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Loan Against Property Interest Rates

Salaried Borrower

Slab	Priority Sector Lending (PSL)	Non Priority Sector Lending (Non PSL)
<=50 Lacs	RR +4.85% (8.85%) – RR+5.50% (9.50%)	RR +5.35% (9.35%) – RR+6.00% (10.00%)
50-100 Lacs	RR+4.60% (8.60%) – RR+5.25% (9.25%)	RR+5.10% (9.10%) – RR+5.75% (9.75%)
>100 Lacs	RR +4.35% (8.35%) – RR+5.00% (9.00%)	RR +4.85% (8.85%) – RR+5.50% (9.50%)

Self - Employed Borrower

Slab	Priority Sector Lending (PSL)	Non Priority Sector Lending (Non PSL)
<=50 Lacs	RR +4.85% (8.85%) – RR+5.50% (9.50%)	RR +5.35% (9.35%) – RR+6.00% (10.00%)
50-100 Lacs	RR+4.60% (8.60%) – RR+5.25% (9.25%)	RR+5.10% (9.10%) – RR+5.75% (9.75%)
>100 Lacs	RR +4.35% (8.35%) – RR+5.00% (9.00%)	RR +4.85% (8.85%) – RR+5.50% (9.50%)

Note : Priority Sector Lending (PSL) & Non Priority Sector Lending (Non PSL)

Repo Rate (RR) is 4.00% as on April 7, 2021

Above mentioned interest rates will vary basis various parameters such as the Bureau Score, Segments, etc

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Frequently Asked Questions (FAQs) for Loan Against Property Interest Rates

What is the interest rate in Loan Against Property?

Loan amount	Priority Sector Lending (PSL)	Non PSL
<= Rs 5 million	9.00%	9.10%
> Rs 5 million &<= Rs 10 million	8.95%	9.05%
> Rs 10 million	8.90%	9.00%

Does interest rate vary based on the type of property?

Yes, if it falls under the category of Select properties* laid down by ICICI Bank.

What all documents are required for Loan Against Property?

KYC documents of all applicants along with passport size photo
Business Entity proof in case of Self-Employed Professional (SEP)/ Self-Employed Non Professional (SENP)
Financial documents of applicants to appraise the particular application
Bank Statement/s of applicants
Property documents to validate the legal and valuation requirements.

What is the maximum and minimum term for which I can avail of a Loan Against Property?

You can avail of a Loan Against Property for a maximum term of 15 years.

What is a Loan Against Property and what are its benefits?

Loan against property or LAP is a secured loan type that allows you to pledge your property in exchange for a loan. Let’s get to know what is LAP and what are its benefits.

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Applying for a Loan Against Property is a great option to put your financial worries to rest. On the other hand, it can be a daunting task when you actually want to evaluate your monthly instalments. However, that can be resolved by using a Loan Against Property EMI Calculator. Read on to know how you can use this free online tool.

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Do’s and Don'ts of applying for Loan Against Property

If you are in urgent need of funds and have a property, it is easy to avail a Loan Against Property. Before applying for the loan, there are some do’s and don’ts you should pay attention to. Read further to know more.

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