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Overview of Product

Loan Against Residential or Commercial Property in Bangalore, India

Owning a property in Bangalore opens doors to cost-effective financing through loan against property (LAP) options. LAP acts similarly to a home loan against property or residential property mortgage loan, but can also be used for commercial properties. Here’s why a LAP might be a smart move: Lower Interest Rates: Compared to unsecured loans, LAPs typically offer lower interest rates due to the security of the property collateral. This translates to significant savings over the loan term. Flexible Repayment: LAPs often come with longer repayment terms compared to other loans, allowing you to spread out your payments and manage your cash flow better. Higher Loan Amounts: With a property as security, lenders are often comfortable offering larger loan amounts through LAPs compared to unsecured options.

How Loan Against Residential or Commercial Property Works

  1. Pledge Your Property: You use your property’s ownership documents as security for the loan.
  2. Loan Amount: You can borrow up to a certain percentage (usually 60-75%) of the property’s market value.
  3. Interest Rates: LAP interest rates are typically lower than personal loans but higher than home loans. They can range from 8.75% to 15% per annum, depending on your credit score, loan amount, and lender.
4. Repayment Tenure: LAPs come with flexible repayment tenures, often extending up to 20 years.

Loan Against Residential or Commercial Property Interest Rate in Bangalore, India

Name of Lender Interest Rate
8.75% onwards
8.75% onwards
LIC Housing Finance
8.75% onwards
Kotak Mahindra Bank
8.75% onwards
8.75% onwards
Punjab National Bank
8.75% onwards
Bank of Baroda
8.75% onwards
IDFC First Bank
8.75% onwards
Axis Bank
8.75% onwards
Godrej Housing Finance
8.75% onwards
Canara Bank
8.75% onwards

Explore Loan Against Property Options in Bangalore:

Loan Against Residential Property: This is the most common LAP option, suitable for residential properties. Loan Against Commercial Property: This LAP caters to businesses that own commercial buildings or land (sites) in Bangalore.

Loan Against Residential or Commercial Property Processing Fees:

Processing fees, also known as origination fees, are charged by lenders to cover the administrative costs associated with evaluating your loan application. These fees typically range from 0.5% to 2% of the sanctioned loan amount.

Loan Against Residential or Commercial Property Pre-closure Fees:

If you plan to repay your loan against property before the end of the loan term, you might incur pre-closure charges. These fees vary depending on the lender and the remaining loan tenure. Generally, pre-closure fees are lower for longer remaining tenures.

Loan Against Residential or Commercial Property Conversion Fees:

Some lenders allow you to convert your loan against property into a different type of loan, such as a home loan. Conversion fees may apply in such cases, typically ranging from 0.5% to 1% of the outstanding loan amount.

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Loan Against Residential or Commercial Property EMI Calculator


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Eligibility Criteria for Loan Against Residential or Commercial Property in Bangalore, India

Our Financing against Property eligibility criteria at Grab Capital are thoughtfully crafted to simplify the application process, ensuring a hassle-free experience for you.

Documents required for Loan Against Residential or Commercial Property in Bangalore, India

At Grab Capital, we prioritize your convenience. Our Financing against Property application process is streamlined, requiring minimal documentation.

Note: Please be aware that the list of eligibility and documents mentioned above for the fund is not exhaustive. Additional documentation may be necessary as part of the application and processing requirements.

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Frequently Asked Questions

What is a loan against property (LAP)?

A loan against property (LAP) is a secured loan offered by banks and lenders in India. You can borrow money by using your property, residential or commercial, as collateral.  This means the lender has a claim on the property if you fail to repay the loan.

Is my property at risk if I fail to repay the Financing Against Property?

Failing to repay the financing could jeopardize your property. After three consecutive months of EMI defaults, your financing could be declared non-performing. In such a case, your property may be auctioned to cover losses. Additionally, both your and your co-borrower’s credit scores could suffer, affecting future financing applications. To prevent default, it’s advisable to use an EMI calculator for financial planning before applying for financing.

What is the maximum funding that I can avail on a property as LAP?

The maximum loan amount you can avail typically depends on the property’s market value and your creditworthiness.  Generally, lenders offer up to 60-75% of the property’s value.

Can I apply for Financing Against Property alongside someone else?

Yes, you can apply for a LAP financing with a co-applicant at Grab Capital. Joint applications consider both applicants’ income stability and credit scores for financing approval, distributing the financial burden evenly. Both applicants must meet eligibility criteria and provide required documents during the application.


Are there any hidden costs or fees with a Financing Against Property?

At Grab Capital, we prioritize transparent transactions with our customers. You can trust that we will openly communicate all applicable charges, ensuring there are no hidden costs to worry about.

What is the maximum term for which I can avail a Loan Against Property (LAP)?

The maximum loan term for LAP can vary depending on the lender, but it usually goes up to 15 years or up to the borrower reaching 75 years of age, whichever is earlier.

What is the security that I need to provide to avail a Loan Against Property (LAP)?

The security you provide is the property itself. The property documents will be held by the lender until the loan is fully repaid.

Is there a specific purpose that I should mention to avail such a loan?

No, there are usually no restrictions on how you can use the LAP funds.  Unlike home loans, LAPs can be used for various purposes, including business needs, education, medical emergencies, or debt consolidation.

Loan Against Residential or Commercial Property

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