Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Current Property Loan Interest Rate - Dec 2023

Mortgaging your property may seem like a hard call but it is actually one of your safest options. With SMFG India Credit Loan Against Property, get maximum value with affordable interest rates, flexible repayment options and tenures. We ensure the process is simple & seamless for you at every step of the way until you fulfil your needs – personal or professional. No matter what your goal, realising it is within reach with our loan against property solutions.

Interest rates for Loan against property depend on multiple factors. We offer a diverse set of mortgage loan products to meet various needs. It does not matter if you are salaried, self-employed, or a business entity – we have the perfect, tailored solution for everyone. 

Loan against property interest rates also depend on the type of property you would like to mortgage, its current market value, available documentation, your income and so on. 

The information below can help you estimate your interest rates. You can also connect with us at our nearest branch or on phone, mail or chat.

Please refer to the policy and charges before applying for a loan against property online.

Customer type Rates
Salaried / Self Employed / SMEs

SMFG India Credit Retail Prime Lending Rate (RPLR) is 20.40% w.e.f 8th December, 2022

Lowest Interest Rate (depending on several factors including net income, employment or business stability, existing monthly obligations, type of LAP product, etc.)

Loan Against Property Fees & Charges

Here is a table containing our loan against property fees and charges for your better understanding. Please note that the below charges will be applicable with effect from 4th November, 2019

Fee Type Applicable Charges
Delayed EMI Payment Interest  24% per annum on outstanding balance which is overdue, calculated on day to day basis
Collection of Cheque/Cash (per collection) NIL
Cheque /ECS/NACH dishonoured Charges (per dishonour of cheque/ECS/NACH per presentation) 300
Swap Charges- for replacement of Post-dated cheques to ECS (per instance) 500
Swap Charges- for replacement of ECS to ECS (per instance) 500
Loan Cancellation charges (loan cancelled before first EMI) 5,000
Processing Fees Up to 3% of the Loan Amount
Rate of interest conversion fee An amount not exceeding 1% of the loan amount sanctioned (SME loans / Loan against Property & LRD)
Page also available inहिन्दी - Hindi

SMFG India Credit Loan Against Property EMI Calculator

Calculate your loan EMI at your fingertips

12 Months180 Months

Your Calculated EMI*


Disclaimer The above calculator with graph & below table provide an approximate calculation of the EMI ( Equ... Read More


Who is eligible for a Loan against Property?

You are eligible for Loan Against Property as a salaried resident between 21 years and 60 years of age, a self-employed resident of India between 25 years and 65 years of age, or an SME. If the applicant is an SME (small and medium enterprise), then the SME has to be 2 years old. You also need to be the owner of residential or commercial property, and the property should be free of all mortgage claims / legal disputes.

What is the CIBIL score required for a Loan Against Property?

CIBIL score of 700 and above is required to be eligible for Loan Against Property. CIBIL score reflects your creditworthiness. CIBIL score is arrived at based on your payment history, credit exposure type, credit duration, etc.

Are there any charges other than Loan Against Property interest rate?

Yes, there are few other charges. You need to pay a processing fee of upto 3% of the loan, interest rate conversion fee upto 1%, INR 5,000 if the loan is cancelled before the first EMI, INR 500 swap charges for replacement of ECS, post-dated cheques, INR 300 for cheque dishonour, and 24% per annum on outstanding balance calculated on day to day basis for delayed EMI.

How to calculate Loan Against Property interest rate?

The interest rate offered to you will depend on a variety of factors, including your eligibility and the policy of SMFG India Credit at the time of loan application. You can estimate your monthly EMI that will be applicable to your loan based on our EMI calculator.

How to reduce loan against property interest rate?

You can reduce your Loan Against Property interest rate by following some habits regularly. They include paying all your EMIs on time, selecting shorter tenures, making higher down payment whenever possible, and by maintaining a healthy CIBIL score.

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* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.

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Get in Touch

Have a query? You can contact us through any of the channels listed below.

Toll Free Number
1800 103 6001 Timings: 9:00 AM to 7:00 PM (Monday to Saturday excluding public holidays & fourth Saturday of every month).