Loan Against Property

ICICI Bank’s Loan Against Property (LAP) is a quick and easy solution for all your financial needs, including business expansion, working capital or personal use. Loan Against Property can be availed against your residential, commercial or specialised property.

LAP is a unique proposition that offers loans for a longer tenure - a maximum of 15 years, at a low interest rate, resulting in lower obligations for the borrower. LAP can be availed by Salaried, Self-Employed Professionals and Self-Employed Non-Professional (entities) borrowers. This product provides an option to the borrower to avail the facility in combination of a Term Loan and Overdraft Facility, depending upon the requirement.

  For details, give us a missed call on 9022499400

  For details, give us a missed call on 9022499400

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Loan Against Property Features

Fund your business Lap tenure Transfer your lap Special offers

Quick and easy

Flexible offering

Multiple product offering

Special offers for doctors

Minimum documentation and faster loan processing

LAP provides flexibility in availing a Term Loan or an Overdraft combination, as per requirement

ICICI Banks offers various products to meet the requirements of all types of borrowers

ICICI Bank offers a unique proposition to doctors, enabling a higher loan amount


Eligibility Criteria for Loan Against Property


The eligibility for LAP is assessed based on the financials of the customer and the value of the property being offered as a collateral:


Loan Amount Rs 10 lakh – Rs 5 crore*
Age Minimum: 25 Years
Maximum: 65 Years or retirement age whichever is earlier
Eligible profiles Salaried & Self-Employed
Tenure Up to 15 Years
End use Business expansion, Long Term Working Capital, Debt Consolidation, equipment purchase, medical exigency, education/marriage of children, holiday, etc.

*On a case to case basis, ICICI Bank offers higher loan amount too.

Terms and Conditions apply.

Frequently Asked Questions (FAQs)

How does the bank assess what amount of Loan Against Property (LAP) can be funded?

The bank assesses the loan amount based on your income financials as well as the value of the property.

What type of property can I mortgage for LAP?

You can mortgage both residential and commercial property for availing LAP. However, the property should be free from any charge. You also can avail LAP against Select Properties such as Schools, Nursing Homes upto 30 Beds, Warehouses etc.

Can you offer LAP as an overdraft?

Yes, you can avail up to 90% of the total LAP as an overdraft.

What percentage of the property value can I avail as an LAP?

You can avail up to 70% of the property value as LAP. However, this percentage will depend on the property type and other checks.

What are the purposes for which I can avail an LAP?

You can avail an LAP for any business or personal use* like:

  • Business expansion
  • Long-term working capital
  • Debt consolidation to lower the Cash outflows
  • Purchase of equipment
  • Holiday
  • Education/Marriage of children

Can I avail LAP against rented premises?

Yes, you can avail. Loan to value ratio may vary depending upon the type of property

Can I foreclose the loan before Loan tenure?

Yes, you are allowed to foreclose the loan before the sanctioned tenure

I have availed LAP from ICICI bank 5 years back, Now I want to tenure extension for that Loan. Can I avail?

Yes, you can get the tenure extension done for that case.

Is it possible to get the Rate Conversion done as per prevailing Rate of Interest?

Yes, you can avail ROI conversion benefits

Difference between Home Loan & Loan Against Property?

Home Loan is availed to buy property whereas the Loan against property is taken against already owned property. In both the scenario client needs to Mortgage the underlined property with bank.

Can I transfer my Loan against property (LAP) with other banker for enhanced amount or tenure?

Yes , it is possible to transfer your loan to other banker for enhanced amount or tenure or Both.

Can I take part disbursement under LAP as per my need?

Yes, it is possible to take the disbursement in parts.

Can I take loan against my warehouse property owned by me?

Yes, Now it is possible to take loan against warehouse property under LAP as well as LRD.

Is it possible to take part of the term loan as Overdraft facility?

Yes, it is possible , provided minimum 10 % of the loan amount should be Term Loan. Only once TL is disbursed, OD limits can be established in account.

Can I apply for the loan for my business against my friend’s residential property?

No, Third party property cannot be offered to take LAP.

Is it mandatory to take all the property owners as co-applicant in the loan?

Yes, All the property owners should be party/co-applicant to the loan.

Is it allowed to sold off the property during the tenure of the loan?

Yes, it is very much possible provided either buyer of the property takes over the loan liability or customer make the payment of the balance amount.

Need Assistance?

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