Looking for a smart way to unlock the true potential of your property? An IDFC Loan Against Property (LAP) could be the perfect financial solution for your needs. With competitive interest rates, flexible repayment tenure, and high-value funding, IDFC FIRST Bank makes it easier for both salaried and self-employed individuals to raise capital without selling their assets. Whether you need funds for business expansion, personal requirements, or debt consolidation, LAP from IDFC ensures quick approvals and transparent terms. At CreditCares, we specialize in helping you secure the best loan against property from IDFC FIRST Bank as well as other leading banks and NBFCs. With our direct partnerships, expert guidance, and hassle-free support, you gain access to tailor-made financing solutions that perfectly match your financial goals.
IDFC FIRST Loan Against Property Highlights
| Feature | Details |
|---|---|
| Interest Rate | 9.50% p.a. onwards |
| Loan Amount | Up to ₹15 Crore |
| Loan-to-Value (LTV) Ratio | Up to 80% of property value |
| Tenure | Up to 25 years |
| Processing Fee | Up to 3% of the loan amount |
| Total Payment (Principal + Interest) | Depends on loan amount, tenure, and interest rate (calculated using IDFC Loan Against Property EMI Calculator |
IDFC Loan Against Property Interest Rates
IDFC FIRST Bank offers competitive loan against property interest rates starting from 9.50% p.a. onwards, depending on your credit profile and property details. This rate is sourced directly from the bank’s official LAP interest rate update.
To easily estimate potential EMIs and total repayment based on IDFC’s current rates, use the IDFC Loan Against Property EMI Calculator—available on CreditCares.
Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) | Action |
|---|---|---|
| IDFC FIRST Bank | 9.00% – 16.50% | Apply Now |
| State Bank of India (SBI) | 9.20% – 10.50% | Apply Now |
| Bank of Baroda | 10.85% – 18.35% | Apply Now |
| PNB Housing Finance | 9.25% – 15.00% | Apply Now |
| HDFC Bank Limited | 9.50% – 11.00% | Apply Now |
| L&T Housing Finance | 9.50% onwards | Apply Now |
| LIC Housing Finance | 9.50% – 11.55% | Apply Now |
| Godrej Housing Finance | 9.75% onwards | Apply Now |
| ICICI Bank | 10.85% – 12.50% | Apply Now |
| Tata Capital | 9.00% onwards | Apply Now |
| Axis Bank | 10.50% – 10.95% | Apply Now |
| Punjab National Bank | 10.15% – 14.00% | Apply Now |
Apply for Loan Against Property at Attractive Interest Rates With Creditcares .
Fees & Charges for IDFC Loan Against Property
Here’s a clear breakdown of the charges you’ll encounter when applying for an IDFC Loan Against Property:
| Charge Type | Details |
|---|---|
| Processing Fee | Up to 3% of the sanctioned loan amount |
| Penal Charges | 2% of unpaid EMI or ₹300 (whichever is higher) |
| EMI Bounce Charge | ₹500 |
| Document Verification Fee | ₹1,000 |
| Duplicate NOC / No-Due Certificate | ₹500 |
| Prepayment Charges | Nil |
| Foreclosure Charges | Nil if up to 12 EMIs paid; thereafter 5% on Fixed Rate; Nil on Floating for personal loans; for business—4% (after 24 EMIs) or 5% |
| Loan Rescheduling Fee | ₹1,000 |
| Loan Rebooking/Cancellation Fee | ₹10,000 |
| Document Retrieval Charge | ₹500 |
| Switch from Floating to Fixed Rate | Lower of 0.1% of sanctioned amount or ₹10,000 (for personal loans) |
What this means for you:
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Transparent pricing: IDFC lists all applicable fees upfront, with no hidden surprises.
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Cost-saving benefits: Prepayment and foreclosure are waived initially—great for borrowers who plan to repay early.
For personalized cost calculations based on your loan amount and tenure, use the IDFC Loan Against Property EMI Calculator on CreditCares.
Foreclosure Charges for IDFC Loan Against Property
| Loan Type | Foreclosure Charges |
|---|---|
| Floating Rate Loan (Individuals) | Nil – No foreclosure charges applicable |
| Fixed Rate Loan (Individuals) | 5% of principal outstanding (after 12 EMIs) |
| Business Loans (LAP for Self-employed/SMEs) | 4% of outstanding principal (after 24 EMIs) or 5% if foreclosed before 24 EMIs |
| Hybrid Loans (Fixed + Floating) | As per respective slab applied at sanction |
IDFC Loan Against Property Eligibility criteria
IDFC FIRST Bank assesses the eligibility of Loan Against Property (LAP) applicants primarily on their employment profile. Additionally, factors such as credit score, monthly income, occupation type, employer profile, and EMI-to-income ratio are also considered—similar to the evaluation standards followed by most lenders.
1. Self-employed Professionals
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Age: 21 to 60 years (or retirement age, whichever is earlier)
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Work Experience: Minimum 3 years
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Income Requirement:
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For loans up to ₹50 lakhs – Minimum ₹2.4 lakhs per annum
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For loans above ₹50 lakhs – Minimum ₹10 lakhs per annum
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2. Self-employed Non-Professionals
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Age: 23 to 70 years
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Business Vintage: At least 2 years
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Income Requirement:
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For loans up to ₹50 lakhs – Minimum ₹0.75 lakhs per annum
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For loans above ₹50 lakhs – Minimum ₹6 lakhs per annum
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3. Eligible Business Entities
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Proprietorship Concerns
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Partnership Firms
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Private Limited Companies
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Societies and Trusts
Tip: Maintaining a strong credit score (700+) and steady income improves your chances of securing the best IDFC Loan Against Property interest rates.
Checklist of Documents Needed for Loan Against Property – IDFC FIRST Bank
IDFC loan against property documents required different sets of documents for salaried and self-employed applicants. The list varies based on income profile and loan program type.
For Salaried Applicants
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Photo ID & Address Proof – Aadhaar, PAN, Passport, Voter ID, Driving License
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Income Proof – ITR/Form 16 (last 2 years), last 6 months’ salary account statement, last 3 months’ salary slips
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Loan Details – Existing loan statements (if any)
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Property Documents – Title deed, approved plan, and related papers
For Self-employed Applicants
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Photo ID & Address Proof – Aadhaar, PAN, Passport, etc.
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Business Proofs – Any of the following:
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Memorandum of Association (MOA) & Articles of Association (AOA)
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GST Registration
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Shop Act License
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ITR (last 1–3 years)
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Partnership Deed (if applicable)
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Property Documents – Ownership & title deed, approvals, tax receipts
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Additional Documents (depending on program type):
Basis GST
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ITR for last 1 year or financials for last 1 year
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Net worth statement by CA
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Bank statements for last 3 months
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GST returns for last 1 year
Basis Income
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Latest ITR with financials
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Bank account statements for the last 6 months are required (for loans up to ₹2 crore); for higher loan amounts, 12 months’ statements are needed.
FAQs on IDFC FIRST Bank Loan Against Property
Q1. Can I apply for a IDFC mortgage loan, and who can be co-applicants?
Yes, you can. IDFC FIRST Bank permits joint applications along with your spouse, children, or parents. If the property has multiple owners, all co-owners must also be listed as co-applicants.
Q2. When and how will I receive my Income Tax certificate?
You will receive the Income Tax certificate in the welcome kit provided by the bank. Additionally, you can request a provisional certificate at any time during the financial year.
Q3. What kind of properties qualify for a Loan Against Property from IDFC FIRST Bank?
Residential, commercial, and industrial properties can be mortgaged to avail a Loan Against Property from IDFC FIRST Bank.
Q4. Is property insurance mandatory for availing LAP from IDFC FIRST Bank?
Yes, it is. The mortgaged property must remain insured throughout the loan tenure to safeguard it against natural calamities and other unforeseen risks.
Conclusion
An IDFC FIRST Loan Against Property offers the perfect blend of high loan amounts, competitive interest rates, and flexible repayment options, making it a smart financing choice for both salaried and self-employed individuals. With tenures extending up to 25 years and an LTV ratio of up to 80%, it provides the liquidity you need without compromising ownership of your property.
At CreditCares, we go beyond just connecting you to IDFC FIRST Bank—we simplify the entire process with expert guidance, faster approvals, and end-to-end support. Whether you’re seeking funds for business growth, education, or personal needs, our strong partnerships with banks and NBFCs ensure that you get the best deal on your Loan Against Property.
Ready to unlock your property’s value? Apply with CreditCares today and secure your IDFC FIRST Loan Against Property seamlessly.
Apply Now for IDFC FIRST Loan Against Property with CreditCares
