Check Latest Interest Rates for Loan Against Property of All Banks

Sometimes you get stuck into tricky financial problems that can only be solved by large amounts of funds. In these desperate times, your only option is to get a loan sufficient enough to fulfil your temporary financial needs. But what to do if your creditworthiness is not enough to get you the loan of the desired amount? In this condition, only a LAP or Loan Against Property is the ultimate answer.

Latest Interest Rates for Loan Against Property of All Banks

What is LAP or Loan Against Property?

LAP or Loan against property is financial assistance offered by the banks or NBFCs to the applicant against his property or any other asset as collateral. These assets can be owned land, houses, commercial sites, etc. Furthermore, these assets are kept as collateral for the whole loan period until the complete loaned amount and interest accrued are paid.

Why You Should Require a Loan Against Property?

Usually, a person applies for a loan against a property when he or she is in desperate need of funds. And the situations that can force a person towards this desperation are a child’s wedding, a child’s education, the idea of expanding business, etc. But you should remember that the banks will also check your complete financial status apart from the value of your property like other loans, income, savings, etc.

Also read:

Major FAQs Related CIBIL or Credit Score to Clear All Your Doubts

List of Interest Rates Offered by All the Banks for Loan Against Property:

Name of the LenderInterest Rate (% p.a.)
State Bank of India10.90-11.30
Bank of Baroda10.85-16.50
PNB Housing Finance8.99-13.00
IDFC First Bank8.75-16.25
L&T Housing Finance9.60 onwards
LIC Housing Finance9.70-12.85
ICICI Bank10.85-12.50
Tata Capital9.85 onwards
Bajaj Housing Finance8.50-18.00
Axis Bank9.90-10.35
Kotak Mahindra Bank9.15 onwards

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Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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