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ICICI Bank offers a secured loan type in the form of a Loan Against Specialised Property, with a slight modification to benefit the borrowers. It is specifically offered by the bank, wherein a borrower can secure a loan by mortgaging only a specific use property.

Available at affordable interest rates, get easy access to funds with a maximum loan amount on your LAP of up to Rs 5 crore and enjoy comfortable Loan Against Specialised Property EMIs, with a long tenure, of up to 10 years.

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Specialised Property Includes

Loan Against Specialised Property Eligibility

easy-access tenure

Resident Indian

Self Employed

Any resident Indian can apply for a Loan Against Specialised Property

Any self-employed individual with a minimum age of 25 to a maximum of 65 years, can apply

 

  • You can apply for the loan, individually or jointly
  • All property owners need to be co-applicants. However, it is not necessary that the co-applicants need to be co-owners
  • Self-employed professionals can be doctors, lawyers, chartered accountants, architects, consultants, engineers or company secretaries 
  • Self-employed non-professionals can be hospital operators/owners, trusts, societies, private or public limited companies, partnership firms or proprietorship firms.

Proof of Identity and Residence

  • PAN Card
  • Aadhaar Card
  • Passport
  • Voter ID
  • Driver’s License

Proof of Income

  • Income Tax Returns, along with income computation for the last 3 years
  • Last 3 years Balance Sheet and Profit & Loss account statements of the business entity, attested by a CA
  • Last 6 months bank statements of the business entity

Property Documents

  • Copy of the Buyer Agreement
  • Title deeds of the property, including the previous chain of documents from previous owners

Other Documents

  • Details of ongoing loans of the borrower and the business, including outstanding amount, security, purpose, instalments etc.