The decision this page helps you make: is the rate you have been offered for a ₹5 crore+ LAP or LRD in line with what banks publish this month? Every figure below is copied from the lender’s own page, with the link and the date we checked it. Where a bank does not publish a rate, we say not published rather than guess. Bank names are listed for reference only. We do not lend money; the bank decides the rate and the loan.
Rates verified on against each lender’s or RBI’s own page. Next check: daily, and the same day after any RBI or bank rate change.
Edition: October 2026 · Full monthly refresh by 14 November 2026.
What are the benchmark rates this month?
| Benchmark | Rate | Effective | Source |
|---|---|---|---|
| RBI policy repo rate | 5.50% | 7 Oct 2026 | RBI MPC resolution |
| Bank of Baroda BRLLR | 8.15% | 8 Oct 2026 | BoB retail loan rates |
| Canara Bank RLLR | 8.25% | 9 Oct 2026 | Canara interest rate range |
| Indian Bank RBLR | 8.20% | 8 Oct 2026 | Indian Bank stock-exchange filing; was 7.95% |
| SBI one-year MCLR | 8.85% (was 8.70%) | 15 Oct 2026 | SBI MCLR |
| SBI EBLR | 8.15% + CRP + BSP (was 7.90% + CRP + BSP) | 15 Oct 2026 | SBI EBLR |
What LAP rates do banks publish in October 2026?
| Lender & product | Published rate or formula | Worked at current benchmark* | Source |
|---|---|---|---|
| SBI – Loan against mortgage of immovable property (individuals) | 1-yr MCLR + 1.60% (up to ₹1 Cr); + 2.10% (₹1–2 Cr); + 2.50% (₹2–5 Cr) | 10.45% / 10.95% / 11.35% | SBI LAP page (page dated 20 Sep 2025) |
| Bank of Baroda – Mortgage Loan (individuals, up to ₹7.5 Cr, up to 10 yrs) | BRLLR + SP + 0.75% to + 3.35% by risk rating; page shows 8.90%–11.50% | 9.15%–11.75% (BRLLR 8.15% + SP 0.25%) | BoB retail loan rates |
| Bank of Baroda – Mortgage Loan (non-individuals, up to ₹7.5 Cr) | BRLLR + SP + 1.05% (margin above 50%) / + 1.55% (margin up to 50%); page shows 9.20% / 9.70% | 9.45% / 9.95% | Same page |
| Canara Bank – Canara Mortgage | 9.30%–11.80% (range of contracted loans; mean 10.23%) | — (actual loans, not a card rate) | Canara interest rate range |
| Indian Bank – Ind Mortgage (term loan) | Up to ₹7.5 Cr: 9.20%–10.60%; above ₹7.5 Cr: 9.25%–11.10% | Page last modified 27 Oct 2026, after the 8 Oct RBLR change | Indian Bank loan rates |
| Indian Bank – Ind Mortgage (overdraft) | 10.20%–12.10% | As above | Same page |
| Karur Vysya Bank – KVB Mortgage Loan | Not published (bank states the rate is linked to credit score / rating) | — | KVB Mortgage Loan |
What LRD rates do banks publish in October 2026?
For how LRD pricing works and bank-by-bank notes, see LRD interest rates; to size a loan on your own lease, use the LRD eligibility calculator. Comparing LRD finance in Chennai on a leased office, showroom or warehouse? Our LRD loan in Chennai guide explains how lenders size it on net rent, lock-in and property value.
| Lender & product | Published rate or formula | Worked at current benchmark* | Source |
|---|---|---|---|
| Indian Bank – IB Rental / IB Rental (CRE) | 8.70%–10.70% / 9.20%–11.20%; 0.50% concession where the lessee is a bank, PSU, government body or an “A”-rated company or firm | Page last modified 27 Oct 2026 | Indian Bank loan rates |
| Indian Bank – IB Rent Encash | 9.00%–10.50% | As above | Same page |
| Canara Bank – Canara Rent | 9.50%–10.05% (range of contracted loans; mean 9.68%) | — | Canara interest rate range |
| Bank of Baroda – Loan against Future Rent Receivables (other landlords) | BRLLR + SP + 2.00% (up to 10 yrs) / + 2.25% (above 10 yrs); page shows 10.15% / 10.40% | 10.40% / 10.65% | BoB retail loan rates |
| SBI – lease rental discounting | Not published on the SBI rate pages checked | — | SBI interest rates |
| Axis Bank – Lease Rental Discounting | Not published (eligibility page only: up to 85% of NPV of rent or 50% of property value, whichever is lower) | — | Axis LRD eligibility |
| Karur Vysya Bank – KVB Rent Fin | Not published | — | KVB loans |
* “Worked at current benchmark” is our own arithmetic: the bank’s published spread added to the benchmark the same bank shows as current (for Bank of Baroda, BRLLR 8.15% plus the 0.25% strategic premium stated on its page; for SBI, the one-year MCLR of 8.85% effective 15 Oct 2026). Some bank product tables still show figures computed on the pre-hike benchmark. Your actual rate is set only by the lender, in its sanction letter and Key Facts Statement.
Did the October 2026 repo hike change LAP and LRD rates?
Yes, for loans priced on a repo-linked benchmark. RBI raised the policy repo rate by 25 bps to 5.50% on 7 October 2026, and banks passed it on from 8–9 October. SBI followed from 15 October 2026: EBLR 7.90% + CRP + BSP → 8.15% + CRP + BSP, RLLR 7.50% + CRP → 7.75% + CRP, and one-year MCLR 8.70% → 8.85%. If your existing LAP or LRD is repo-linked, the higher rate applies from your next reset; the spread in your sanction letter normally stays the same. MCLR-linked loans move only when the bank revises its MCLR and your reset date comes. Details: banks pass on the repo hike. Weighing a new lease-backed loan? See our guide to an LRD loan in Chennai.
Why do some banks show “not published”?
Several lenders price LAP and LRD case by case, by credit score, internal rating, tenant quality and ticket size, and do not publish a card rate. Aggregator sites often show older figures for these banks; we leave them out because they cannot be checked against the bank’s own page.
How is this tracker compiled?
- Read each lender’s official interest-rate page once a month (and after any RBI repo change).
- Record the figure exactly as published, the effective date the bank shows and the date we checked.
- Where the product rate is a benchmark plus spread, also show the arithmetic at the current benchmark, labelled as ours.
- Write “not published” where there is no public figure. No estimates, no aggregator figures.
Quoting this tracker? Please cite “JR Loan Advisors, Chennai property and rent loan rate tracker, October 2026” and link to this page.
Can JR Loan Advisors get me the lowest rate in the table?
No one can promise that, and we do not. Published ranges are wide because banks price by risk. The five file checks is how we prepare your file and choose one to three lenders whose policy and pricing fit it. We then read the sanction letter and Key Facts Statement with you before you sign. We work on requirements of ₹5 crore and above.
Reviewed 1 November 2026 by CA Jitendraa Rathi. Next review: 14 November 2026.
Written and reviewed by CA Jitendraa Rathi, Chartered Accountant (CA membership number 217936) · Ex-banker, 20 years of experience in credit and lending · LinkedInLast reviewed · Expert review: CA Jitendraa Rathi (ICAI 217936)
Frequently asked questions
What are LAP interest rates in Chennai in October 2026?
On the official bank pages checked on 1 November 2026, published Loan Against Property rates ran from about 8.90% (Bank of Baroda Mortgage Loan for individuals, lower end) to about 11.80% (top of Canara Mortgage’s contracted range). SBI’s formula works out to 10.45% to 11.35% by loan size at its one-year MCLR of 8.85% (effective 15 October 2026). Your rate depends on your risk profile, property and lender.
What are lease rental discounting (LRD) rates in October 2026?
Published figures checked on 1 November 2026: Indian Bank IB Rental / IB Rental (CRE) 8.70%–10.70% / 9.20%–11.20%, Canara Rent 9.50%–10.05% for contracted loans, and Bank of Baroda Loan against Future Rent Receivables at BRLLR + strategic premium + 2.00% for up to 10 years. Several banks do not publish an LRD rate.
Did the October 2026 repo hike change LAP and LRD rates?
Yes, for loans linked to a repo-based benchmark. RBI raised the repo rate to 5.50% on 7 October 2026. Bank of Baroda’s BRLLR moved to 8.15% and Canara Bank’s RLLR to 8.25%; SBI raised its EBLR to 8.15% + CRP + BSP and its one-year MCLR to 8.85% from 15 October 2026. Some bank product tables still show figures worked out on the old benchmark, so this tracker shows both the bank’s figure and the benchmark-based arithmetic.
Why do some banks show “not published”?
Some lenders, such as Karur Vysya Bank for its mortgage loan, state that the rate is linked to the borrower’s credit score or rating and do not publish a card rate. We do not estimate or copy figures from aggregator sites; where a bank does not publish a rate, the tracker says so.
How is this tracker compiled?
Each month we read the lenders’ own interest-rate pages, record the published figure, the effective date shown and the date we checked, and link the page. Where a product rate is stated as benchmark plus spread, we also show the arithmetic at the current benchmark, clearly labelled. Nothing here is a quote or offer.
Can JR Loan Advisors get me the lowest rate in the table?
No one can promise that. The rate is set only by the lender, in its sanction letter and Key Facts Statement. What we do is prepare your file and choose lenders whose policy and pricing fit your case, then read the sanction terms with you before you sign.