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Loan Against Property

We provide the highest loan value of your property - up to 80%. With extended loan tenure up to 25 years, you end up paying lower EMIs. Any financial issues relating to business expansion, children's further education, weddings, or medical bills can be readily addressed with IDFC First Bank Loan Against Property. We offer funding for all types of properties such as residential, commercial, industrial, plots, schools, hospitals, restaurants, godowns, etc. If you have already availed a Loan Against Property with another financier, you can transfer it with ease & enjoy amazing benefits like the top-up facility.Read More

Make the right decision for your funds requirement with IDFC First Bank Loan Against PropertyRead Less

Key Features

CALCULATOR

Loan Against Property EMI Calculator

Amount

1L 50L

Period

1 Year 30 Year

Interest Rate

8 % 15 %

You will pay an EMI of only monthly

  • Loan Against Property Calculator
    Manisha Chowdhury

    "I would definitely like to make a special mention of my experience of Loan Against Property (LAP) that I have availed recently for my business. I was really struggling to communicate with some other banks which are faceless and operating only through call centers. I approached IDFC FIRST Bank with two major requirements - Lower Rate Of Interest and a longer Loan Tenure than what is being offered by terms of my ongoing LAP.To my amazement, both the requirements were perfectly addressed and to the extent I needed."

  • Car Loan Interest Rates
    Arun Popli

    "The time taken for sanctioning our LAP, from the date papers were submitted was less than other banks normally take. There was constant follow-up done with our accounts department. It seems like banking is changing with the time, and IDFC FIRST Bank is the first to come forward. Special thanks to branch executives for coordinating and going an extra mile for making things happen in shortest time possible."

Dropline Overdraft

Are you facing unexpected expenses and need quick access to funds? Look no further!

A Dropline Overdraft Loan is a versatile financial product that allows you to access a pre-approved line of credit whenever you need it. This facility allows you to utilize amount up to an agreed limit. The withdrawal limit reduces every month till the end of the loan tenure. The interest is levied only on the utilized amount and not on the total amount borrowed. The amount can be deposited to the account anytime to reduce the outstanding balance.    

Avail your Loan Against Property as a Dropline Overdraft Facility and enjoy amazing benefits like interest only on the amount utilized, instant access to funds, extended loan tenure of up to 300 months, and much more.                      

Key Features:

1.       24/7 instant access to funds

2.       Continuous access to a predetermined line of credit

3.       Flexibility to repay the borrowed amount

4.       Interest payment only on the amount utilized

5.       Financial security against unexpected financial emergencies

Savings Account

ELIGIBILITY

Who can apply?

  • Self-employed Professionals
  • Self-employed non-professionals
  • Proprietorship concerns
  • Partnership firms
  • Private Ltd. Companies
  • Societies and Trusts

Documentation

For Salaried

  • Photo Identity Proof, Address Proof: As per RBI defined KYC guidelines
  • Income Proof: Latest 2 years’ ITR/Form 16, Last 6 months’ bank statement reflecting salary credit, latest 3 months’ salary slips
  • Details of Running Loans: Sanction letter, amort schedule/account statement
  • Property Document: Complete chain of property title deeds, approved layout/plan

For Self-Employed

  • Photo Identity and Address Proof: As per RBI defined KYC guidelines
  • Business Proof: Shop Act License/MOA & AOA/GST registration/ITR, Partnership Deed.
  • Details of Running Loans if any: Sanction letter, amort schedule/account statement
  • Property Document: Complete chain of property title deeds, approved layout/plan

Any one of the additional documents set basis selected program

  • Basis banking
    Latest year ITR along with latest year’s financials, Latest 6 months Bank statements for loans up to 2 Crs, otherwise 12 months
  • Basis GST
    Last 1 yr ITR, 1 yr financials/ CA net worth statement, Latest 3 months’ bank statements, GST returns for the last 12 months’
  • Basis Income
    Latest year ITR along with latest year’s financials, Latest 6 months Bank statements for loans up to 2 Crs, otherwise 12 months

eligibility img alt

FEES & CHARGES

Find out about our minimal and transparent fees & charges

View Fees & Charges

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FREQUENTLY ASKED QUESTIONS

What is a Loan Against Property?

Loan Against Property is a mortgage loan offered to individuals, firms & companies against their existing property.

You can access the untapped potential of your real estate holdings with Loan Against Property. You can borrow money using your property as collateral, while paying it back over time via EMIs.

This way, you can continue to own your property and raise funds against it.

What can a Loan Against Property be used for?

You can use a Loan Against Property to raise funds for working capital, business expansion, debt consolidation, purchase of machinery, funding other business requirements, etc.

What kind of properties are eligible as collateral for Loan Against Property?

The below properties are eligible as collaterals for IDFC FIRST Bank Loan Against Property

• Residential

• Commercial

• Industrial

• Plots

 

What is the range of loan amounts, minimum and maximum, that I can apply for?

The minimum loan amount one can avail of is ₹10 Lakhs and up to a maximum of ₹10 Crores.

What is the minimum and maximum property loan tenure?

Being one of the leading banks in the Loan Against Property segment, we are currently offering our customers a loan tenure from a minimum of 12 months up to a maximum of 300 months.

What are the benefits of availing a Loan Against Property from IDFC FIRST Bank?

We have one of the best Loan Against Property solutions. Some of our major features are:

• Loan amount of up to ₹10 Crores for an extended tenure of 25 years

• Unique balance transfer and additional top-up facilities

• Higher mortgage loan facility basis audited financials

• Quick loan based on bank statements or basis GST returns

• Loan available for salaried individuals too

• Loan available based on your Rental income

• Loan also available for purchase of a commercial property

• Funding solutions for educational institutes, hospitals, and restaurants

• Superior customer experience with easy documentation and a hassle-free digitized processes

What are the different types of loans offered under Loan Against Property?

Loan Against Property can be availed in the form of a term loan or a dropline overdraft facility.

How does a term loan facility work?

Term loan is a type of credit facility that provides borrowers with a lump sum of cash upfront in exchange for specific borrowing terms.

Borrowers agree to pay their lenders a fixed amount over a certain repayment schedule with either a fixed or floating interest rate.

What is a Dropline Overdraft facility and how does it work?

Dropline Overdraft is another type of credit facility that allows you to withdraw funds from pre-approved credit limit as and when required.

With the dropline feature, the Overdraft limit gradually decreases over time until it reaches zero. You will be charged interest only on the overdraft amount utilized.

What are the different eligibility assessment criteria for availing a Loan Against Property?

The eligibility assessment criteria for availing a Loan Against Property from IDFC FIRST Bank include factors such as:

• Income - Eligibility calculation basis the derived income & net profit of the business

• Banking -  Eligibility calculation basis the average bank balance

• GST returns - Eligibility calculation basis the annual business turnover

• Rental Income - Eligibility calculation basis the net rental

How do I apply for IDFC FIRST Bank Loan Against Property?

You can apply for IDFC FIRST Bank Loan Against Property via –

Our Website - https://www.idfcfirstbank.com/business-banking/loans/loan-against-property

Our Mobile App - https://my.idfcfirstbank.com/digital-banking-app

Our Branches - https://nearme.idfcfirstbank.com/

Our Loan Centres - https://www.idfcfirstbank.com/support/asset-branch

Or you can call us on 1800 10 888 and speak to our representative

What is the loan application process?

Here's a step by step break down of our application process for Loan Against Property:

• Submission of the Application Form along with the required documents,

• Document verification (mandatory verifications instituted to ensure validation of documents provided)

• Personal Discussion (for assessment & to understand the customer profile from a risk perspective)

• Legal & Technical valuation

• Credit Decision

• Loan Disbursement

Does IDFC FIRST Bank offer insurance for my Loan Against Property in case of an unforeseen event?

At IDFC FIRST Bank, we aim to safeguard our customer's interest by offering the below insurance covers:

• Property Insurance - Covers the tangible assets of a person's personal or commercial property from unforeseen events.

• Life Group Credit Protect - In event of death, disability or illness of the insured member, it will protect their families from the burden of repaying the outstanding loan to the financial institution.

• Health Protect plans - Covers medical expenses that arise due to an illness.

• Accident protect plan -  Covers medical expenses pertaining to injuries like a broken limb, loss of a limb, burns, lacerations, or paralysis.

• EMI Protect Plan - Protection plan that offers insurance coverage on EMI in case you are unable to pay an EMI

How will my EMI be calculated?

The principal amount and the interest rate applied to the principal make up your EMI. The amount you borrow, the rate of interest charged, and the loan tenure are the variables that affect the EMI. If the interest rate increases, EMIs may alter.

By making a partial prepayment, that is, paying back more than you are obligated to, you can lower your EMI amount.

You can calculate your potential EMI here

What are the various charges incurred?

Click on the link to know more about the charges.

How is Dropline Overdraft different from an overdraft facility?

Unlike a standard overdraft where limit remains constant, a dropline overdraft is a revolving credit line wherein limit decreases every month and reduces to zero at the end of the loan tenure. 

How is the interest charged on the borrowed amount for a Dropline Overdraft facility?

The interest is levied only on the utilized amount and not on the total amount borrowed. Interest is calculated daily and levied at the end of each month.

How does the limit drop for a Dropline Overdraft facility?

The withdrawal limit reduces every month till the end of the loan tenure. The limit can be renewed every year based on the repayment behaviour.

More FAQs

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