1
Property Check
ICICI HFC checks Sameer's and Ayesha's properties to figure out how much loan they can avail.
2
Paperwork Made Simple
No long forms. ICICI HFC keeps it simple and quick.
3
Pay Back Comfortably
Sameer and Ayesha repay the loan as their businesses grow.
1
Property Check
ICICI HFC checks Sameer's and Ayesha's properties to figure out how much loan they can avail.
2
Paperwork Made Simple
No long forms. ICICI HFC keeps it simple and quick.
3
Pay Back Comfortably
Sameer and Ayesha repay the loan as their businesses grow.
| Charges | Rates* |
|---|---|
| Kyc Documents (Address Proof, Identity Proof) | ₹ 7,000 or ₹ 10,000 (depending on property) + GST @18%* |
| Processing/ Administrative Fees (Charged at the time of sanction) | 1% or 1.5% (depending on property) of the loan amount + GST @18%* |
| Prepayment charges | For Individuals (salaried or self-Employed), if you are able to pay off a part or all of your LAP, you can choose to settle it as per your convenience, no matter your chosen tenure. For non-Individuals, we charge a minimum rate of 4% for prepayment, in part or full.*# |
| Conversion fees | 1.00%, plus applicable taxes, for non-HL on POS amount* |
Loan Against Property (LAP) FAQs
Loan Against Property (LAP) FAQs
1. What is Loan against Property??
Loan Against Property (LAP) is a type of mortgaged loan that is given against a property pledged as a collateral. The property can either be an owned land, a house, or a commercial space. The property remains as a collateral with the lender until the entire loan amount is repaid.
2. Why Choose ICICI HFC for Loan Against Property??
ICICI HFC ensures a hassle-free application experience. Our eligibility criteria for LAP is very flexible and we have very easy eligibility norms. We also ensure minimal documentation and a quick turnaround time. At each one of our branches, you will meet a team of experts who will guide you through the entire process, one step at a time, and help you in every way they can to minimize your loan rejection.
3. What are the different purposes I can take a LAP for?
You can avail a LAP for both business and personal needs like. It can help with anything that may cause you stress and ensure that it does not.
- Business expansion
- Working capital
- Debt consolidation
- Your child’s education
- Your child’s wedding expenditure
- An urgent medical expense
or as may be specified by IHFC
4. What is maximum funding that I can avail on a property as LAP?
We fund LAP up to ₹10 crores. We have different types of products depending on the amount you need. You do not have to be worried about being self-employed as we provide loans to both, cash salaried and bank salaried professionals. In case you have any questions, you can view our eligibility section by clicking here
5. Who can be the co-applicant for my loan?
Your spouse or immediate family member can be your co-applicant, even if they are not earning. However, if you want to increase your eligibility, your co-applicant must be earning. If your property is co-owned by two or more people, it is necessary all co-owners are co-applicants for your loan.
