Bank of Baroda Loan Against Property (LAP): Rates & Eligibility

Bank of Baroda Loan Against Property (LAP)

Leverage your residential or commercial property to unlock high-value funding with Bank of Baroda. Starting at 10.85% p.a., BOB LAP offers a robust financial solution for business expansion, personal liquidity, or debt consolidation without the need to sell your assets. MyLoans helps you secure loans up to ₹25 Crore with flexible 15-year tenures.

Competitive Floating Rates from 10.85% p.a.
High-Value Funding up to ₹25 Crore.
Overdraft Facility available with +0.50% margin.
Zero Prepayment charges for Floating Rate loans.

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Starting Rate10.85% p.a.

Max FundingUp to ₹25 Cr

Tenure15 Years

BOB LAP Interest Rates: Floating Structure

Tenure Bracket	Loan Amount	Interest Rate (p.a.)
Up to 10 Years	≤ ₹7.5 Crore	10.85% – 15.75%
Up to 10 Years	> ₹7.5 Crore	11.10% – 16.00%
10 – 15 Years	≤ ₹7.5 Crore	11.35% – 16.25%
10 – 15 Years	> ₹7.5 Crore	11.60% – 16.50%

BOB LAP Interest Rates: Fixed Structure

Tenure Bracket	Loan Amount	Interest Rate (p.a.)
Up to 10 Years	≤ ₹7.5 Crore	12.60% – 17.60%
Up to 10 Years	> ₹7.5 Crore	12.85% – 17.85%
10 – 15 Years	≤ ₹7.5 Crore	13.10% – 18.10%
10 – 15 Years	> ₹7.5 Crore	13.35% – 18.35%

Eligibility Criteria for BOB LAP

Profile & Experience

Salaried, Self-employed, Business owners, and Professionals are eligible. Minimum 3 years of professional experience or business stability is mandatory.

Income Requirements

Minimum annual income of ₹3 Lakh for Resident Indians and ₹5 Lakh for NRIs (Minimum 2 years abroad employment required for NRIs).

Age Limits

Minimum entry age is 21 years, with a maximum maturity age of 60–65 years depending on the applicant's profile.

Co-Applicant Policy

Close relatives are permitted as co-applicants. For non-relatives, they must be mandatory co-owners of the property being pledged.

Required Documentation Checklist

Salaried & Basic Documents

Identity: PAN, Aadhaar, Passport.
Income: Last 3 months slips & 3 years ITR/Form 16.
Bank: Last 6 months account statements.
NRI: Visa, Work permit & Overseas bank statements.

Self-Employed & Property

Business: Valid business proof, 3 years ITR & Financials.
Property: Title deed, Tax receipts, Encumbrance certificate.
NOC: Society NOC or relevant development authority approval.
P&L: Certified Profit & Loss and Balance Sheets.

Processing Fees & Prepayment Charges

Charge Category	Applicable Fee Details
Processing Fee	Approximately 1% (Range: ₹8,500 – ₹1,50,000)
Floating Rate Prepayment	NIL (No penalty for individual borrowers)
Fixed Rate Prepayment	2% if within 3 years \| NIL after 3 years
Other Charges	Includes Legal, Valuation, and Documentation expenses

Market Comparison: LAP Interest Rates

Bank / Financial Institution	Interest Rate Range (p.a.)
Bank of Baroda	10.85% – 16.50%
State Bank of India	10.60% – 11.30%
HDFC Bank	9.50% – 11.00%
ICICI Bank	10.85% – 12.50%
Axis Bank	10.50% – 10.90%
Kotak Mahindra Bank	9.50% onwards

Frequently Asked Questions

What is the starting interest rate for BOB LAP?

Bank of Baroda LAP interest rates start from 10.85% p.a. for loans up to ₹7.5 Crore with a tenure of up to 10 years.

What is the maximum loan amount available?

Under the Bank of Baroda LAP scheme, you can borrow up to ₹25 Crore, depending on the valuation of your property and your repayment capacity.

Are there any prepayment charges?

For Floating Rate loans, there are NIL prepayment charges. For Fixed Rate loans, a 2% penalty applies if prepaid within the first 3 years.

Can I use the funds for business purposes?

Yes, the funds can be used for business expansion, working capital, or commercial property purchases. However, usage for speculation or real estate trading is prohibited.

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Why sell your property when you can leverage it? MyLoans provides 100% digital support, lifetime expert assistance, and guaranteed low-rate mapping for your Bank of Baroda LAP application. Experience high-value funding with zero hassles today.

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