Loan Against Property Interest Rates
Before applying for LAP, a person should have the knowledge about the rate of interests, penalty or fee charged by your lending institution for default in monthly installments. You must know the processing charge, and in case the borrower decides to switch his/her loanfrom the existing lender to a new lender, the current lender will charge penalty or fee for pre-closure of loan.
Here is the list of Interest Rates from various Banks:
| Banks | up to 30 lacs | 30-75 lacs | 75 & above | Processing fees | Apply |
HDFC |
13% |
13.50% |
13.50% |
1% of the loan amount |
|
Ing vysya |
12.5% fixed for 3 years |
12.5% fixed for 3 years |
12.5% fixed for 3 years |
1% + service tax |
|
14% |
14% |
14% |
1% ( if loan forclose after 1 year then 0.25% rate will be applicable) |
||
Axis Bank |
13% |
13% |
13% |
1% of Disbursed amount |
|
PNB HFL |
13.25% (Fixed for 10 year) |
13.25% (Fixed for 10 year) |
13.25% (Fixed for 10 year) |
1% |
|
Federal Bank |
13.50%- 14.50% |
13.50%- 14.50% |
13.50%- 14.50% |
1% + service tax |
|
India Bulls |
13.50% - 15% |
13.50% - 15% |
13.50% - 15% |
1% + service tax |
|
DCB |
13% - 13.50% |
13% - 13.50% |
13% - 13.50% |
1.50% + service tax |
|
Standard Chartered |
12.25% |
12.25% |
12.25% |
0.50% |
|
Citibank |
12.75 - 13.25% |
12.75 - 13.25% |
12.75 - 13.25% |
0.50% |
|
IDBI Bank |
13% |
13% |
13% |
1% + service tax |
|
Deutsche Bank |
12% - 12.25% |
12% - 12.25% |
12% - 12.25% |
1% + service tax |
|
Cent Bank |
14.25% |
N.A |
N.A |
1% of the loan amount |
|
HSBC |
11.75% |
11.75% |
11.75% |
0.25% |
|
Sundaram BNP paribas |
14% - 15% |
14% - 15% |
14% - 15% |
1% + service tax |
|
Tata Capital |
13% |
13% |
13% |
1% of the loan amount |
|
DHFL |
13% |
13% |
13% |
0.50% - 1% of the loan amount |
|
LIC HFL |
13.25% |
13.25% |
13.25% |
1% of Loan Amount or Maximum Rs. 25000/- |
|
15.5% |
15.5% |
15.5% |
1% of the loan amount |
||
Reliance |
14% |
14% |
14% |
0.50% of the loan amount |
|
Edelweiss |
13.25% |
13.25% |
13.25% |
1% of the loan amount |