Get a Loan Against Property from ICICI Bank

Loan Against Property (LAP) is a secured loan where you can pledge your residential, commercial or industrial property as collateral to borrow funds.

Individuals, including salaried professionals, self-employed individuals and business owners, can apply for a Loan Against Property. Eligibility depends on factors such as income, age, property type and credit score.

You can avail of a Loan Against Property for a maximum tenure of up to 15 years. However, the tenure offered may vary depending on factors such as your repayment capacity, age and the Bank’s policies.

You can mortgage residential, commercial or industrial properties. The property must be owned by the applicant and should meet ICICI Bank’s eligibility criteria.

Yes, ICICI Bank offers an overdraft facility under Loan Against Property, allowing you to withdraw funds as needed and pay interest only on the utilised amount.

You can avail a maximum of up to 75%* of the property’s market value as a Loan Against Property, depending on factors such as the property type and your eligibility.

To get a loan against vacant land, you can apply for a Mortgage Loan with ICICI Bank, either online or offline. The Bank will ask you for certain important documents, including the land ownership documents, income proof and ID proof. The Bank will then analyse the land’s value and your repayment capacity before approving the loan.

ICICI Bank usually accepts residential, commercial and industrial property as collateral. The property should have clear ownership, proper documentation and no legal disputes. Vacant plots might be accepted in specific cases, but mostly built-up properties are preferred.

Click here to check the foreclosure charges of ICICI Bank Loan Against Property.