IDFC First
Loan Against Property

You can also calculate the Base Rate online.

IDFC First Bank offers customised loans against different types of properties. The lowest IDFC Mortgage Loan Interest Rate is 9.00% - 20.00% p.a. The effective rate of interest for your LAP application depends on your repayment capacity, credit score and property value & location.

• Repo Rate is 6.50% w.e.f. February 9, 2023.
• The above-mentioned interest rates may vary based on various parameters such as the Repo Rate, Bureau Score, Segments, etc.
• Repo Rate (RR) may change as per timely RBI Policy announcements.

• Avail customised IDFC First Bank mortgage loan up to 80% of property value.
• Salaried as well as professional Indian residents and non-resident Indians (NRIs) can apply.
• High-value loans available against residential, commercial or industrial units.
• IDFC loan against property amount ranges between Rs. 10 Lakhs to Rs. 10 Crores.
• 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.
• Maximum processing fee can go up 3% of the sanctioned loan amount. 

Non-IDFC First LAP customers can opt for low-cost IDFC Balance Transfer with a top-up facility.

To apply for 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.

You can also check Loan Against Property Eligibility from Top Banks Online.

IDFC Bank offers customised mortgage schemes against all types of properties, such as:

• Residential
• Commercial
• Industrial 
• Godowns

Customers can apply for IDFC First Bank’s Loan Against Property online or offline according to their preference. Online you need to provide minimal documentation, such as:

• Income documents
• Average bank balance
• GST returns
• Rental income

LAP Balance Transfer can be availed with Top Up, subject to meeting adequate collateral requirements.

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.

Below is an example using the IDFC First EMI calculator: 

You can also calculate your IDFC First loan against property EMI using the formula given below: 

EMI amount = [P x R x (1+R) ^N]/[(1+R) ^N-1], which uses three inputs i.e., Principal loan amount (P), tenure (N), and rate of interest (R).