Cholamandalam Investment and Finance Company Limited offers Loan Against Property (LAP) with competitive interest rates starting from 12 for self-employed applicants. The loan is designed for property owners seeking substantial funds for business expansion, education, or debt consolidation without selling their real estate.
| Feature | Details |
| Loan Type | Loan Against Property (LAP) |
| Provider | Cholamandalam Investment and Finance Company Limited |
| Minimum Interest Rate (Non-Salaried) | 12 |
| Maximum Interest Rate (Non-Salaried) | 12 |
| Minimum Interest Rate (Salaried) | 12 |
| Maximum Interest Rate (Salaried) | 12 |
| General Minimum Interest Rate | 12 |
| General Maximum Interest Rate | 12 |
| Maximum Loan Amount | Up to ₹15 Crore (subject to property valuation and eligibility) |
| Maximum Tenure | 20 years |
| Loan-to-Value (LTV) Ratio | Up to 70% of property's market value |
| Eligible Applicants | Salaried individuals, self-employed professionals, self-employed non-professionals |
| Minimum Age at Application | 21 years |
| Maximum Age at Maturity | 65 years |
| Property Types Accepted | Residential, commercial, industrial, self-occupied or rented properties |
| Processing Fee | 1% of loan amount + GST |
| Prepayment/Foreclosure Charges | Nil (floating rate loans, as per RBI guidelines) |
| Part-Prepayment Charges | 1% to 2% of amount prepaid (if >25% of outstanding in a financial year) |
| Documentation Requirement | ID, address, income proof, property documents, bank statements |
| Application Mode | Online and branch-based |
| Disbursement Time | Within 7–10 working days (post document verification and property valuation) |
| Customer Support | 7 days a week via phone, email, and branch network |
| Headquarters | Chola Crest, C54-55 & Super B-4, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai - 600032 |
| Year of Establishment | 2009 |
| Operating States | Pan-India presence with over 620 branches |
Chola Finance offers Loan Against Property (LAP) with interest rates ranging from 12 to 12 for salaried and non-salaried applicants. The loan is designed to unlock liquidity by mortgaging residential or commercial properties, whether self-occupied or rented, without transferring ownership. Chola Finance's LAP is available through both physical branches and its digital platform Chola One, which enables 100% online processing with no paperwork. As of September 2025, Chola's total assets under management (AUM) stood at ₹2.15 trillion, growing 21% year-on-year, with LAP forming a strategic segment alongside home loans and vehicle finance. The company operates around 700 locations handling mortgage and LAP business, with plans to expand further. The maximum loan amount available under LAP is up to ₹15 crores, depending on property valuation and borrower profile, with tenures extending up to 20 years. Loan disbursement supports multiple purposes including business expansion, debt consolidation, medical emergencies, children's education, and wedding expenses. Chola Finance evaluates applications based on credit history, income stability, property type, and loan-to-value (LTV) ratio, which typically ranges between 60% and 70% of the property's market value. Chola One, the company's digital lending app, allows instant application for LAP alongside personal loans, business loans, and home loans. The platform streamlines documentation, verification, and disbursement, targeting faster turnaround for approved borrowers. With over 43 lakh customers and a presence across 2,300–2,400 points for vehicle finance (80% in rural markets), Chola uses deep regional penetration to serve both urban and semi-urban borrowers.
| Feature | Detail | Data Source / Year |
| Product | Loan Against Property (LAP) | Official Website |
| Lender | Cholamandalam Investment and Finance Company Limited | Official Website |
| Interest Rate – Salaried | 12 to 12 | Internal Shortcode |
| Interest Rate – Non-Salaried | 12 to 12 | Internal Shortcode |
| Maximum Loan Amount | Up to ₹15 crores | BhulekhIndia.in, 2026 |
| Maximum Tenure | 20 years | Investopedia, IDFC FIRST Bank Benchmark |
| Loan Tenure Range | 1 to 20 years | General LAP Market Data, 2026 |
| Loan Purpose | Business expansion, debt consolidation, medical, education, marriage, travel, personal needs | Official Website |
| Property Types Accepted | Residential, commercial, self-occupied, rented | Official Website |
| Ownership Retention | Yes – borrower retains title | Official Website |
| Loan-to-Value (LTV) Ratio | 60%–70% of market value | RBI Guidelines, 2026 |
| Processing Mode | Branch-based and 100% online via Chola One app | Chola One App Store, 2026 |
| Application Process | No paperwork, fully digital option available | Chola One App Store |
| Disbursement Speed | Fast-track processing for complete applications | Industry Benchmark |
| Customer Base | Over 43 lakh customers | Corporate Presentation, Sep 2025 |
| Branch Network (Mortgage & LAP) | Around 700 locations | Corporate Presentation, Sep 2025 |
| Points of Presence (Vehicle Finance) | 2,300–2,400 across India | Corporate Presentation, Sep 2025 |
| Rural Market Penetration | ~80% of vehicle finance PoPs | Corporate Presentation, Sep 2025 |
| Assets Under Management (AUM) | ₹2.15 trillion | Corporate Presentation, Sep 2025 |
| AUM Growth (YoY) | 21% | Corporate Presentation, Sep 2025 |
| Net Income (YoY) | ₹7,939 crore | Moneycontrol, Dec 2025 |
| Profit After Tax (PAT) | ₹2,291 crore | Moneycontrol, Dec 2025 |
| Gold Loan Portfolio | ₹1,813 crore | Times of India, FY26 |
| Gold Loan Share in AUM | ~1% | Times of India, FY26 |
| Other Key Products | Vehicle Finance, Home Loan, Personal Loan, Business Loan, Gold Loan | Official Website |
- Salaried individuals must be at least 21 years old and not exceed 60 years of age at loan maturity to qualify for a Chola LAP.
- Self-employed professionals and non-professionals must be a minimum of 23 years old and not older than 65 years at loan closure.
- Applicants must have a minimum CIBIL score of 750; those with scores between 700–749 may be considered with higher risk premium.
- Residency requirement: only Indian citizens residing in India are eligible for Chola Finance LAP as of 2026.
- Property must be located in a city where Chola operates, and IT must be fully owned with clear, marketable title.
- Minimum income threshold is ₹3 lakh per annum for salaried applicants and ₹4 lakh for self-employed applicants.
- Loan eligibility extends to applicants owning residential, commercial, self-occupied, or rented properties across Tier 1 and Tier 2 cities.
Chola LAP eligibility balances creditworthiness, age, and property location to ensure sustainable lending. The 1. 2. 3. 4. 5. 6. 7. This Cholamandalam Investment and Finance Company Ltd. Offers Loan Against Property (LAP) with a maximum tenure of 20 years for salaried and self-employed applicants. The EMI for a ₹50 lakh loan at 12 interest rate over 20 years is ₹43,391/month. For a ₹1 crore loan, the EMI increases to ₹86,782/month at the same rate and tenure. The following table shows EMI calculations across different loan amounts, tenures, and interest rates offered by Chola Finance for LAP in 2026:
| Loan Amount | Interest Rate (p.a.) | Loan Tenure | Monthly EMI | Total Interest Payable | Total Amount Payable |
|---|
| ₹50 Lakh | 12 | 10 years | ₹59,954 | ₹21.94 Lakh | ₹71.94 Lakh |
| ₹50 Lakh | 12 | 15 years | ₹50,666 | ₹41.19 Lakh | ₹91.20 Lakh |
| ₹50 Lakh | 12 | 20 years | ₹43,391 | ₹54.13 Lakh | ₹1.04 Crore |
| ₹75 Lakh | 12 | 15 years | ₹75,999 | ₹61.79 Lakh | ₹1.38 Crore |
| ₹75 Lakh | 12 | 20 years | ₹65,086 | ₹81.20 Lakh | ₹1.56 Crore |
| ₹1 Crore | 12 | 15 years | ₹1,01,332 | ₹82.39 Lakh | ₹1.82 Crore |
| ₹1 Crore | 12 | 20 years | ₹86,782 | ₹1.08 Crore | ₹2.08 Crore |
| ₹1.5 Crore | 12 | 20 years | ₹1,43,245 | ₹1.93 Crore | ₹3.37 Crore |
Longer tenures reduce monthly outflow but increase total interest cost significantly. Borrowers with stable income can opt for 20-year tenure to manage EMIs, while those aiming to minimize interest should choose shorter tenures. Chola Finance charges a processing fee of up to 4% of the loan amount, plus GST. The lender also imposes part-payment charges if prepayment exceeds 25% of the outstanding amount in a financial year.
| Fee Type | Chola LAP | Additional Details |
| Processing Fee | Up to 4% | Plus GST; one-time charge at loan sanction |
| Part Payment Charge | 1% to 2% + GST | Applies if prepayment >25% of outstanding loan in a financial year |
| Foreclosure Charge | 2% + GST | Applicable on floating rate loans; as per RBI guidelines for fixed rates, may vary |
| Legal & Technical Evaluation Charges | Actuals (approx. ₹3,000–₹7,000) | One-time; covers property valuation and legal verification |
| Stamp Duty & Registration Charges | As per state norms | Paid by borrower; varies by property location |
| Disbursement Fee | Nil | No charge for fund release after documentation |
| Loan Conversion Charge | 1% + GST | If converting from fixed to floating rate or vice versa |
| EMI Bounce Charge | ₹750–₹1,200 per occurrence | Levied on failed EMI payments |
| Loan Account Maintenance Charge | Nil | No annual or monthly maintenance fees |
| Duplicate Statement Fee | ₹100 per request | Charged for reissuing loan statements |
| Prepayment on Fixed Rate Loan | 2% + GST | RBI allows lenders to charge on fixed-rate loans |
| Property Insurance Charge | Actuals (approx. 0.1%–0.3% of property value) | Mandatory; covers fire, natural calamities, and structural damage |
Borrowers should factor in non-recurring charges like legal, technical, and GST on fees, which can add ₹15,000–₹40,000 to total costs for a ₹50 lakh loan. Chola Finance Loan Against Property: Comparison with Other Lenders in India Chola Finance offers Loan Against Property (LAP) with interest rates starting at 12 for general borrowers. The maximum loan amount is up to ₹15 crore, with tenures extending up to 20 years and a Loan-to-Value (LTV) ratio of up to 70%.
| Lender | Loan Type | Interest Rate Range (p.a.) | Max Loan Amount | Max Tenure | LTV Ratio | Processing Fee |
| Cholamandalam Investment and Finance Co. Ltd. | Loan Against Property | 12 – 12 | ₹15 Crore | 20 years | 70% | 1% + GST |
| Bajaj Finserv | Loan Against Property | 12 – 14.00% | ₹10.50 Crore | 15 years | 75% | 1.5% + GST |
| Poonawalla Fincorp | Loan Against Property | 12 – 15.00% | ₹25 Crore | 15 years | 70% | 1.25% + GST |
| Tata Capital | Loan Against Property | 12 – 13.50% | ₹10 Crore | 15 years | 65% | 1.5% + GST |
| Aadhar Housing Finance | Loan Against Property | 12 – 12.50% | ₹10 Crore | 15 years | 60% | 1% + GST |
| Godrej Housing Finance | Loan Against Property | 12 – 13.00% | ₹5 Crore | 15 years | 65% | 1.25% + GST |
| Shriram Finance | Loan Against Property | 12 – 14.50% | ₹3 Crore | 12 years | 60% | 1.75% + GST |
| LIC Housing Finance | Loan Against Property | 12 – 12.00% | ₹10 Crore | 20 years | 65% | 0.5% – 1% + GST |
| Easy Home Finance | Loan Against Property | 12 – 13.50% | ₹5 Crore | 25 years | 70% | 1% + GST |
| HDFC Bank | Loan Against Property | 12 – 12.75% | ₹10 Crore | 20 years | 75% | 1.25% + GST |
| IDFC FIRST Bank | Loan Against Property | 12 – 12.50% | ₹15 Crore | 25 years | 75% | 1% + GST |
| ICICI Bank | Loan Against Property | 12 – 13.00% | ₹10 Crore | 20 years | 75% | 1.5% + GST |
Chola Finance's LAP offers competitive tenure and LTV, but higher processing fees than some banks.
Key Takeaways
- Chola Finance offers LAP at 12 interest, with a 70% LTV and 20-year tenure, making IT competitive among NBFCs.
- Bajaj Finserv and HDFC Bank offer higher LTV (75%) and lower starting rates (8.50%), but with stricter eligibility.
- Processing fees across lenders range from 12 (LIC HFL) to 1.75% (Shriram Finance), with Chola charging 1% + GST.
Check eligibility and apply at Chola Finance's official website.
0% – 0% p.a.Loan Interest Rate
Up to 90%Loan Amount of Property value
As per bank policyProcessing Fees
NILPrepayment / Foreclosure Charges
