IndusInd Bank Loan Against Property

IndusInd Bank Loan Against Property
Interest rates	As per the credit profile of the borrower
Loan amount	Based on the customer profile
Loan tenure	Up to 20 years
Processing charges	Up to 3% of the loan amount

Note: Rates updated as of 5 November 2024

IndusInd Bank Loan Against Property Interest Rates

IndusInd Bank has not disclosed the interest rates it has set for loan against property. However, many lenders consider the age, credit score, monthly income, occupation profile, etc while setting the loan against property interest rate for their loan applicants.

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.00-11.30
Bank of Baroda	10.85-18.60	Apply Now
PNB Housing Finance	9.25-15.00	Apply Now
IDFC First Bank	9.00-16.50	Apply Now
HDFC Bank Limited	9.50-11.00	Apply Now
L&T Housing Finance	9.50 onwards	Apply Now
LIC Housing Finance	9.50-11.55	Apply Now
Godrej Housing Finance	9.75 onwards	Apply Now
ICICI Bank	10.85-12.50	Apply Now
Tata Capital	9.00 onwards	Apply Now
Axis Bank	10.50-10.95	Apply Now
Punjab National Bank	10.40-12.75	Apply Now

IndusInd Bank Loan Against Property Fees and Charges

Processing charges

Processing charges

Up to 3% of the loan amount

Foreclosure charges

For individual borrowers	NIL
For others	4% of the principal outstanding (NO part or full prepayment allowed within 12 months of the EMI start date)

Other fees and charges

Cheque bounce charges including SI, ECS and ACH	Rs 500 per cheque bounce
Cheque swapping charges	Rs 500 per swap per instance
Duplicate repayment schedule charges	Rs 500
Conversion charges	Upto 0.75% of the principal outstanding plus applicable taxes
Swap of property/collateral	0.1% of the Loan Amount Outstanding or Rs 10,000/- per event of such swap, whichever is higher

Types of IndusInd Bank Loan Against Property

The two types of IndusInd Bank LAP schemes are as follows:

• Loan against residential or commercial properties
• Lease rental discounting

Eligibility Criteria for IndusInd Bank Loan Against Property

Eligible constitution borrowers

• Individuals/Proprietorship concerns
• Partnership firms
• Private Limited Companies
• Closely held Public Ltd Companies (not listed on any stock exchange)

For salaried individuals:

• Any individual employed permanently in any Public sector Undertaking, Government undertaking, Multi National Company, Listed public limited company or well-known private limited company can apply
• Minimum age: 21 years
• Maximum age: lower than retirement age

For self-employed professionals and non-professionals:

• Doctors, Chartered Accountants, Cost Accountants, Architects, Engineers, Company Secretary, CFA’s can apply
• Any individual filing Income Tax returns can apply
• Minimum age: 21 years
• Maximum age:70 years

Along with the above-mentioned criteria, IndusInd Bank may also consider the asset owned, liabilities, and property value while evaluating the loan against property eligibility of its applicants.

Documents Required for IndusInd Bank Loan Against Property

Common documents required for both individuals and non-individuals:

• Application form with passport size photographs
• KYC Documents: Valid ID/Residence/Signature Proof
• Latest 6 months bank statement of the MAIN CA/SA/CC/OD account
• Copy of all property documents of the concerned property that you wish to mortgage for loan
• Processing fee cheque

Additional documents required for individuals

Latest Form 16/ITR copy/Appointment letter and last 3 months’ salary slips / Salary Certificate

Additional documents required for non-individuals

• Latest 2 years ITR along with Computation and Acknowledgement.
• 2 years financials with full schedules & audit rpt (Form 3CD & 3CB).
• Financials to be audited for T/O > 40 /60 Lacs case else should be CA certified

The bank may also ask for additional loan against property documents based on the applicant’s profile.