ICICI Bank Loan Against Property

A loan against property is a secured borrowing where you pledge an owned residential, commercial or industrial property as collateral to raise funds while continuing to use the property. Because it is backed by security, it is generally used when a borrower needs a larger sum for purposes such as business expansion, funding education, meeting medical expenses or consolidating existing debts.

The property remains mortgaged to the lender until the loan is repaid, and the amount available typically depends on the assessed market value of the pledged asset. ICICI Bank, a private-sector bank established in 1994, offers loan against property to salaried professionals, self-employed individuals and business owners, and extends eligibility to both resident Indians and Non-Resident Indians.

Its version emphasises acceptance of residential, commercial and industrial properties, an overdraft variant under which interest is charged only on the amount actually drawn, a top-up option for those with an existing mortgage, and provisional sanction based on the applicant's profile. The bank also positions the product around an online application journey with doorstep assistance. Approval and the sanctioned amount depend on property valuation, income assessment, credit history and the bank's internal criteria, and are not guaranteed.

At 9.35%, ICICI Bank has one of the lowest starting rates of the 18 lenders we track for loans against property.