Loan Against Property
Understand About Types of Mortgage Loans
Jun 12, 2025 | 4 mins read
LAP Balance Transfer
Take control of your finances with a Loan Against Property Balance Transfer, at rates starting at 9.00%* p.a. Transfer existing LAP for up to ₹ 7 Crore* and enjoy reduced EMIs with tenures of up to 20 years. You can also avail a top up beyond your original loan amount for extra funds. Our easy, hassle-free process offers a smart solution to lower your EMI burden and meet your financial commitments with greater flexibility.
EMI Calculator
Results generated by the calculator(s) are indicative in nature.
Preferred loan amount
₹
₹30,00,000
₹7,00,00,000
Interest rate (per annum)
%
9.00%
13%
Loan tenure (months)
36 months
240 months
Estimated EMI
per month- ₹ 36,690
Interest payable
₹52,41, 690
Eligibility & Documents
Eligibility
Residency:
Indian resident or NRI
Age:
Salaried: 23 years to 70 years
Self-employed: 25 years to 70 years
Profession:
Salaried / self-employed professionals and non-professionals
Other:
Can be increased by adding co-applicant income or other verifiable income sources
Documents
Age Proof
Aadhaar Card | PAN Card | Passport
Address Proof
Utility bills (not older than 2 months) | Aadhaar Card | Driving License | Passport | Voter ID etc
Photo ID Proof
PAN and any one of the following- Aadhaar Card| Driving License | Passport | Voter ID | Job card by NREGA | Letter issued by the National Population Register containing details of name and address
Others
Eligibility can be increased by adding co-applicant income or other verifiable income sources
List of Additional documents related to your existing loan
Forclosure letter | List of documents submitted to the bank | Statement of account
Income Proof
Income proofs vary for different professionals across salaried, non-salaried and self-employed. List of required income documents
Additional documents can be asked*
Fees And Charges
List of all fees and charges for Loan Against Property Balance transfer
Processing Fee:
Up to 3% of sanctioned amount + applicable taxes
Login Fee:
Up to Rs.5000/- (inclusive of applicable taxes) (nonrefundable)
EMI Dishonour/Bounce Charge*
*A bounce charge is a charge for
(i) dishonour of any repayment instrument; or
(ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandateAs shown in the table below
Loan sanction amount (in INR)
Charges in (in INR)
< 5 lacs
₹ 500
5 – 50 Lacs
₹ 1000
>50 Lacs – 2 Cr
₹ 1500
>2 Cr
₹ 2000
Penal Charge/Late Payment Charge (LPC):
Up to 2% per month (p.m.) on overdue EMI + applicable taxes
Annual Maintenance Charges (applicable only for Dropline Overdraft and Hybrid Overdraft)
Up to 0.25% + applicable taxes of Dropline Limit available at start of each year (i.e. first on 13th Month and then every anniversary thereon).
Document retrieval / Duplicate NOC charges
Duplicate NOC (charge is applicable for paper copy post 3 free copies per customer), list of documents, Photo copies of the documents (property & others) Up to Rs.1000/- + applicable taxes
Repayment instrument swap fee (per swap):
Up to Rs. 500/- + applicable taxes (applicable only for branch walk-ins)
Asset valuation and verification fee
Up to 1% of loan amount + applicable taxes
Documentation and repayment setup fee
Up to Rs.2,000/- + applicable taxes
Interest conversion fee
Floating interest rate to floating interest rate: 0.5% of balance Loan Amt. or Rs. 10,000/- whichever is higher + applicable taxes
Floating interest rate to a fixed interest rate and vice versa: 1% of balance Loan Amt. or Rs. 10,000/- whichever is higher + applicable taxesCharges incurred by LTF for initiating action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002:
- Issue of Loan Recall Notice = Up to Rs. 500/ –
- Issue of Demand Notice = Up to Rs. 1,000/ –
- Issue of Possession Notice = Up to Rs. 2,000/ –
- Applying District Magistrate Order = Up to Rs. 8,000/
- Taking Physical possession = Up to Rs. 20,000/ –
Actual cost incurred will be debited for expenses pertaining to Publication of Possession Notice/ Publication Demand Notice/Publication of Sale cum Auction Notice. All applicable taxes will be added.
Loan Cancellation Charges:
Up to Rs. 5000/– + applicable taxes
Recovery of proportionate actual expenses from disbursement date(s), from individual borrower(s) in
LAP – Up to 1% of total disbursed loan amount + applicable taxes in case of closure within 24 months
Foreclosure / Full Prepayment Charges – Loan Against Property:
For Individual Borrowers –
- Floating Rate –
Nil Charges where end use is not for business/commercial purpose
For cases where end use is for business/commercial purpose
i. Less than 1 year from disbursement – up to 3% principal outstanding + applicable taxes*
ii. Post 1 year of disbursement – up to 2% on principal outstanding + applicable taxes* - Fixed Rate –
i. Less than 1 year from disbursement – up to 4% principal outstanding + applicable taxes
ii. Post 1 year of disbursement – up to 3% on principal outstanding + applicable taxes
*Note: NIL for loans and advances sanctioned or renewed on or after January 1, 2026.
For Non – Individual Borrowers – (Applicant/Co – applicant)
- Fixed/Floating rate loan –
i. Less than 1 year from disbursement – up to 4% principal outstanding + applicable taxes*
ii. Post 1 year of disbursement – up to 3% on principal outstanding + applicable taxes*
*Note: NIL for MSEs loans and advances, sanctioned or renewed on or after January 1, 2026 for floating rate loan.
- Floating Rate –
Pre-payment Charges – Loan Against Property:
For Individual Borrowers –
- Floating Rate –
Nil Charges where end use is not for business/commercial purpose. For cases where end use is for business/commercial purpose
i. Less than 1 year from disbursement – up to 3% on Partial/Pre-payment amount + applicable taxes*
ii. Post 1 year of disbursement – up to 2% on Partial/Prepayment amount + applicable taxes* - Fixed Rate –
i. Less than 1 year from disbursement – up to 4% on Partial/Pre-payment amount + applicable taxes
ii. Post 1 year of disbursement – up to 3% on Partial/Pre-payment amount + applicable taxes
*Note: NIL for loans and advances sanctioned or renewed on or after January 1, 2026.
For Non – Individual Borrowers – (Applicant/Co – applicant)
- Fixed/Floating rate loan –
i. Less than 1 year from disbursement – up to 4% on Partial/Prepayment + applicable taxes*
ii. Post 1 year of disbursement – up to 3% on Partial/Prepayment amount + applicable taxes*
*Note: NIL for MSEs loans and advances, sanctioned or renewed on or after January 1, 2026 for floating rate loan.
- Floating Rate –
Foreclosure / Full Prepayment Charges – for Dropline Overdraft / Hybrid Overdraft
For Individual Borrowers –
- Floating Rate –
Nil Charges where end use is not for business/commercial purpose. For cases where end use is for business/commercial purpose
i. Less than 1 year from disbursement – up to 3% on Dropline Limit + applicable taxes*
ii. Post 1 year of disbursement – up to 2% on Dropline Limit + applicable taxes* - Fixed Rate –
i. Less than 1 year from disbursement – up to 4% on Dropline Limit + applicable taxes
ii. Post 1 year of disbursement – up to 3% on Dropline Limit + applicable taxes
*Note: NIL for loans and advances sanctioned or renewed on or after January 1, 2026.
For Non – Individual Borrowers – (Applicant/Co – applicant)
- Fixed/Floating rate loan –
i. Less than 1 year from disbursement – up to 4% on Dropline Limit + applicable taxes*
ii. Post 1 year of disbursement – up to 3% on Dropline Limit + applicable taxes*
*Note: NIL for MSEs loans and advances, sanctioned or renewed on or after January 1, 2026 for floating rate loan.
- Floating Rate –
Pre-payment Charges – – for Dropline Overdraft / Hybrid Overdraft:
Part pre-payment of Loan toward limit reduction is not available
Non-Compliance Charges:
Up to 1% p.a. of principal outstanding loan amount + applicable taxes
Breakup between Principal & Interest:
As per Repayment Schedule
Example of SMA/ NPA classification:
More particularly mentioned under “Classification of Assets” under the head “Miscellaneous”
Field collection service fee:
Up to Rs. 500/- per collection + applicable taxes
Legal fees and charges:
As per actuals or Up to Rs. 50,000/- whichever is lower + applicable taxes
Recovery charges:
As per actuals or Up to Rs. 1,00,000/- whichever is lower + applicable taxes
Auction fees:
Up to 1% of auction sale amount + applicable taxes
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FAQs & Support
View allIs there any processing fee for LAP Balance Transfer?
Yes, a processing fee is applicable for LAP balance transfer, which varies by lender. At L&T Finance, it's 1% of the sanctioned amount plus taxes.
Can I get a top up loan along with a LAP Balance Transfer?
Yes, we offer a top up facility along with a balance transfer, providing you with extra funds for business or personal needs.
Can I pre-pay my LAP BT?
Yes, you can prepay your LAP balance transfer. However, pre-payment or foreclosure charges may apply depending on the amount you want to pay. It’s important to check the terms of your loan.
What are the benefits of transferring my LAP?
Benefits include lower interest rates, reduced EMIs, flexible loan tenure options, and additional top up loans.
What is Loan Against Property Balance Transfer?
A Loan Against Property Balance Transfer allows you to transfer your existing LAP from your current lender to a new lender for a reduced EMI, lower interest rates and better loan terms.
Housing Loan
Buying a home in Mumbai was always a dream of mine, and L&T Finance has made this dream come true. They offered competitive interest rate, quick approval with easy documentation. I would highly recommend L&T Finance to anyone looking for a reliable home loan provider.
Yadika Hussain
Mumbai
Housing Loan
L&T Finance made my homeownership and business growth easier! After taking a home loan with another bank, I needed additional funds to expand my business. L&T offered a quick response, pre-approval, & a streamlined process with minimal paperwork. Plus, I received lower interest rate & maximum funding!
Amol Hirawadekar
Mumbai
Housing Loan
Choosing L&T Finance for our home loan was seamless. The team was supportive, with transparent documentation, quick responses, and competitive rates. Their efficient process made our home-buying journey smooth, and the L&T Emerald’s location, amenities, and security make it the perfect choice for our family.
Amit Chaturvedi
Mumbai, Maharashtra
Housing Loan
I was looking to buy a property and L&T finance Housing Loans stepped in forward to cater to all my demands, the ease of the documentation processes and their commitment to provide disbursement at the earliest. Whatever I asked, the team was there support at every step to get me through.
Mr. Sharad Pandey
Captain, Merchant Navy
Housing Loan
The process of applying L&T Finance Housing loans was a very easy and seamless process. And the credit goes to L&T Finance's entire Housing loan team. They have been extremely helpful & quick response. A very transparent process, the best of the market rates and quick disbursement.
Amit Chaturvedi
Powai, Mumbai
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