A loan against property, also called a mortgage loan, lets you borrow by pledging a residential or commercial property you own while continuing to use it. It is a secured borrowing where the property serves as collateral, and because it is backed by an asset it typically suits larger financing needs such as business expansion, funding a child's education, meeting medical costs, consolidating existing obligations or managing other significant personal or professional expenses.
IDFC FIRST Bank, a private sector bank established in 2015, positions its loan against property for salaried professionals, self-employed individuals, partnership firms, private companies, trusts and societies. The bank emphasises assessing eligibility on the market value of the pledged property together with the applicant's income profile and credit history, and it offers balance transfer of an existing mortgage from another lender along with an additional top-up facility on the transferred loan.
For self-employed and business borrowers it highlights options to be assessed on audited financials as well as a route based on bank statements or GST returns, giving flexibility around how income is evidenced. Sanction and final terms remain subject to the bank's credit appraisal and verification of the property title and documents, and approval is not guaranteed.
At 9%, IDFC FIRST Bank has one of the lowest starting rates of the 18 lenders we track for loans against property.
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.