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Loan Against Property Interest Rates

Salaried Borrower

ProductPriority Sector Lending (PSL)Non Priority Sector Lending (Non PSL)
Loan Against Property (LAP) RR +4.35% (8.35%) – RR+4.75% (8.75%) RR +4.85% (8.85%) – RR+5.25% (9.25%)
Non Residential Premises (NRP) RR+4.00% (8.00%) – RR+4.50% (8.50%) RR +4.50% (8.50%) – RR+5.00% (9.00%)
Lease Rental Discounting (LRD) RR +3.75% (7.75%) – RR+4.25% (8.25%) RR +4.25% (8.25%) – RR+4.75% (8.75%)

Self - Employed Borrower

ProductPriority Sector Lending (PSL)Non Priority Sector Lending (Non PSL)
Loan Against Property (LAP) RR +4.35% (8.35%) – RR+4.75% (8.75%) RR +4.85% (8.85%) – RR+5.25% (9.25%)
Non Residential Premises (NRP) RR+4.00% (8.00%) – RR+4.50% (8.50%) RR +4.50% (8.50%) – RR+5.00% (9.00%)
Lease Rental Discounting (LRD) RR +3.75% (7.75%) – RR+4.25% (8.25%) RR +4.25% (8.25%) – RR+4.75% (8.75%)

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

Repo Rate (RR) is 4.00% as on May 22, 2020

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 amountPriority 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?

  1. KYC documents of all applicants along with passport size photo
  2. Business Entity proof in case of Self-Employed Professional (SEP)/ Self-Employed Non Professional (SENP)
  3. Financial documents of applicants to appraise the particular application
  4. Bank Statement/s of applicants
  5. 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.

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