Rate from
9.4%
Max Amount
₹1000L
Tenure
60–240 mo
Processing Fee
0.5% of loan amount
Product Overview
Everything you need to know about this offer
- LIC Housing Finance's LAP unlocks the value of your owned residential or commercial property as low-cost capital.
- Sanctions go up to ₹10 crore at rates from 9.4% p.a.
- and tenures up to 20 years, with LTV up to 70% on residential and 55% on commercial assets.
- Common end uses include business expansion, debt consolidation, medical emergencies, higher education and large personal expenses.
- The property remains in your possession throughout — only the title is mortgaged in favour of the lender via a registered mortgage or equitable deposit.
- Both salaried and self-employed applicants are eligible, with assessment based on a combination of income, banking and the underlying property valuation.
- Floating rates are typically 200–400 bps lower than unsecured personal or business loans, making LAP one of the cheapest large-ticket retail credit options in India.
- DhanLift compares LIC Housing Finance against 15+ banks and HFCs, exposing differences in spread, legal/technical fees, valuation methodology and prepayment terms before you commit..
Interest / Features
Offer-level pricing, fees, and core features
Interest range
9.4% - 12.75%
Reducing balance rate, profile dependent.
Loan amount
₹5L - ₹1000L
Available amount range for this offer.
Tenure
60-240 mo
Choose repayment based on EMI comfort.
Processing fee
0.5% of loan amount
Foreclosure
Nil for individuals on floating (RBI)
LTV up to 70% residential / 55% commercial
Tenure up to 20 years
Rates 200–400 bps lower than unsecured loans
Multi-purpose end-use
Key Benefits
Why thousands choose this specific product
- LTV up to 70% residential / 55% commercial
- Tenure up to 20 years
- Rates 200–400 bps lower than unsecured loans
- Multi-purpose end-use
- Top-up after 12 EMIs
- Both residential & commercial accepted
Eligibility Criteria
Check if you qualify before applying
Age 25–65
Clear marketable title in applicant's name
Documented income (salary / ITR)
CIBIL 700+
Property self-occupied or rented (both eligible)
Documents Required
Keep these ready to speed up your application
Title chain documents
Latest tax receipt / municipal records
KYC of all owners
Income proof
Last 12 months bank statement
Property valuation (lender-arranged)
Interest Rate & Fees
Transparent pricing, no hidden charges
| Interest rate | 9.4% – 12.75% p.a. (floating) |
| Processing fee | 0.5% of loan amount |
| Legal & technical | ₹7,500 – ₹15,000 |
| Foreclosure (floating) | Nil for individuals (RBI mandate) |
| Foreclosure (fixed) | 3% of outstanding |
| Stamp duty on mortgage | As per state law |
* Rates and fees indicative; final pricing depends on credit assessment. All charges exclude GST unless mentioned.
LAP EMI Calculator
Estimate your monthly payments instantly
₹5,00,000
10.90 %
36 mo
Principal vs interest15% interest share
PrincipalInterest
Monthly EMI
₹16,346
Total interest
₹88,445
Total payable
₹5,88,445
Indicative only. Actual EMI depends on lender pricing, processing fees, and your credit profile.
Frequently Asked Questions
Quick answers before you apply
Up to 70% of market value for residential and 50–55% for commercial properties, subject to lender valuation.
Yes. Both self-occupied and rented residential / commercial properties are accepted.
LAP is multi-purpose — business, education, medical, debt consolidation, wedding etc. Speculative trading is excluded.
10–15 working days end-to-end, including legal title search and technical valuation.
Yes — RBI has waived prepayment and foreclosure charges on floating-rate LAP for individual borrowers.
Yes. Top-up is available after 12 EMIs of clean repayment, subject to fresh property valuation.
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