A loan against property (LAP) login fee is a one-time, non-refundable charge from ₹2,500 to ₹25,000 or more, depending on the bank or non-banking financial company (NBFC) and the loan amount. This fee covers administrative and processing costs and is a common part of the application process, though some may call it an application or administrative fee.
Typical login fee range
Banks and NBFCs: The login or application fee can range from around ₹2,500 to ₹7,000.
Loan against property (LAP): Fees typically fall between ₹5,000 and ₹25,000, but can be higher depending on the lender and property.
Key details about the login fee
Non-refundable: This fee is paid upfront and is not returned, regardless of whether the loan is approved.
Administrative cost: It's used to cover the lender's administrative and processing costs for your application.
Varies by institution: The exact amount can differ significantly between banks and NBFCs. For example, ICICI Home Finance mentions fees of ₹7,000 or ₹10,000 depending on the property, while some banks may charge a percentage of the loan amount.
Separate from processing fees: Some institutions might have a separate processing fee in addition to the login fee.
Check specific lender: It is essential to check the specific terms and conditions of the bank or NBFC you are applying with, as the fees are not standardized. For instance, SBI Bank lists a processing fee that is a percentage of the loan amount.
