Planning a Loan Against Property (LAP) and considering ICICI Bank? Use this calculator to see your monthly EMI, total interest, and full repayment schedule before you apply. Enter the loan amount, the rate you are quoted, and your tenure.
A Loan Against Property is a secured loan where you pledge an existing property as collateral. Because the loan is fully secured, LAP typically offers larger amounts and longer tenures than unsecured loans.
A Loan Against Property (LAP) is a secured loan where you mortgage an existing property — residential, commercial, or industrial — to borrow funds. The loan amount is a percentage of the property's market value as assessed by the lender. You retain ownership and use of the property while the loan is outstanding.
LAP is often used for large business requirements, higher education, medical expenses, or other significant needs where the required amount exceeds what an unsecured loan can offer.
Requirements vary. Confirm with the lender directly before applying.
Enter the loan amount sanctioned based on your property's assessed value, the interest rate offered, and your preferred tenure in the calculator above. The monthly EMI, total interest, and full amortization schedule are calculated instantly.
The loan amount is a percentage (LTV) of your property's assessed market value. The LTV depends on property type and the lender's policy. The lender assesses the property value independently — always confirm the applicable LTV directly with the lender.
A home loan is taken specifically to purchase or construct a property. A LAP is taken by mortgaging an existing property you already own, and the funds can be used for any purpose. Home loans typically carry lower rates than LAP.
If you default, the lender has the right to enforce the mortgage and recover dues from the pledged property. Always ensure the monthly EMI is comfortably within your repayment capacity before taking a LAP.
Interest rates, processing fees, and all other lender details change frequently and without notice. DigiCalc does not display, guarantee, or endorse any rates, fees, or terms from any lender. Always verify current figures directly with the lender before making any financial decision.
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Calculator outputs are estimates based on user-provided inputs and standard mathematical formulas. Actual results — including but not limited to EMIs, total interest, and repayment amounts — may vary significantly due to factors not captured by these tools.
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