LIC Housing Finance Loan Against Property
A loan against property (LAP) is a secured borrowing where you pledge property you own as collateral to raise funds, while continuing to use or occupy that property. Because it is backed by an asset, a LAP is typically taken when a borrower needs a sizeable amount for purposes such as business expansion, meeting working capital or personal needs, funding higher education, a family wedding, or medical expenses.
The pledged property serves as security, and the funds can be applied across these varied end-uses. LIC Housing Finance, a housing finance company established in 1989 and headquartered in Mumbai, offers loans against property for individuals as part of its non-housing loan range. Its LAP is positioned as a resident-only facility where the pledged property acts as the security for the borrowing.
The company outlines the offering around clear categories covering the purpose of the loan, the sanctioned amount, the loan term, and the security involved, and it accepts property as collateral for eligible applicants. LIC Housing Finance emphasises accessible customer support and a straightforward application route, with self-employed applicants able to have repayment structured to suit their circumstances. Eligibility, sanction, and final terms are assessed by the lender based on the applicant profile and the property offered, and approval is not guaranteed or assured.
Eligibility
Loan terms
- Available to resident individuals who pledge owned property as security for the loan
- Accepts property as collateral, with the pledged asset serving as the security for the borrowing
- Funds can be used for varied purposes including business, personal, and other eligible needs
- Repayment can be structured to suit self-employed applicants' circumstances
- Application supported through an online apply route and customer support channels including WhatsApp
Documents
- PAN and Aadhaar
- Last 3 salary slips (salaried) or 2-year ITR (self-employed)
- 6-month bank statement
- Passport-size photograph
- Property documents (title, chain, approvals)
Fees & charges
FAQ
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.