Loan against property (LAP) lets you borrow against the value of your residential or commercial property. Rates are lower than personal loans because the property is collateral, but higher than home loans. Tenures go up to 15 years. The loan amount depends on the property value and your repayment capacity.
Monthly EMI
₹25,335
Apply for this loanPrincipal
₹20,00,000
Total interest
₹10,40,200
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹10,335 | ₹15,000 | ₹19,89,665 |
| 2 | ₹10,413 | ₹14,922 | ₹19,79,252 |
| 3 | ₹10,491 | ₹14,844 | ₹19,68,761 |
| 4 | ₹10,569 | ₹14,766 | ₹19,58,192 |
| 5 | ₹10,649 | ₹14,686 | ₹19,47,543 |
| 6 | ₹10,728 | ₹14,607 | ₹19,36,815 |
Rates shown are indicative only. Starting rates are guides; final interest, fees, and approval are set by the lending institution.
Lenders usually offer 50 to 70% of the property market value as loan. For a property worth 1 crore, you can expect 50 to 70 lakh depending on the lender, your income, and the property type.
LAP has lower interest rates (9 to 14% vs 10 to 24%) and longer tenures (up to 15 years vs 5 years), so EMI is lower. The trade-off is that your property is at risk if you default, and processing takes longer because of property verification.
Yes, most lenders allow you to rent out the property. The rental income can actually help with EMI payments. Check with your specific lender for any restrictions in the loan agreement.
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