Loan Against Property

Loan Amounts up to ₹10 Crores*
Extended Loan Tenure
ROI starting from 9%* p.a.

Loan Against Property Up to ₹ 10 Crore*

Meet your urgent financial needs with a loan against your property, offering a tenure of up to 240 months. At Tata Capital, we provide loans of up to Rs. 10 crore* with no restrictions on usage, making it a flexible solution for both personal and business expenses. Enjoy benefits like attractive interest rates, a long repayment tenure, quick disbursal, and a hassle-free application process.

LAP Loan Amount

Upto 10 Cr

LAP Loan

Tenure12- 240 months

Interest rate starting @

9%* p.a

Loan Against Property Interest Rates - TCL Retail Prime Lending Rates (TCL RPLR)

Effective From TCL RPLR

September 1st 2024 11.50%

May 1st 2024 11.30%

Note: The above PLR will be applicable for the cases disbursed on or after 1st May 2024.

LAP Rate - Prime Lending Rates (PLR)

Effective From PLR

September 1st 2024 20.20%

March 11th 2024 20.00%

March 3rd 2023 19.75%

January 1st 2023 19.50%

September 30th, 2022 19.25%

August 22nd, 2022 18.75%

June 15th, 2022 18.25%

May 16th, 2022 17.75%

January 1st, 2019 17.45%

October 1st, 2018 17.15%

July 1st, 2018 16.85%

May 1st, 2018 16.65%

November 1st, 2015 16.50%

May 1st, 2015 16.65%

December 10th, 2013 16.75%

September 1st, 2013 16.65%

March 1st, 2013 16.40%

October 1st, 2011 16.50%

July 1st, 2011 16.00%

April 1st, 2011 15.50%

December 20th, 2010 14.75%

November 15th, 2010 14.25%

January 1st, 2009 13.75%

Note: The above PLR will be applicable for the cases disbursed before 1st May 2024.

Loan Against Property Eligibility Criteria

Salaried Individuals

If you're a salaried individual, you must fulfil the following loan against property eligibility criteria:

Segment - Working in MNC / Public Ltd. Co/ Large Pvt. Ltd. Co./State Govt/ Central Govt. / PSU
Age - Minimum- 23 Years and Maximum- 65 Years or age of retirement - whichever is earlier at loan maturity
Occupational Stability - Minimum 3 Years

Self-Employed Professionals

If you're a self-employed professional, you must fulfil the following loan against property eligibility criteria:

Segment - Doctors, Architects, Chartered Accountants
Age - Minimum- 23 Years and Maximum- 70 Years at loan maturity
Income per annum - Rs 2,50,000
Occupational Stability - Minimum 3 Years

Self-Employed Non-Professionals (Individuals)

If you're a self-employed individual, you must fulfil the following loan against property eligibility criteria:

Segment - Traders, Retailers, and Wholesalers
Age - Minimum- 23 Years and Maximum- 70 Years at loan maturity
Income per annum - Rs 2,50,000
Occupational Stability - Minimum 3 Years

Non-Individuals

Segment- Firm, Pvt. Ltd., Public
Must have occupational stability of at least 5 years (with at least 2 years of cash profit)

Documents Required to Avail Loan Against Property

Applying for a Loan Against Property with Tata Capital is simple and requires minimal paperwork. The loan against property documents required vary based on whether you are salaried or self-employed.

For Salaried Individuals

If you are a salaried employee meeting the LAP eligibility criteria, you need to submit the following:

Recent Passport-Sized Photograph
Photo Identity Proof – Voter ID, Passport, Driving License, or Aadhaar Card
PAN Card or Form 60 (if applicable)
Address Proof – Any of the following: Voter ID, Passport, Driving License, or Aadhaar Card
Signature Verification Document
For income proof, submit Form 16 for the last 2 years and a copy of your bank statements for the last twelve months
A Copy of your Salary slips for the last three months

For Self-Employed Individuals

If you are self-employed and eligible for a Loan Against Property, the required documents include-

Recent Passport-Sized Photograph
Photo Identity Proof – Voter ID, Passport, Driving License, or Aadhaar Card
PAN Card or Form 60 (if applicable)
Address Proof – Voter ID, Passport, Driving License, or Aadhaar Card
Signature Verification Document
For income proof, submit Income Tax Return, Profit and Loss, Balance Sheet & a copy of your bank statements for the last 12 months

Providing these documents ensures a smooth application process, helping you secure a Loan Against Property with ease.

Features & Benefits of Loan Against Property

1

High Loan Amount

Get a loan from Rs. 5 lakhs to Rs. 10 crores to meet business, personal, or emergency financial needs.

2

Competitive Interest Rates

Interest rates start at 9 percent per annum, keeping borrowing costs affordable.

3

Flexible Tenure

Repay over a period of up to 240 months or 20 years with EMIs suited to your financial situation.

4

Minimal Documentation

Simple paperwork makes the loan process quick and hassle free.

5

Fast Processing

Quick approval and disbursal help meet urgent financial needs without delays.

6

Multiple Usage Options

Use the loan for business expansion, education, medical expenses, weddings, or other personal needs.

7

Wide Property Acceptance

Residential, industrial, and commercial properties are accepted as collateral.

8

Transparent Process

No hidden charges with clear terms and conditions for a fair borrowing experience.

Properties Covered Under Loan Against Property

At Tata Capital, we understand that every property is unique, and so are your funding needs.Here’s a detailed look at the types of properties eligible:

1

Residential Property:

Whether it’s a self-occupied flat, an independent house, or a rented-out property, you can mortgage it to avail of a LAP. Even older constructions may be considered, subject to condition and valuation.

2

Commercial Property:

This includes shops, offices, showrooms, or any other income-generating commercial space. Both rented and self-occupied commercial properties are eligible.

3

Industrial Property:

Warehouses, factories, and small manufacturing units can also be pledged, provided they are owned by the borrower and meet regulatory guidelines.

4

Land/Plots

Loans can be availed against plots properly demarcated for residential or commercial use.

To qualify for a loan against land or property, the ownership should be undisputed, with all documents in place, including a clear title, sanctioned building plans (if constructed), and up-to-date property tax receipts.

Important RBI/Regulatory Updates

Legal Identity Identifier (LEI): If a non-individual borrower has an aggregate exposure of Rs. 5 crore and above from banks and financial institutions, then that borrower shall be required to obtain Legal Entity Identifier (LEI) code at the time of sanction. Borrowers who fail to obtain the LEI codes from an authorized Local Operating Unit (LOU) within the timelines mentioned below as per different exposure brackets shall not be sanctioned any new exposure nor shall they be granted renewal/enhancement of any existing exposure.

Total Exposure LEI to be obtained on or before

Above Rs.25 Cr April 30, 2023

Above Rs.10 Cr upto Rs.25 Cr April 30, 2024

Rs.5 Cr and above, upto Rs.10 Cr April 30, 2025

Retrieval of the Original Immovable Property Documents: For the retrieval of the original immovable property documents, the borrower in case of foreclosure of the loan, as per his/her preference, should visit the branch of service or any other branch as intimated by TCL where the documents would be made available with the foreclosure payment. In case of loan maturity, the borrower will receive an intimation from TCL within 30 days from the date of receiving the full and final repayment/settlement regarding the collection of the original property documents from branch(es) as aforesaid. Post receiving the intimation, the borrower should collect the documents within 10 working days. For the document retrieval process, the borrowers along with all the co-borrowers are required to bring self-attested valid KYC documents.

Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans: If an individual borrower has taken an EMI-based personal loan and has chosen an Adjustable Rate of Interest (AIR) or Combined Rate of Interest, in case of reset of the rate of interest, the Borrower has the option to switch to ‘Fixed Rate of Interest’ or opt for enhancement/reduction in EMI or tenure or combination of both.

FAQs on Loan Against Property

1. Who can get a loan against property?

Both salaried and self-employed individuals can apply for a loan against property with Tata Capital. The eligibility criteria are as follows:

Salaried employees-

Employed with an MNC, Public Ltd. Co., Large Pvt. Ltd. Co., State Govt., Central Govt., or PSU.

The minimum age is 23, and the maximum is 65 or the retirement age, whichever is earlier, at loan maturity.

Annual income of at least Rs. 2,40,000.

Minimum 3 years of occupational stability.

Self-employed individuals (doctors, architects, CAs, traders, retailers, and wholesalers)-

The minimum age is 23, and the maximum is 70 or the retirement age, whichever is earlier, at loan maturity.

Annual income of at least Rs. 2,50,000.

Minimum 3 years of occupational stability.

2. What CIBIL score is required to apply for a loan against property?

To qualify for a Loan Against Property, you must have a minimum CIBIL score of 700. A higher score can improve your chances of approval and help you secure better terms and interest rates.

3. What type of property can I mortgage for a LAP?

At Tata Capital, we accept a diverse range of properties as collateral for a loan against property. You can mortgage commercial, residential, or industrial properties. These can include:

Loan against residential property

Loan against commercial property

Loan against industrial property

Loan against land/plots

This variety of options provides flexibility in securing the loan you need.

4. How can I obtain a Statement of Account for my Loan Against Property?

With Tata Capital downloading your statement of account with Tata Capital is a quick and straightforward procedure. All you must do is follow these easy steps:

Visit Tata Capital’s official website

Use your log-in credentials to get access to your account

Select the loan account number you require

Download the Welcome letter of your loan account

5. How is the interest rate on a Loan Against Property determined?

Interest rates can be crucial when it comes to determining where to secure your loan from. At Tata Capital, we offer one of India's most competitive interest rates.

The following factors are considered while determining a loan’s interest rate.

Customer profile

Credit score

Type of property

Property’s market value

Tenure of the loan

Type of interest rates opted for

6. Is there an age restriction for applying for a Loan Against Property?

Yes, age is one factor determining your eligibility when applying for a lap loan. The minimum age is 23 years, while the maximum age is 65 years or the age of retirement, whichever is sooner. For self-employed individuals, the maximum age is increased to 70 years.

Generally, younger individuals have a better chance of securing a lap loan than someone close to retirement. They also get the benefit of applying for a longer loan tenure.

7. How long does it take to process an application for a Loan Against Property?

Tata Capital strives to ensure a quick and hassle-free loan application process for its customers. With the online application, the duration of the complete loan application for a loan against land will not take more than a few days.

Before applying, it is important to check whether you meet the following loan eligibility criteria.

Salaried individuals between the age of 23 to 65 years

Self-employed individuals between the age of 23 to 70 years

Income stability for a minimum of 3 years

Minimum income of Rs. 2,40,000 per year for salaried individuals

Minimum income of Rs. 2,50,000 per year for self-employed individuals

8. Can I transfer my existing Property Loan to Tata Capital?

Yes, Tata Capital offers an efficient and hassle-free process for accommodating a balance transfer from another lender to us. Thanks to our speedy approval process, you can transfer your existing loans to Tata Capital and start your new loan journey with us in just a few days.

By opting for a balance transfer of your existing loan against property to Tata Capital, you can avail of the following benefits.

Attractive interest rates

Loan tenure flexibility

Nominal processing fees

Top-up loan eligibility

9. Are there any hidden costs or fees with a Loan Against Property?

At Tata Capital, we believe in complete transaction transparency with our customers. So, you don’t have to worry about any hidden costs, as all the charges levied will be transparently conveyed to you.

When availing of a loan against land, you might come across the following charges.

Processing charges

Part-payment charges

Penal interest

Miscellaneous charges

Miscellaneous charges include costs like account maintenance, loan cancellation, cheque bounce charges, etc.

10. Is my property at risk if I fail to repay the Loan Against Property?

Yes, failing to repay the loan may put your property at risk. If you fail to repay your loans or default on your EMIs for three consecutive months, Tata Capital can declare you an NPA (Non-performing asset).

Once that happens, your property can be auctioned to recover losses. Furthermore, the credit score of both you and your co-borrower can take a big hit, which may negatively impact your future loan applications.

To make sure you don’t default on your loan repayments, it is encouraged to use the EMI calculator to preplan your finances before applying.

11. Can I apply for a Loan Against Property alongside someone else?

Yes, Tata Capital allows you to apply for a lap loan along with a co-applicant. In such cases, both applicants' income stability and credit score are considered during the loan approval process.

Applying for a combined loan is beneficial since it distributes the financial burden evenly between the two applicants. However, both applicants must pass the eligibility criteria and provide the necessary documents during the application.

12. What is the procedure for foreclosing or terminating a Loan Against Property?

Tata Capital provides you with the option of prepaying or foreclosing your loan. This option is available after the lock-in period (first 12 months after the disbursal of the loan amount) lapses.

However, foreclosing your loan will attract foreclosure charges. At Tata Capital, 4% of your outstanding principal amount and GST is charged as a foreclosure fee.

13. What is the procedure for prepaying or foreclosing a Loan Against Property?

Following Foreclosure & Part-payment charges are applicable. Our customer care representative at the Branch, Call or Email will assist you for the next steps.

14. Who is eligible for loan against property?

Salaried individuals, self-employed professionals, and business owners owning a residential or commercial property with a clear title and steady income can apply for a loan against property, subject to Tata Capital’s eligibility criteria.

15. Is a loan against property a good idea?

Yes, a loan against property can be a good option for large funding needs. It offers lower interest rates and longer tenures compared to unsecured loans, making it suitable for business expansion, education, or medical expenses.

16. What Tax Proofs Do you need to submit to our loan against property?

You’ll need to submit Income Tax Returns (ITRs) of the past 2–3 years, Form 16 (if salaried), and financial statements (if self-employed) as part of the documentation for loan assessment and approval.

17. What is Broken Period Interest (BPI) and when is it applicable?

Broken Period Interest (BPI) is simple interest charged for the days between the loan disbursement date and the first EMI date, subject to payment realization by the customer. It applies when there is a gap between these two dates and is calculated on the disbursed amount.

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