Loans Against Property by HDFC Bank

Features For HDFC Bank Loan Against Property

  • Higher loan amount available for longer tenure and at attractive rates.
  • Quick and hassle free loan with speedy approvals.
  • Residential and commercial properties accepted as collateral
  • Excellent debt consolidation tool.

 

Benefits of HDFC Bank Loan Against Property

  • Higher Loan amount with Lower EMI.
  • Funds can be used for business as well as personal needs.
  • Flexible repayment - Option to choose between Dropline Overdraft Facility or EMI based loan.
  • Specially designed programs for the Self Employed.
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Documents Required for HDFC Bank Loan Against Property

        If you have decided to expand your business or fund your personal requirements through a Loan against Property, we advise you to first check              eligibility criteria according to your employment status. If you are asalaried individual, you will require the following documents:

  • Your Proof of Residence - A ration Card / Telephone Bill / Electricity Bill / Voters Card will do.
  • Your Proof of Identity - A Voter's Card / Driver's License / Employer's Card will do.
  • Your latest Bank Statement / Passbook from where you can show a salary / income being credited from the past 6 months.
  • Your Salary Slip from the last 6 months with all deductions shown. A Form 16 from the last 2 years will also be required.
  • Copies of all Property Documents of the concerned property that you chose to pledge for the loan.
  •  

    If you are a self employed professional/individual, you will require the following documents:

  • Certified Financial Statement for the last 3 years.
  • Your Proof of Residence - A ration Card / Telephone Bill / Electricity Bill / Voters Card will do.
  • Your Proof of Identity - A Voter's Card / Driver's License / Employer's Card will do.
  • Your latest Bank Statement / Passbook from where you can show a salary / income being credited from the past 6 months.
  • Copies of all Property Documents of the concerned property that you chose to pledge for the loan.
  •  

Why take a Loan Against Property from HDFC Bank?

Whatever be your need we have a loan for you. Over the years we have won the trust of our customers and have become market leader in loan products. 

Enjoy triple benefits when you take a Loan Against Property from HDFC Bank:

  • Faster loan - Our loan sanction and disbursal is one of the quickest with easy documentation and doorstep service.
  • Competitive pricing – Our loan rates and charges are very attractive
  • Transparency – No hidden charges and clear communication on loan process Update about the status of loan application at each stage
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Loan Against Property Interest Rates & Charges of HDFC Bank 

Enclosed below are HDFC Bank Loan Against Property Interest Rates & Charges

Charges
Loan Against Property / Loan for Commercial Property
Loan Against Rent Receivables
Dropline Overdraft Against Property / Commercial OD against Property

Rack Interest Rate Range
Base rate + 2% 
to 
Base rate + 3.5%
Base rate + 2% 
to 
Base rate + 3.5%
Base rate + 2.75%
to 
Base rate + 4%

12.00% to 13.50%
12.00% to 13.50%
12.75% to 14.00%

Loan Processing Charges*
Maximum of  1% of loan amount
Maximum of  1% of loan amount
Maximum of  1% of loan amount

( * Minimum PF of Rs.7500/- )
 
 
 

Pre-payment charges 
- For Floating rateterm loans availed by individual borrowers - NIL**

- For Fixed rateterm loans andNon Individualborrowers : 

Post 6 months from the disbursement of Loan/Facility and upto 60 months -Maximum of 2.5% of the Principal Outstanding,

>60 months after the disbursementof the Loan/Facility – NIL 

(*Prepayment cannot be made until 6 months of repayment. ** This is NOT applicable for Floating rateTerm loans availed by Individual borrowers)
 
- For Floating rateterm loans availed by individual borrowers - NIL**

- For Fixed rateterm loans andNon Individualborrowers : 

Post 6 months from the disbursement of Loan/Facility and upto 60 months -Maximum of 2.5% of the Principal Outstanding,

>60 months after the disbursementof the Loan/Facility –NIL

(*Prepayment cannot be made until 6 months of repayment ** This is NOT applicable for Floating rateTerm loans availed by Individual borrowers)
Maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months of the date of disbursement.

Post 12 months maximum of 2% of the operating limit prevailing at the time of prepayment .

(* prepayment cannot be made 6 months from disbursement)

Part prepayment charges for Loans
- For Floating rate term loans availed by individual borrowers - NIL**

- For Fixed rate term loans andNon Individual borrowers -
No pre-payment charge upto a maximum of 25% of your outstanding loan, once every financial year.

Part pre-payment cannot be made until six months of repayment. ** This is NOT applicable for Floating rateTerm loans availed by Individual borrowers)
For Floating rateterm loans availed by individual borrowers - NIL**

- For Fixed rate term loans andNon Individual borrowers -
No pre-payment charge upto a maximum of 25% of your outstanding loan, once every financial year.

Part pre-payment cannot be made until six months of repayment. ** This is NOT applicable for Floating rateTerm loans availed by Individual borrowers)
NA

Charges for late payment of EMI
2 % per month on overdue EMI amount
2 % per month on overdue EMI amount
NA

Interest Charged on Over utilized amount for Drop Line Overdraft
NA
NA
18% per annum on the amount utilized above the available credit limit

Stamp Duty & other statutory charges 
As per applicable laws of the state
As per applicable laws of the state
As per applicable laws of the state

Bounce Cheque Charges
 Rs 550/-
 Rs 550/-
 Rs 550/-

Repayment schedule charges
Rs. 200/- per schedule
Rs. 200/- per schedule
Rs. 200/- per schedule

Cheque / SI / ECSswapping charges
Rs. 500/-
Rs. 500/-
Rs. 500/-

Legal/Repossession & Incidental charges 
At actuals
At actuals
At actuals

Account Maintainance Charges
NA
NIL
From 10 lacs of Limit to 50 lacs of Limit -Maximum upto Rs 3000/- Above 50 lacs of Limit Maximum upto Rs 5000/-

Commitment charges for overdraft accounts (*Minimum charges Rs 5000/-)
NA
NA
If average quarterly utilization > 30% No commitment fee charges to be charged. If average quarterly utilization < 30% Charges upto 0.10% will be charged on the difference between the actual utilization and expected average utilization of 30%. Charges to be levied quarterly.

Charges for Switch-over from BPLR linked loans to Base rate linked loans
(for existing customers)
Nil
Nil
Nil

Charges for switch over from Fixed Interest rate linked loans to Base Rate linked loans (for existing customers)
Nil
Nil
Nil

Bank IRR
Annual Percentage Rate (APR)

Min IRR
Max IRR
Avg IRR
Min APR
Max APR

10.00%
13.50%
11.84%
10.04%
13.62%

Note:The above charges are exclusive of taxes and statutory levies as applicable from time to time. The above charges are the maximum charges applicable for each type of charge. 

The Bank reserves the right to vary any of the above charges from time to time with due intimation to the customer. Revised Charges will be communicated to the customer through Banks website and/or by any other acceptable mode of communication

 

Already have a Loan Against Property?

  • You may contact our Retail Asset Customer Service Centre for any queries related to your Loan Against Property
  • A visit to the nearest HDFC Bank branch will acquaint you with our latest offers
  • If you are self-employed, you can get exclusive schemes and offers.
  •  

Have questions about HDFC Bank Loan Against Property ?

How can I make a request to foreclose my Loan Against Property account?

Kindly submit a written request to your nearest Retail Loan Service Centre to close your account. Our customer service desk will provide you with the necessary assistance.

What are the charges I need to pay to foreclose my loan?

The loan can be repaid through a Standing Instruction (to debit your HDFC Bank Escrow account for repayment of EMIs).

 

How do I apply for a Loan Against Property (LAP)?

You can apply for a loan in the following ways:

  • Fill in the online application form and our representative will get in touch with you
  • Call one of our PhoneBanking numbers provided on the website
  • Visit your nearest branch
  • Our existing liability customers may also get in touch with their Relationship Managers/ Personal Bankers to know more and apply for LAP
  •  

What Property can be considered as collateral for LAP?

You can provide your self-occupied Residential or Commercial property (Shops and Offices) as collateral.

 

What is the maximum loan I can get against my Property?

You can get a Loan Against Property up to a maximum of 60%* of the market value of your property.

About

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of RBI’s liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

HDFC Bank’s mission is to be a World Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank’s risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank’s business philosophy is based on five core values: Operational Excellence, Customer Focus, Product Leadership, People and Sustainability.

 

Loan Against property lets you unlock the full potential of your property, and use it to build a bigger life for yourself. Whether your property is residential, industrial or commercial, a loan against property will ensure maximum finance, taking care of your unique needs as either a salaried or self-employed individual. At My Loan Partner, we help to unlock the wealth in our client's real estate assets.

Your loan application is now a very simple process as never before and we will get your loan approved asap.

We have multiple options of financial institutions to provide various types of financial services to our esteemed customers at their doorsteps at competitive rates.

We are thus providing a list of documents which are required from your side to get your loan approved from the respective banks and financial institutions.

List of documents for Salaried persons
. Proof of Identity:- Passport/Driving Licence/Voters ID/PAN Card(any one).
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Latest 3 months Bank Statement(where salary/income is credited).
. Salary slips for last 3 months.
. 2 Passport Size Photographs.

List of documents for Self-Employed
. KYC Documents:- Proof of Identity;Address proof;DOB proof.
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Income proof(audited financials for the last two years).
. Latest 6 months Bank statement.
. Office address proof.
. Proof of residence or office ownership.
. Proof of continuity of business.

Interested? Please leave your details and we will contact you soon