Apply for IDFC First Bank Loan Against Property @ 9.00% Interest Rates
IDFC First Loan Against Property Details 2025
Below are the key details of the HSBC personal loan:
| Loan Amount | Rs.10 Lakhs – Rs.10 Crore |
| Interest Rate | 9.00% – 20.00% p.a |
| Tenure | Up to 25 years |
| Processing Fee | Up to 3% of the loan amount |
| Late Payment Penalty | 2% p.m. of the unpaid EMI or Rs 300 (whichever is higher) |
IDFC First Loan Against Property Interest Rates
Below is the table for the current HDFC LAP interest rate:
The HDFC Bank loan against property interest rate may vary from borrower to borrower, depending on their eligibility.
HDFC LAP Interest Rate for Salaried & Self-Employed Individuals
Recently, HDFC has shifted its benchmark rates for Loan Against Property(LAP), Loan Against Commercial Property(LCP), and Loan Against Rent Receivables( LARR) to Policy Repo Rate and they charge a spread of 3% to 4.5% over their Policy Repo rat,e which is 6.50% right now. This makes the cumulative lending rate in the range of 9.50% – 11.00%.
| Property Type | Interest Rate |
|---|---|
| Loan Against Property (LAP) | 9.50% to 11% p.a. |
| Loan for Commercial Property (LCP) | 9.50% to 11% p.a. |
| Loan Against Rent Receivables (LARR) | 9.50% to 11% p.a. |
Compare IDFC LAP Interest Rates with Leading Banks
Below is the comparison of IDFC mortgage loan interest rates with loans against property interest rates of other banks and NBFCs in India.
You can compare the different interest rates offered by top lenders and the most suitable option:
| Name of the Lender | Interest Rate (% p.a.) |
|---|---|
| IDFC First Bank | 9.00% – 20.00% |
| Muthoot Finance | 14.50% – 16.50% |
| State Bank of India | 10.10% – 11.65% |
| LIC Housing Finance | 9.70% – 11.55% |
| Federal Bank | 11.15% – 14.80% |
| Home First | 12.80% – 18.50% |
| HDFC Bank | 9.50% – 11.00% |
| Kotak Mahindra Bank | 9.50% – 10.50% |
| PNB Housing Finance | 9.24% – 12.45% |
| Bank of Baroda | 10.85% – 16.50% |
| ICICI Bank | 10.85% – 12.50% |
| Tata Capital | 10.10% |
| Bajaj Housing Finance | 9% – 14% |
Fees & Charges of IDFC First Loan Against Property
Apart from the IDFC loan against property interest rate, the borrower has to pay the following charges (as applicable) on the IDFC First loan against property:
| Type of Charge | Description |
|---|---|
| Processing fees | Up to 3 % of the loan amount |
| Part prepayment charges |
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| Foreclosure charges |
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| Cancellation & rebooking |
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| Switch fees |
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| Repayment instrument swap | Rs. 500/ repayment change request |
| List of documents | Rs. 1,000 per request for copies/ list of documents |
| Duplicate NOC/NOD | Rs. 500 |
| Loan rescheduling charges | Rs. 1,000 |
| Physical repayment schedule | Rs. 500 |
| Physical statement of account | Rs. 500 |
| Cheque swap charges | Rs. 500 |
| Initial money deposit/ application fees | Rs. 6,500 |
| Document retrieval | Rs. 500 |
| Other Statutory/ Mortgage creation charges | As per actuals |
| Late Payment/ penal charges/ default | 2% p.m. or Rs. 300 (whichever is higher) |
| Repricing fee | 1/2 of rate drop given to the customer as a % or Rs. 10,000, whichever is higher |
| EMI pickup/ collection | Rs. 350 |
| EMI bounce charges | Rs. 400 |
| Other statutory/ Mortgage creation charges | On actuals |
| GST | GST, as applicable, will be levied on all service charges. |
Features & Benefits of IDFC First Loan Against Property
- Avail a customised IDFC First Bank mortgage loan up to 80% of the property value.
- Salaried as well as professional Indian residents and non-resident Indians (NRIs) can apply.
- High-value loans are available against residential, commercial, or industrial units.
- IDFC loan against property amount ranges between Rs. 10 Lakhs to Rs. 10 Crores.
- The maximum tenure for IDFC First LAP can go up to 25 years.
- IDFC First loan against property interest rates start at 9.00% – 20.00% p.a.
- Currently lowest IDFC First loan against property EMI is Rs. 839 per lakh.
- The maximum processing fee can go up 3% of the sanctioned loan amount.
IDFC First Loan Against Property Eligibility Criteria
To apply for the IDFC First Loan Against Property, meet the following criteria:
- You must have a stable income source. All profiles, including salaried individuals, self-employed professionals & non-professionals can apply.
- A minimum CIBIL score of 740 is required to apply for a loan against property.
- Salaried borrowers should be aged between 23 to 60 years.
- Self-employed borrowers should be aged between 23 to 70 years.
- Borrowers belonging to the agri-allied sector should be aged between 23 to 70 years with a minimum of 2/3 years of work continuity.
- The minimum business continuity required for the self-employed is 2/3 years.
- Salaried borrowers should have a minimum work experience of 2/3 years.
- Equitable loan value collateral is required which can be in the form of residential, commercial, industry plot or godown.
IDFC Loan Against Property EMI Calculator
You can use the IDFC loan against property calculator to know your Equated Monthly Instalment (EMI) before applying for the loan. To use the calculator, follow the steps given below:
- Open the Loan Against Property EMI Calculator page available on the financial tool page on the official website of the bank.
- Select the required loan amount, tenure (in months), and the applicable IDFC First bank loan against property interest rate by dragging the cursor on the required value.
- As soon as you mention the above information, the tool will display the monthly EMI amount you have to pay on your loan.
- The loan amount to be availed of is Rs. 2 Crores
- The loan tenure opted for is 300 months
- Applicable interest rate 9.00% – 20.00% p.a.
- EMI to be paid Rs. 1,67,839
Documents Required for IDFC First Loan Against Property
| Type of Document | Salaried | Self-employed |
|---|---|---|
| Address Proof (any one) | Aadhar Card, Driving License, PAN Card, Voter’s ID Card, Passport, NREGA Card, Bank Account Statement, Electricity Bill, Telephone Bill | |
| Photo ID Proof (any one) | Aadhar Card, Driving License, PAN Card, Voter’s ID Card, Passport, NREGA Card | |
| Income Proof |
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| Property Documents |
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| Others | Details of ongoing loans, including sanction letter, amortization schedule or account statement, as applicable | |