Loan Against Property (LAP)

loan against property in rural area
  • Avail loan by mortgaging your residential property.
  • Get loan of upto Rs 25 lakhs with maximum tenure of 15 years
  • Loans available fo the purpose of business, children's education, wedding or any other personal use
Loan Terms
Loan Amount Minimum Rs. 1 Lakh & Maximum Rs 25 lakhs
Tenor Maximum 15 Years
Interest Rate 14%* onwards
Processing Fee 2%+ GST of the loan amount
Prepayment Charges Nil.
Cheque Bounce Charges Rs. 500 + GST per event
Statement Charges Rs. 500 + GST (In case of hard copy is requested)
Late Payment Charges 2 % per month on the amount due
Document Retrieval Charges Rs. 500 per document or Rs. 1000 for all documents + GST
List of Documents (LOD) / Foreclosure Letter Charges LOD - Rs. 500 + GST Foreclosure Letter - Rs. 500 + GST
Incidental Charges for recovery of delayed payments At Actuals
Cheque Handling Charges Rs. 150 + GST per transaction (only for overdue collections)
Cash Handling Charges Rs. 300 + GST per transaction (only for overdue collections)
Loan to Value Maximum 50%
Security Equitable Mortgage (by deposit of title deeds) on the property being financed. A registered mortgage may be insisted upon wherever necessary.
Repayment Through customer's electronic standing instruction (NACH) for all Equated Monthly Installments (EMIs)
Other Conditions SMHFC will facilitate customers to take a mortgage redemption policy through SMHFC's tie up with HDFC Life. The exact insurance amount will depend on the age, loan amount & loan tenor.


  • What is a Loan Against Property (LAP)?

    It is a loan which is taken by mortgaging your self owned residential property. You can use this loan for any of your personal or business use. Existing Loan Against Property (LAP) from other banks or financial institutions can also be transferred to SMHFC.