Loan Against Property Residential - Normal Salaried

When a property is kept as security and funds are borrowed using that, then it is known as Loan Against Property (LAP)

Loan Against Property (LAP) Features

  • Loan against fully constructed residential / commercial properties for personal / business use.
  • Longer Tenor for lower EMIs
  • Integrated network and centralized processing for taking easy home loans from anywhere
  • Easy and Hassle free documentation and application processing
  • Loans available for all profile of customers

LAP can be availed for

  • Purchase/Acquisition/Renovation of property
  • Loan consolidation
  • Personal Needs / Travel/ Business / Marriage etc
  • Higher Education
  • Balance Transfer of existing HL / LAP
  • Business or Working Capital Requirement.

Loan Details & Eligibility

15 Years
Loan Tenures (MAX)

Age Limit (At the time of loan maturity)

  • Salaried Individuals - 60 Years of age or retirement, whichever is earlier.

Minimum Age Criteria

  • Income applicant should be min 21 years old
  • Non income applicant should be min 18 years old

Max Loan Amount

Metro & Non Metro 1Cr

Max Loan Tenor

  • Up to 15 years

Max Loan Eligibility

Maximum Funding
LAP Residential - 70% of property value
LAP Commercial - 65% of property value
LAP resi plot - 50% of property value
LAP mixed use - 50% of property value
LAP Industrial - 50% of property value

Document Checklist

Proof of both identity, age, and residence (any combination that fulfills both.)
S.No Documents ID Proof Address Proof Relationship Proof Age Proof
1. Aadhar Card/E Aadhar issued by UIDAI
2. Valid Passport
3. Pan Card
4. Driving License issued by the RTO
5. Voter ID Card issued by EC
6. Job card issued by NREGA duly signed by an officer by the state Govt
Income (Only for salaried applicant)
  • Last 3 months salary slip
  • Last 2 years Form 16
  • Bank statements for last 6 months reflecting salary credits
  • Appointment letter with salary breakup if current employment is less than 1 year old
Details of current loans
  • Bank statement reflecting last 6 months EMI payment/ SOA of running loans
Property related documents (If Property has been identified)
  • Copy of the Allotment Letter / Buyer Agreement/Sale Deed
  • Receipts of payments made to the Builder/ Developer/Seller
Note: All documents to be self attested. The above list is indicative in nature and additional documents can be asked for.

Fees & Charges

Loan Application charges
  • Initial Money Deposit of Rs 2500 - Loan Amount < 30 L
  • Initial Money Deposit of Rs. 5000 - Loan Amount >= 30 L
Loan Disbursement charges
  • Processing Fees on loan disbursal - 1% + GST (Initial Money Deposit is adjusted in this 1%)
Prepayment and Foreclosure charges

Rate of Interest : Floating

  • A) Individual Borrower(s) : Nil
  • B) Non Individual Borrower : 2% + Applicable Tax.
  • Prepayment/ part-prepayment shall be prefferred after 6 months from the date of first disbursement.


Got Questions?

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LAP means Loan Against Property which is a secured loan availed against a commercial or residential property kept as collateral with the lender.

Loan Against Property can be availed on any full constructed residential or commercial property.

Following are the eligibility criteria:

  • Salaried age limit: 21-60 years (65 if considering pension income)
  • Self-employed non-professionals (SENP) age limit: 21-70 years if second generation is in the same business, else 65 years 
  • Minimum Salary: 20000 per month for both Salaried and SENP.

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Terms & Conditions

Submission of all relevant documents as mentioned by HHFL in the sanction letter/ Loan Agreement; Clear, marketable title of the property in favour of the Borrower; All the security documents prescribed have been executed by borrower/co-applicant (s)/ guarantor/s A valid mortgage (equitable or registered if equitable mortgage is not possible) has been created in favour of the HHFL as per the laws of the State.

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