Lakshmi Vilas Loan Against Property Interest Rate Calculator - Dec 2016

Lakshmi Vilas Bank Loan Against Property Interest Rates

Last Updated 06th Dec 2016
Interest Rate 12.50% - 12.50%
Check Special Offers
Lowest EMI Rs. 1,464 per lakh
Max Tenure 10 years
Processing Fee Upto 1.20%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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Lakshmi Vilas Bank Loan Against Property

Lakshmi Vilas Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 60% of the market’s value for tenure of 18 years.

Loan Against Property Lakshmi Vilas

Loan Against Property interest rates offered by Lakshmi Vilas Bank depends upon MCLR
  • Floating rates changes with a single change in Lakshmi Vilas Bank MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Lakshmi Vilas Bank offers Property Loan based on 1 Year MCLR which is currently 10.25%
Lakshmi Vilas Bank mortgage loan interest rate depends upon
  • Loan amount: Lakshmi Vilas Bank mortgage loan rate depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Lakshmi Vilas Bank has a list of companies to which they lend Loan Against Property. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Lakshmi Vilas Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Loan Against Property Charges

Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Lakshmi Vilas Bank allows prepayment of loan against property with Nil prepayment charges
Processing Fee - Lakshmi Vilas Bank asks for a processing fee of 1.20% of loan amount with applicable service tax

Lakshmi Vilas Loan Against Property EMI Calculator

Loan Against Property EMI of Lakshmi Vilas Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • Lakshmi Vilas Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Lakshmi Vilas Loan Against Property EMI?
  • Lakshmi Vilas Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • Lakshmi Vilas Bank EMI calculator for Loan Against Property helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Lakshmi Vilas Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria Lakshmi Vilas Bank
Eligibility of Loan Against Property in Lakshmi Vilas Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Lakshmi Vilas Bank offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: Lakshmi Vilas Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. Lakshmi Vilas Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. Lakshmi Vilas Bank gives maximum LTV of 60% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. Lakshmi Vilas Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. Lakshmi Vilas Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, Lakshmi Vilas Bank gives you a maximum tenure of 18 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over 1 Year MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
Estimated eligibility online by using Eligibility Calculator.
Popular Products:
  • Loan Against Property for Residential Use
  • Property Mortgage Loan for Commercial Use

Lakshmi Vilas Bank Floating Rate Loan Against Property

Lakshmi Vilas Bank Loan Against Property Floating
Upto Rs. 3,000,000 - 12.50%
Rs. 3,000,001 - 7,500,000 - 12.50%
Rs. 7,500,001 - 10,000,000 - 12.50%
Above Rs. 10,000,000 - 12.50% linked to 1 Year MCLR

Lakshmi Vilas Bank Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to Lakshmi Vilas Bank?
Lakshmi Vilas Bank offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of Lakshmi Vilas Bank
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property Lakshmi Vilas documents required

Loan Against Property for Salaried employee Lakshmi Vilas Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

Loan Against Property for Self-Employed Lakshmi Vilas Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

Property documents for Loan Against Property from Lakshmi Vilas Bank

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation
Past trends of MCLR of Lakshmi Vilas Bank
Date MCLR
19th Oct 16 10.50%
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
08th Feb 16 10.55% decreased by 0.15%
03rd Nov 15 10.70% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
01st Jul 15 10.95% decreased by 0.15%
02nd Jun 15: 0.25% repo cut by RBI
16th Apr 15 11.10% decreased by 0.15%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
23rd Aug 13 11.25% increased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
29th Nov 11 11.00% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
08th Aug 11 10.75% decreased by 0.15%
01st Aug 11 10.90% increased by 0.4%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
03rd Jun 11 10.50% increased by 0.5%
09th May 11 10.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
05th Feb 11 9.50% increased by 0.25%
25th Jan 11: 0.25% repo hike by RBI
01st Jan 11 9.25% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.75%

Lakshmi Vilas MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in Lakshmi Vilas ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from Lakshmi Vilas Bank and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to Lakshmi Vilas Bank and other banks and all EMI's have been paid. Note that Lakshmi Vilas Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to Lakshmi Vilas Bank in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will Lakshmi Vilas mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on Lakshmi Vilas Bank property loan is linked to its 1 Year MCLR, which is currently 10.25%. So, when Lakshmi Vilas Bank offers a loan against property at 12.50%, it applies a 2.25% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of Lakshmi Vilas Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on Lakshmi Vilas loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.

Lakshmi Vilas Bank Loan Against Property in India

Lakshmi Vilas Bank Loan Against Property Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1800-425-2233
Ahmedabad 1800-425-2233
Ambala 1800-425-2233
Anand 1800-425-2233
Aurangabad 1800-425-2233
Bangalore 1800-425-2233
Bhilai 1800-425-2233
Bhilwara 1800-425-2233
Bhiwadi 1800-425-2233
Bhopal 1800-425-2233
Bhubaneswar Cuttack 1800-425-2233
Bikaner 1800-425-2233
Chandigarh 1800-425-2233
Chennai 1800-425-2233
Cochin 1800-425-2233
Coimbatore 1800-425-2233
Dehradun 1800-425-2233
Delhi 1800-425-2233
Durg 1800-425-2233
Faridabad 1800-425-2233
Gandhinagar 1800-425-2233
Ghaziabad 1800-425-2233
Goa 1800-425-2233
Greater Noida 1800-425-2233
Gurgaon 1800-425-2233
Guwahati 1800-425-2233
Gwalior 1800-425-2233
Hyderabad 1800-425-2233
Indore 1800-425-2233
Jabalpur 1800-425-2233
Jaipur 1800-425-2233
Jalandhar 1800-425-2233
Jodhpur 1800-425-2233
Kanpur 1800-425-2233
Karnal 1800-425-2233
Kolhapur 1800-425-2233
Kolkata 1800-425-2233
Kota 1800-425-2233
Kozhikode 1800-425-2233
Lucknow 1800-425-2233
Ludhiana 1800-425-2233
Madurai 1800-425-2233
Meerut 1800-425-2233
Mehsana 1800-425-2233
Mohali Sas Nagar 1800-425-2233
Mumbai 1800-425-2233
Mussoorie 1800-425-2233
Nagpur 1800-425-2233
Nashik 1800-425-2233
Noida 1800-425-2233
Noida Extn. 1800-425-2233
Panipat 1800-425-2233
Patna 1800-425-2233
Pondicherry 1800-425-2233
Pune 1800-425-2233
Raipur 1800-425-2233
Rajkot 1800-425-2233
Ranchi 1800-425-2233
Rohtak 1800-425-2233
Roorkee 1800-425-2233
Salem 1800-425-2233
Shimla 1800-425-2233
Sonepat 1800-425-2233
Surat 1800-425-2233
Trichy 1800-425-2233
Udaipur 1800-425-2233
Vadodara 1800-425-2233
Varanasi 1800-425-2233
Vijaywada 1800-425-2233
Vizag 1800-425-2233
Lakshmi Vilas Loan Against Property News - Dec 2016
20th Jul 16 Lakshmi Vilas Bank Q1 net jumps 50 per cent to Rs 61 crore
Lakshmi Vilas Bank has reported a net profit of over 50 per cent at Rs 60.68 crore in the June quarter of FY17. Total income of the bank in the June Quarter increased to Rs 774.87 crore from Rs 693.05 crore in the same period of previous year. Gross NPAs as a percentage to Total Advances decreased to 2.14 per cent. Net NPAs decreased to 1.3 per cent of the Net Advances as against 1.72 per cent in the same period of previous fiscal. Thus, the provision towards bad loans was also reduced to Rs 35.15 crore June quarter of FY17 as against Rs 50.31 crore in the same period of previous year.
28th Apr 16 Lakshmi Vilas Bank Q4 profit up 22.5% on retail, SME growth
Lakshmi Vilas Bank saw its Q4 profit grow 22.5% to Rs 49.07 crore from strength in its retail and SME lending. The commercial lender Q4 net income increased 14.3% to Rs 758.84 crore from Rs 663.97 crore for the same period last year. The bank is seeing lending opportunities in the pharma and real estate sector. And they are looking at broadening the scope of their agricultural loans. The only possible areas of improvement bank can see are with regard to their CASA deposits and their net interest income.
29th Jan 16 Lakshmi Vilas Bank launches LVB Mobile app
LVB launched its mobile app to tap the digital banking space and diversify its offerings. The bank also inaugurated its first cash deposit machine at Global Village campus in Bengaluru
28th Jan 16 Lakshmi Vilas Bank Q3FY16 standalone net profit rises 42 per cent
LVB reported net profit of Rs. 46.07 Cr for the quarter ended December 2015 on fall in bad loans and healthy revenue from retail and corporate banking segments.
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