Loan Against Property Calculator
Calculate EMI, eligibility, and total costs for your property-backed loan.
LAP EMI Calculator
Mortgage your property to get funds at lower interest rates than personal loans
Understanding Loan Against Property
What is Loan Against Property?
Loan Against Property (LAP) is a secured loan where you mortgage your residential or commercial property to get funds. Since it's secured, interest rates are lower than unsecured loans like personal loans.
Key Benefits of LAP
- Lower interest rates (8-14%) compared to personal loans (10-24%)
- Higher loan amounts based on property value
- Longer repayment tenure (up to 20 years)
- Flexible usage - business, education, medical, etc.
- Property remains in your possession during loan tenure
Eligibility Criteria
- Age: 21-65 years (must repay before 70)
- Income: Minimum income varies by lender
- Property: Clear title, no legal disputes
- Credit Score: Usually 650+ preferred
- Employment: Salaried or self-employed
Documents Required
- Identity & address proof (Aadhaar, PAN, Passport)
- Income proof (salary slips, ITR, bank statements)
- Property documents (title deed, approved plan, tax receipts)
- Photographs and KYC documents
- Business proof (for self-employed)