Discover Your Property's Potential with a Loan Against Property.
Turn your residential or commercial property into a source of funding without selling it with a loan against property near me. Enjoy easier approval, competitive interest rates and higher borrowing limits.
At My Mudra, we partner with top financial institutions to bring you the best LAP loan offers tailored to your requirements. We simplify the borrowing process so you can access funds quickly and efficiently.
Last Updated: 23-09-2026
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What is a Loan Against Property?
A loan against property or LAP is a secured credit facility in which you mortgage your existing property to a lender in exchange for funds. This includes residential, commercial, or industrial properties. The lender will evaluate the current market value of your property. After that, your loan amount will be sanctioned based on a specific Loan-to-Value (LTV) ratio, typically up to 80%.
With My Mudra, you can get a LAP loan at competitive interest rates. This allows you to leverage the dormant equity in your real estate for various expenses. You can use the funds for major life events, consolidating previous debt or as working capital for your business. Since the loan is secured, lenders assume less risk, which results in better terms and higher loan amounts for you.
Key Benefits of a Loan Against Property
Lower Interest Rates
Since a loan against property is secured by real estate, lenders offer significantly lower interest rates compared to unsecured loans. Opting for a LAP loan instead of a personal loan can save you substantial money on interest payments over the loan tenure.
Substantial Loan Amounts
Lenders provide high loan amounts based on your property's current market value. You can secure funding from a few lakhs up to ₹10 crore. The amount sanctioned depends on the property type and your credit profile. This makes it ideal for major investments, such as expanding your business operations or funding overseas education.
Extended Repayment Tenure
A loan against property offers long repayment windows, often extending up to even 30 years. This ensures that your monthly EMIs are affordable and do not strain your regular cash flow, allowing comfortable financial planning.
Unrestricted Usage
The funds obtained through a LAP loan come with no end-use restrictions. You can use the money to cover emergency medical expenses, renovate your home, consolidate debts, or invest in a new commercial venture. In other words, you will have complete freedom to utilise the capital as required.
Easy Online Application
You can easily apply for a loan against property online through My Mudra's digital platform. Our streamlined process minimises physical paperwork and branch visits. This gives you a faster and more convenient borrowing experience from the comfort of your home or office.
How to Apply for a Loan Against Property Online
Applying for a loan against property online through My Mudra is designed to be a fast, transparent, and user-friendly experience.
Step 1
Visit the My Mudra website and click on ‘Apply Now’. Enter your mobile number and complete the CAPTCHA verification in order to proceed with your application.
Step 2
Choose the type of your employment. My Mudra caters to salaried as well as self-employed individuals.
Step 3
If you are a salaried employee, you will need to enter your monthly income and the details of your loan. If you are self-employed, you will also need to submit information about your business. Additionally, you will need to enter which city you are based out of for more personalised offers.
Step 4
Once you submit all the required details, you will receive an OTP to your registered mobile number. Finish your verification to proceed with your loan application.
Step 5
We will review your details and bring you the best lenders suited for your profile and income. Compare your options and click on the ‘Instant Apply’ button in order to finish your application.
Loan Against Property Rates in India
Let us take a look at the interest rates available if you want a loan against property online:
| Lender | Interest Rates (p.a.) | Processing Fees |
|---|---|---|
State Bank of India | 1.45% - 3% + 1 year MLCR | 1% + GST |
Axis Bank | 9.25% onwards | ₹5,000 + GST |
HDFC Bank | 8.55% onwards | Up to 1% |
ICICI Bank | 10.60% - 12.25% | Up to 2% |
Bajaj Housing Finance | 8.99% – 18.00% | Up to 4% |
Kotak Mahindra Bank | 9.50% onwards | Up to 1% |
Bank of Baroda | 10.35% – 18.25% | Up to 1% |
IDFC FIRST Bank | 9.25% onwards | Up to 3% |
Bank of Maharashtra | 9.95% – 10.95% | 1% |
Union Bank of India | 10.20% – 12.85% | Up to 1% |
LIC Housing Finance | 9.70% – 12.85% | 1% |
Tata Capital | 9.00% onwards | Up to 1.25% |
Godrej Housing Finance | 9.75% onwards | Up to 3% |
Disclaimer: Interest rates and fees are subject to change based on the lender's policies, your credit profile, and property valuation.
Loan Against Property EMI Calculator
Planning your repayment options is crucial before taking a secured debt. A LAP EMI calculator is an essential online tool that helps you estimate your monthly financial obligations accurately.
Using a loan against property calculator allows you to experiment with different loan amounts and tenures. You can easily find a repayment structure that fits comfortably within your monthly budget. It provides a clear breakdown of the principal and interest components, helping you make informed decisions.
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Top Loan Against Property Lenders
It is always important to compare loan against property interest rate across different lenders. This ensures that you find the most cost-effective financing for your circumstances. We partner with India's leading banks and NBFCs to offer you competitive options.
HDFC Loan Against Property
HDFC Bank provides customised LAP loan solutions with attractive interest rates and high LTV ratios. Their streamlined documentation process and quick disbursal make them an excellent option if you have urgent funding needs. Moreover, the interest rates start from 8.55% p.a, which makes this an affordable choice.
ICICI Loan Against Property
ICICI Bank offers versatile business loan against property options with competitive rates starting at 10.60% p.a. This bank also offers extended repayment tenures up to 20 years. They cater to both salaried individuals and self-employed professionals with specialised eligibility criteria.
Axis Bank Loan Against Property
Axis Bank provides loans against property with flexible EMI options and high loan amounts. They offer specialised programs for business owners looking to leverage their commercial properties for working capital. The interest rates can start as low as 9.25% p.a.
Bajaj Finance Loan Against Property
As a leading NBFC, Bajaj Finance offers LAP loans starting at 8.99% p.a. This is a preferred choice for many people due to the quick approval processes and minimal documentation. They are known for providing higher loan amounts and accommodating diverse borrower profiles.
Tax Benefits on Loan Against Property
Many borrowers wonder if they can claim tax deductions on this type of loan. While a LAP loan does not offer the same straightforward tax benefits as a standard home loan, you may be eligible for tax deductions under certain conditions.
- If you use the loan amount specifically for business purposes, the interest paid may be claimed as a deductible business expense under Section 37(1) of the Income Tax Act. This can help reduce your overall taxable business income.
- If the funds are used for the construction, repair, or renovation of a residential property, you might be able to claim deductions on the interest under Section 24(b) of the Income Tax Act.
Loan Against Property Without Income Proof — Is It Possible?
Several borrowers want to get a loan against property without proof of income. Traditional lenders generally require income documents. However, securing a loan without standard income proof is possible through alternative methods. Many banks and NBFCs offer customised programs for people with non-traditional income sources. Instead of standard tax returns, your repayment capacity will be assessed using:
- Banking transaction history
- Business turnover
- GST returns
- Consistent rental income
- While obtaining a LAP without income proof is possible, it requires a higher credit score. Additionally, the lender may offer a lower LTV ratio or charge a slightly higher interest rate to offset the perceived risk.
Why Choose My Mudra for Loan Against Property
At My Mudra, we simplify the complex process of securing a loan against land. We understand that your time is valuable, and finding the right lender can be overwhelming.
- Extensive Lender Network: We partner with over 70 top banks and NBFCs, ensuring that you have access to the most competitive rates in the market.
- Tailored Solutions: Whether you need a loan against commercial property, land, or other options, our experts match you with the right financial product.
- Transparent Process: We maintain complete transparency regarding rates, processing fees, and loan terms. There are no hidden charges or last-minute surprises.
- End-to-End Assistance: From your initial online application to the final disbursal of funds, our dedicated team provides continuous support. Our experts handle all negotiations and paperwork on your behalf.
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