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ICICI Loan Against Property


Interest Rates & Charges

To borrow smartly, one must be able to take out a loan against property with reasonable terms. We are aware of this requirement and have designed our loan to be as affordable as possible. With some of the lowest costs available, ICICI Loan Against Property is provided at a competitive rate of interest. Furthermore, we promise unmatched transparency in all loan proceedings and there are no hidden fees of any type.


Applicable Fees


Interest rate


Our LAP loan interest rate starting at 8.35 percent would help you control costs and keep your EMIs manageable. Fund all types of personal or professional costs while assuring the best possible return.


Processing charges


A processing fee is charged when a Loan Against Property is processed. The application fee is a one-time charge imposed during the submission process. Our fee is 1 percent of the approved loan value, along with the applicable taxes.


CIBIL Charges


At the time of loan assessment, banks check CIBIL's credit score, so it charges a nominal fee. It is also included along with the loan processing fee, which is usually Rs50 plus applicable taxes.

Administrative Charges

There is a non-refundable fee assessed by ICICI Bank even before the loan application is approved. We impose a charge of Rs5,000 or 0.25 percent, whichever is lower, along with plus applicable taxes.

 Pre-payments Charges

If a borrower prepays the LAP Loan amount (partially or fully) before its due date/during the loan tenure, a prepayment charge is levied. As a result, either the number of EMIs or the amount of the EMI is reduced.

Floating Rate of Interest: - 4% plus applicable charges

Fixed Rate of Interest: - 4% plus applicable charges

Overdraft facilities: - 4% plus applicable charges

Conversion Charges

The conversion facility allows customers to reduce the applicable Loan Against Property Interest rates. By paying a nominal fee, you can convert from a floating rate to a fixed rate.



Floating to Floating

Dual Fixed Rate to Floating

Floating to Dual Fixed

Lifetime Fixed to Floating

0.5% of the Outstanding + applicable taxes

0.5% of the Outstanding + applicable taxes

0.5% of the Outstanding + applicable taxes

1.75% of the Outstanding + applicable taxes


Others Charges


Repayment Mode Swap Charges


Documents Retrieval Charges


Cheque / AD / ECS / Bounce Charges


Duplicate No Objection Certificate / No Due Certificate


Revalidation of No Objection Certificate


Late payment Charges – Home Loan

2% per month

ICICI Loan Against Property

Types of ICICI Loan Against Property Interest Rate

There are two kinds of ICICI Loan Against Property interest rates: fixed and floating.

Fixed Interest Rate

Here, the rate of interest charged on the ICICI Loan Against Property amount will remain constant throughout the loan repayment period. You know your ICICI Loan Against Property EMI obligation at the start of the tenor, allowing you to plan your monthly budget accordingly.

ICICI Loan Against Property
ICICI Loan Against Property

Floating Interest Rate

Here, ICICI Loan Against Property interest rates could change depending on changes to the Marginal Cost of Lending Rate (MCLR), which is the base rate set for banks by the RBI. With changes in MCLR, the interest rate on loans also gets revised. With a lower interest rate, the repayment amount also reduces. On the other hand, if the interest rates increase, your EMI obligation will also increase. A floating ICICI Loan Against Property interest rate makes it difficult for you to ascertain your monthly financial obligation.

ICICI Loan Against Property Interest Calculation Method

There are two methods to calculate interest: flat rate method and the reducing balance method.

In the flat interest rate method, the interest rate is based on the complete loan amount you pay during the repayment period. In case of reducing the balance method, the rate of interest on the ICICI Loan Against Property will be considered and calculated on the basis of the outstanding loan amount.

Flat Interest Rate Calculation

EMI = (principal + total interest payable) / loan tenure in months i.e. total interest payable = P x r x n/100

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

Floating Interest Rate Calculation

EMI = [P x r x (1 + r) ^n] / [(1 + r) ^(n-1)]

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

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