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ICICI Bank Loan Against Property
Any person or organization who owns a property in their name can apply for a secured loan known as a loan against property or LAP with ICICI Bank.
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ICICI Bank Loan Against Property
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ICICI Bank Loan Against PropertyHere are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 700+ |
| Applicant | Any Salaried & Self Employed |
| Applicant Age | (i)
Salaried: 21 year to 65 Year (ii) Self Employed: 21 Year to 70 Year |
| Loan Amount & Tenure | 50
Lac- No Limit ( 5 Year to 15 Year) |
| Login Fees | 5900 |
| Rate of Interest & Type | 9.25%-11%
(Reducing) |
| TAT | 5 days |
| Processing Fees | 0.50% |
| Foreclosure Charges | (i)
If MSME Registration-Nil (ii) Other-Upto 4% |
| Insurance | As per Age |
| Minimum Business Vintage | 3 Year |
| Lock In Period | 0-6 month |
| Part Payment Allowed | No |
| LTV | (i)
Residential-70% (ii) Commercial-65% (iii) Industrial-55% (iv) Plot-50% (v)
Hospital/School/Hotel-40% (vi) if residential property is rented/vacant then LTV will be 5% lower (vii) If Commercial Property Puchase/vacant/rented then LTV will be 5% lower |
| Product | (i) Fresh Loan (ii) BT+Topup (iii) Commercial & Industrial Purchase (iv) Seller BT (v) DOD Product |
| Program | (i)
Banking Program-5 Cr (ii) GST Product-5 Cr (iii) Income Program-No Limit (iv) Lease Rental Discounting-No Limit |
| FOIR | (i)
Salaried:<50k-60%,50K-1 Lac-65%, >1 lac-70% (ii) Self Employed-200% of Cash Profit if Loan required< 4Cr else 85% of Gross Profit |
| Cautious Profile | (i) Jewellers |
| Negative Profile | (i)
Politian (ii) Share Traders (iii) NBFC (iv) Police below Inspector (v) Liquor
Seller (vi)DSA (vii) Applicant living in dominated area |
| Funded Property | (i)
Residential Property (ii) Commercial Property (iii) Industrial Property
(iv) Mall & Commercial Complex Property (v) Plot (vi) Primary School & School (vii)Hospital & Nursing Home viii) Hotel & Restaurent |
| Negative Property | (i)
Lease hold Property without PTM (ii)Stand Alone Basement (iii) Auction
Property (iv) Demolition List Property (v) Lal Dora Property (vi) PG Property (vii) Khasra & Khatauni Property (viii) Subject to Sale Deed Property (ix) GPA Property (x) Gift Deed Property (xi) Single Sale Deed Property (xii) Banquet Hall (xiii)Without MAP Property (xiv) Unapproved Freehold Property (xv) Legal & technical not clear(xvi) Stone Slab Property (xii) Unapproved Farm House (xiii) Multi Tanented Unit |
| Accepted Collateral | Other than Negative Property-Only Approved Property |
| Specific Property wise Funding Limit | (i)
Primary School-40% (ii) School-40% (iii) Hotel & Restaurent-40% (iv)
Hospital-40% (v) Nursing Home-40% (vi) Approved Farm House-40% |
| Any Specific Product for Professionals | No |
| USP | (i) Low Rate & No Loan Limit (ii) Upto 5 Cr No Financial Required |
ICICI Bank Loan Against Property EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 9 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,745 |
| Total Interest | ₹ 4,942 |
| Loan Amount + Interest | ₹ 104,942 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 24,165 | ₹ 2,070 | ₹ 26,235 | ₹ 75,835 | 24.16 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 75,832 | ₹ 2,873 | ₹ 78,705 | ₹ 3 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for ICICI Loan Against Property
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
Note : ICICI Bank’s Loan Against Property may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.
About ICICI Bank Loan Against Property
It doesn't matter how well you manage your money and save; a few unforeseen occurrences always happen in life and are occasionally unavoidable. It may be a requirement for corporate growth, an urgent medical issue, a marriage ceremony, etc.
You could wish to use your funds at this stage to cover the necessary expenses. People frequently realize that their savings are insufficient and that they need additional cash to cover anticipated costs. Furthermore, it is not a good idea to spend all of your funds at once since you can run into difficulty later. You'll have to start over with your financial situation after using up all of your funds at once.
The best option in such circumstances may be to take out a loan from a banking institution or financial organization to cover your immediate needs. When someone needs money for either personal or professional needs, ICICI Bank provides a loan against property. To get an ICICI loan, both business and personal property may be mortgaged. The minimum interest rates for ICICI Loan Against Property are 8.35% per year.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
Salaried Borrower:
| Slab | Priority Sector Lending | Non-priority Sector Lending |
| Loan Against Property (LAP) | RR +4.85% (9.75%) – RR+5.50% (10.40%) | RR +4.85% (9.75%) – RR+5.50% (10.40%) |
| Non Residential Premises (NRP) | RR +4.85% (9.75%) – RR+5.50% (10.40%) | RR +4.85% (9.75%) – RR+5.50% (10.40%) |
| Lease Rental Discounting (LRD) | RR +4.85% (9.75%) – RR+5.50% (10.40%) | RR +4.85% (9.75%) – RR+5.50% (10.40%) |
Self - Employed Borrower:
| Slab | Priority Sector Lending | Non-priority Sector Lending |
| Loan Against Property (LAP) | RR +4.85% (9.75%) – RR+5.50% (10.40%) | RR +5.35% (9.75%) – RR+6.00% (10.90%) |
| Non Residential Premises (NRP) | RR +4.85% (9.75%) – RR+5.50% (10.40%) | RR +5.35% (9.75%) – RR+6.00% (10.90%) |
| Lease Rental Discounting (LRD) | RR +4.85% (9.75%) – RR+5.50% (10.40%) | RR +5.35% (9.75%) – RR+6.00% (10.90%) |
FREQUENTLY ASKED QUESTIONS
Following an assessment by the ICICI Bank, the loan amount is finally determined by the borrower's financial situation and the property's total value. You are eligible to acquire a maximum loan amount of up to Rs 5 crore if you are a salaried, self-employed, or business professional.
Any person can choose the simple funding option of an ICICI Bank Loan Against Property for a maximum tenure of up to 15 years.
As the name implies, you must mortgage your property to guarantee access to quick finance. Your assets will serve as collateral for the loan amount you are requesting from the ICICI Bank. It can be a well-built property with a clear title and no legal issues, and it can be either a residential, commercial, or special use space.
The Interest for ICICI Bank Loan Against Property is around 9.75% which can vary and will be decided at the time of documentation.
ICICI offers LAP of a maximum value of 5 crores which can be taken for a maximum tenure of 15 years.
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