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.
As published by ICICI Bank. Your branch may ask for more.
LAP is secured against property, so the rate is lower and the tenure longer than an unsecured personal loan — better when the need is large and long-term. The trade-off is a legal/valuation process and your property as collateral.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.