rs 500, Cheque bounce charge- Rs 450, Statemen
t charge- Rs 500, Duplicat
e repaymen
t schedule
– Rs 500
ICICI Bank 13.5 – 14.5 max Rs 300 lakhs max 15 years 1% of loan amount or Rs 2000 (whichev
er is higher)
2% on the principa
l outstand
ing
Charges for late payment of EMI- 2% p.m., Charge for changing from fixed to floating rate of interest
– 1.75% on outstand
ing, Charge for changing from floating to fixed rate of interest
– 1.75% on outstand
ing, Cheque swapping charge- Rs 500, Cheque bounce charge- Rs 200, Document retrival
– Rs 500
IDBI Bank 11 max Rs 200 lakhs max 10 years 0.50% of the loan amt 2% Upfront fee- 1%
Punjab Nation
al Bank
14.75 min Rs 1 lakhs, max Rs 100 lakhs max 6 years Upto Rs 250000- NIL, above Rs 25000 & upto Rs 2 lac- Rs 300, above Rs 2 lac- Rs 250 per lac or part thereof NA Document
ation charges- Rs 1000, Upfront fee- 1% of the loan amount, maximum Rs 50000
SBI Bank 13.5 min Rs 0.25 lakhs, max Rs 100 lakhs 5 – 10 years NA N.A N.A

*Source: Apnaloan.com market research