Loan Against Property
A Loan Against Property (LAP) helps you unlock the financial potential of your residential or commercial property without selling it. Whether you need funds for business expansion, medical expenses, education, or personal needs, Tata Capital offers high-value loans at attractive rates. You can get loan amounts up to ₹10 Crores*, enjoy an extended repayment tenure, and benefit from an attractive ROI starting from just 9% p.a.*.
With flexible eligibility, quick processing, and competitive interest rates, a Loan Against Property ensures you get the financial support you need while retaining ownership of your valuable asset.
Loan Against Property
Get immediate access to funds without selling your property. With Tata Capital’s Loan Against Property (LAP), you can borrow up to ₹10 Crore* and choose a repayment tenure of up to 240 months. Whether it’s for business expansion, personal requirements, education, medical emergencies, or debt consolidation — LAP offers complete flexibility with no usage restrictions.
Benefit from attractive interest rates starting at just 9% p.a.*, fast disbursal, minimal documentation, and a smooth application process designed to give you financial freedom when you need it most.
| LAP Loan Amount | LAP Loan Tenure | Interest Rate Starting @ |
|---|---|---|
| Up to ₹10 Crore* | 12 – 240 months | 9%* p.a. |
Loan Against Property — Interest Rates
Below are the latest TCL Retail Prime Lending Rates (TCL RPLR) applicable for Loan Against Property.
| 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)
Below are the historical Prime Lending Rates applicable for Loan Against Property (LAP).
| 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: These PLR rates apply to all cases disbursed before 1st May 2024.
Loan Against Property – Eligibility Criteria
Check the eligibility requirements for different applicant categories before applying for a Loan Against Property.
| Applicant Type | Eligibility Criteria |
|---|---|
| Salaried Individuals |
Segment: Working in MNC, Public Ltd. Co., Large Pvt. Ltd. Co., State Govt., Central Govt., PSU Age: 23 – 65 years (or retirement age, whichever is earlier at loan maturity) Occupational Stability: Minimum 3 years |
| Self-Employed Professionals |
Segment: Doctors, Architects, Chartered Accountants Age: 23 – 70 years at loan maturity Minimum Income: ₹2,50,000 per annum Occupational Stability: Minimum 3 years |
| Self-Employed Non-Professionals (Individuals) |
Segment: Traders, Retailers, Wholesalers Age: 23 – 70 years at loan maturity Minimum Income: ₹2,50,000 per annum Occupational Stability: Minimum 3 years |
| Non-Individuals (Firms / Pvt. Ltd. / Public Co.) |
Occupational Stability: Minimum 5 years Financial Requirement: Minimum 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 documentation. The required documents vary for salaried and self-employed applicants.
| Applicant Type | Required Documents |
|---|---|
| Salaried Individuals |
• Recent passport-sized photograph • Photo ID proof: Voter ID / Passport / Driving License / Aadhaar Card • PAN Card or Form 60 (if applicable) • Address proof: Voter ID / Passport / Driving License / Aadhaar Card • Signature verification document • Income proof: Form 16 for last 2 years • Bank statements for the last 12 months • Last 3 months' salary slips |
| Self-Employed Individuals |
• Recent passport-sized photograph • Photo ID proof: Voter ID / Passport / Driving License / Aadhaar Card • PAN Card or Form 60 (if applicable) • Address proof: Voter ID / Passport / Driving License / Aadhaar Card • Signature verification document • Income proof: ITR, Profit & Loss Statement, Balance Sheet • Bank statements for the last 12 months |
Providing these documents ensures smooth application processing and faster approval.
Features & Benefits of Loan Against Property
| Feature | Details |
|---|---|
| High Loan Amount | Get a loan ranging from ₹5 lakhs to ₹10 crores to meet business, personal, or emergency financial needs. |
| Competitive Interest Rates | Interest rates start at 9% per annum, making borrowing affordable. |
| Flexible Tenure | Repay comfortably over a tenure of up to 240 months with EMIs suited to your financial situation. |
| Minimal Documentation | Simple and minimal paperwork ensures a quick and hassle-free approval process. |
| Fast Processing | Quick approval and fast disbursal help you meet urgent financial requirements without delays. |
| Multiple Usage Options | Use the loan for business expansion, education, weddings, medical expenses, or other personal needs. |
| Wide Property Acceptance | Residential, commercial, and industrial properties are accepted as collateral. |
| Transparent Process | No hidden charges — clear terms and conditions ensure a fair and trustworthy borrowing experience. |
Properties Covered Under Loan Against Property
| Property Type | Details |
|---|---|
| Residential Property | Includes self-occupied flats, independent houses, and rented properties. Even older constructions may be accepted depending on valuation and condition. |
| Commercial Property | Eligible properties include shops, offices, showrooms, and other income-generating commercial spaces. Both self-occupied and rented commercial units are accepted. |
| Industrial Property | Warehouses, factories, and small manufacturing units can be pledged as collateral, provided they meet regulatory norms and are owned by the borrower. |
| Land / Plots | Loans can be availed against properly demarcated residential or commercial plots. Ownership must be undisputed with clear title, sanctioned plans (if applicable), and updated property tax receipts. |
Important RBI / Regulatory Updates
The following regulatory guidelines are applicable for non-individual borrowers and customers availing secured credit facilities from Tata Capital:
Legal Identity Identifier (LEI)
If a non-individual borrower has a total exposure of ₹5 crore and above from banks and financial institutions, they must obtain a Legal Entity Identifier (LEI) code at the time of loan sanction. Borrowers who fail to obtain the LEI within the prescribed timelines will not be sanctioned any new exposure nor granted renewal/enhancement of existing exposure.
| Total Exposure | LEI to be Obtained On or Before |
|---|---|
| Above ₹25 Crore | April 30, 2023 |
| Above ₹10 Crore up to ₹25 Crore | April 30, 2024 |
| ₹5 Crore up to ₹10 Crore | April 30, 2025 |
Retrieval of Original Immovable Property Documents
For foreclosure cases, borrowers may visit their servicing branch or any other branch specified by TCL to collect their original property documents at the time of foreclosure payment. In case of loan maturity, TCL will send an intimation within 30 days from the receipt of full and final repayment regarding document collection. Borrowers must collect their documents within 10 working days from the date of intimation. All borrowers and co-borrowers must carry self-attested valid KYC documents during retrieval.
Reset of Floating Interest Rate on EMI-Based Personal Loans
Individual borrowers who have opted for an Adjustable Rate of Interest (AIR) or Combined Rate of Interest can, at the time of interest rate reset, choose to:
- Switch to a Fixed Rate of Interest
- Increase or decrease EMI
- Increase or decrease the loan tenure
- Or choose a combination of the above options
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.
Salaried Individuals:
- Working in MNC, Public Ltd., Large Pvt. Ltd., State Govt., Central Govt., or PSU.
- Age: 23–65 years (or retirement age).
- Minimum annual income: ₹2,40,000.
- Minimum 3 years occupational stability.
Self-employed (Doctors, CA, Architects, Traders, Retailers, Wholesalers):
- Age: 23–70 years.
- Minimum annual income: ₹2,50,000.
- Minimum 3 years occupational stability.
2. What CIBIL score is required to apply for a loan against property?
A minimum CIBIL score of 700 is required. A higher score improves approval chances and may help secure better interest rates.
3. What type of property can I mortgage for a LAP?
Tata Capital accepts multiple property types:
- Residential property
- Commercial property
- Industrial property
- Land/plots
4. How can I obtain a Statement of Account for my LAP?
Download easily from Tata Capital’s website:
- Login to your account
- Select your loan account
- Download the Statement or Welcome Letter
5. How is the interest rate on a Loan Against Property determined?
Based on:
- Customer profile
- Credit score
- Property type & market value
- Loan tenure
- Interest type (fixed/floating)
6. Is there an age restriction for applying?
Yes. Minimum age is 23 years. Maximum age:
- 65 years for salaried (or retirement age)
- 70 years for self-employed
7. How long does it take to process a LAP application?
The process usually takes only a few days, provided eligibility and documents are complete.
8. Can I transfer my existing Property Loan to Tata Capital?
Yes. Benefits include:
- Lower interest rates
- Flexible tenure
- Nominal processing charges
- Top-up loan facility
9. Are there any hidden costs or fees?
No hidden charges. All fees are transparently communicated. Common charges include:
- Processing fee
- Part-payment charges
- Penal interest (for delayed EMI)
- Miscellaneous charges (cheque bounce, account maintenance, etc.)
10. Is my property at risk if I fail to repay?
Yes. Defaulting EMIs for 3 months may result in NPA classification and the property may be auctioned.
11. Can I apply jointly?
Yes. Co-applicant income improves loan eligibility and reduces EMI burden.
12. What is the procedure for foreclosing a LAP?
Foreclosure allowed after 12-month lock-in period. Charges: 4% of outstanding principal + GST.
13. What is the procedure for prepayment?
Customers may contact branch/call centre/email. Standard part-payment and foreclosure charges apply.
14. Who is eligible for LAP?
Salaried, self-employed professionals, and business owners with clear-title residential or commercial property.
15. Is LAP a good idea?
Yes. Lower rates and longer tenure make it ideal for large expenses like business expansion, education, or medical emergencies.
16. What tax proofs are required?
Income Tax Returns (2–3 years), Form 16 for salaried, and financial statements for self-employed.
17. What is Broken Period Interest (BPI)?
Simple interest charged from loan disbursement date to first EMI date. Applicable only if a gap exists between disbursement & EMI start.