Urban Money

HDFC Bank Loan Against Property

HDFC Bank
4.5

HDFC Bank provides a loan for 65% of your property'ss value so that you can finance your planned needs like children'ss education, a family wedding, or home renovation. HDFC Loan Against Property interest rates are attractive and feasible so that the loan does not feel like a burden. You can borrow against commercial or rental property and choose from an EMI based term loan or drop line overdraft loan according to your convenience.

  • HDFC Bank
  • Loan Against Property
Loan Amount:₹49L - ₹5Cr
Interest Rate:7.5% - 10.3%
Processing Fee: Up to 1%
Tenure:15 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
HDFC Bank

7.5% - 10.3%

Up to 1%

₹49L - ₹5Cr

Tenure(Up to 15 Years)

Details

Benefits and Features of HDFC Loan Against Property

You will be benefited from the following features if you apply for HDFC Loan Against Property.

High Amount of Loans

With HDFC Bank you can avail of a loan of up to 65% of the property’s market value. These high loan amounts are accompanied by flexible and long repayment tenures along with alluring interest rates.

Customised Loan

HDFC Bank accepts both commercial and residential properties as collateral. The money received through HDFC Bank’s Loan Against Property can also be used for various business or personal purposes. 

Easy Repayments

You have an option of a Dropline Overdraft Facility or can repay the loan amount in low EMIs with the help of competitive interest rates. 

Transparent Processing

All the charges are communicated at the time of loan disbursement. There are no hidden charges that you would not be aware of. 

Efficient Services

You can apply for HDFC Loan Against Property easily through quick and efficient services. HDFC Bank provides doorstep services for your convenience.

Advantages for Self Employed

HDFC Bank offers specialised and designed programmes along with customised loan options to the self-employed individuals applying for loans.

Debt Consolidation

HDFC Loan Against Property acts as a brilliant debt consolidation tool.

HDFC Loan Against Property Overview

HDFC Bank provides a loan for 65% of your property’s value so that you can finance your planned needs like children’s education, a family wedding, or home renovation. HDFC Loan Against Property interest rates are attractive and feasible so that the loan does not feel like a burden. 

You can borrow against commercial or rental property and choose from an EMI-based term loan or drop-line overdraft loan according to your convenience.

Banks and financial institutions offer a secured loan that is sanctioned based on the property pledged as collateral. HDFC Bank is one of the leading banks to offer this loan with pocket-friendly interest rates. Apply for HDFC Loan Against Property with a hassle-free application process.

Eligibility Criteria to Apply for HDFC Loan Against Property

These individuals can fulfil the HDFC Loan Against Property eligibility criteria:

  • Salaried individuals working in private or government offices.
  • Self-employed individuals who are engaged in various business activities. HDFC Bank offers special schemes and offers for self-employed individuals.

HDFC Loan Against Property Fees and Charges

Have a look at the table below to learn about the charges for HDFC Bank’s Loan Against Property.

Basic Charges

Fees Loan for commercial property/Loan Against Property Dropline Overdraft Against Property Loan Against Rent Receivables (LARR)
Rack Interest Rate Range Policy Repo Rate* + 4%- 4.95% = 8.00%-8.95% *Policy Repo Rate- 4% Policy Repo Rate* + 4%- 4.95% = 8.00%-8.95% *Policy Repo Rate- 4% Policy Repo Rate* + 4%- 4.95% = 8.00%-8.95% *Policy Repo Rate- 4%
Loan Processing Charges Maximum limit of 1% of the loan amount (* Minimum PF of ₹7500/-) Maximum limit of 1% of the loan amount (* Minimum PF of ₹7500/-) Maximum limit of 1% of the loan amount (* Minimum PF of ₹7500/-)
 

Foreclosure/Pre-payment Charges

 
Fees Loan for commercial property/Loan Against Property Dropline Overdraft Against Property Loan Against Rent Receivables (LARR)
Term loan with floating interest rate availed by Individual applicants for Business Purpose 2.5 % of the Principal Outstanding amount 60 months after the disbursement of the Loan/Facility – No Charges Maximum 4% of the operating limit prevailing at the time of prepayment within 12 months of the date of disbursement. After 12 months, maximum 2% of the operating limit prevailing at the time of prepayment .  2.5 % of the Principal Outstanding amount 60 months after the disbursement of the Loan/Facility – No Charges
Term loan with floating interest rate availed by Individual applicants for End Use applications apart from Business Purpose  NIL Maximum 4% of the operating limit prevailing at the time of prepayment within 12 months of the date of disbursement. After 12 months, a maximum of 2% of the operating limit prevailing at the time of prepayment . NIL
Floating rate term loans availed by MSMEs and Closure from Own Source NIL NIL NA
Floating rate term loans availed by MSMEs and Closure from borrowed funds 2% of the Principal Outstanding amount 60 months after the disbursement of the loan/facility – No Charges 2% of the operating limit amount prevailing at the time of prepayment. NA
Floating Rate term loans which have been availed by Non Individual borrowers* *Prepayment is not permitted until 6 months of repayment for non individual borrowers. 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 disbursement of the loan/facility – No Charges Maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months of the date of disbursement. After 12 months, a maximum of 2% of the operating limit prevailing at the time of prepayment . Post 6 months from the disbursement of loan/facility and upto 60 months -Maximum of 2.5% of the principal outstanding. No charges will be levied after 60 months of facility/loan disbursement 
Part prepayment charges for loans *Part pre-payment cannot be made until 6 months of repayment in case of Non-Individual borrowers. No prepayment charge upto a maximum of 25% of outstanding loan, once every financial year. If the amount being prepaid is more than 25%, then the charges shall be applicable on the entire amount being prepaid and not only on the amount in excess of said 25%. No prepayment charges will be charged for the prepayment after 60 months after the date of last disbursement of the loan. NA No prepayment charge upto a maximum of 25% of outstanding loan, once every financial year. If the amount being prepaid is more than 25% then the charges shall be applicable on the entire amount being prepaid and not only on the amount in excess of said 25%. No prepayment charges will be charged for prepayment after 60 months after the date of last disbursement of the loan.
Charges for late payment of EMI 2% per month on overdue EMI amount NA 2% per month on overdue EMI amount
Interest Charged for over utilised amount for Dropline Overdraft NA 18% per annum on the amount utilised above the available credit limit NA
Account Maintenance Charges (AMC) NA ₹5000 annually  NA
Commitment charges on the overdraft accounts (*Minimum charges are Rs 5000/-) NA If average quarterly utilisation is > 30%, no commitment fee will be charged. If average quarterly utilisation < 30% charges upto 0.10% will be levied on the difference between the actual utilisation and expected average utilisation of 30%. Charges to be levied quarterly NA
Penal Interest charged for Non Adherence of ESCROW Account (according to sanction conditions and terms) NIL NIL 2% per annum additional on existing ROI.
Interest Charged on over utilised amount for Drop Line Overdraft NA NA 18% per annum on the amount utilised above the available credit limit
 
Fees All Categories
Stamp Duty and other statutory charges Based on the laws valid in the particular state
EMI/Cheque Bounce Charges 1st return at Rs.450 + taxes  2nd at Rs.500 + taxes  and 3rd onwards Rs.550 + taxes  (10% discount for Senior Citizens)
Repayment schedule charges ₹200 per schedule
Cheque/ECS/SI/NACH swapping charges ₹500
Repossession/Legal and Incidental charges At actuals
Conversion charges for change in reference rate (BPLR/ Base rate/MCLR to Policy Repo Rate (for existing customers) NIL
Property Document Retention charges ₹1000 per calendar month, after 2 calendar months from date of closure of all loans/facilities linked to the collateral
Revision in spread 0.1% of Principal Outstanding OR Rs. 5000 whichever is higher per proposal
Penal Interest charged for not complying with the submission of the required deferral documents 2% p.a. additional on existing ROI
Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) charges ₹500/customer
Property Swapping / Partial Property Release 0.1% of the loan amount, Minimum Rs. 10,000
Document retrieval charges post disbursement ₹500/document
Bounce Cheque Charges ₹550 + GST
Penal Interest charged for not complying with the submission of the required deferral documents- >90 DPD 2% additional on existing ROI

HDFC Loan Against Property Interest Rates

The interest rates for Loan Against Property vary for different categories. 

Policy Repo Rate* + 4% to 4.95%= 8.00% to 8.95%

*Policy Repo Rate- 4%

Documents required for HDFC Loan Against Property

For salaried individuals

  • Residence proof (a copy of any of the following)
    • Ration card
    • Telephone bill
    • Electricity bill
    • Voter's ID Card
  • Identity proof (a copy of any of the following)
    • Voter's ID card
    • Employer's card
  • Passbook for proof of salary or income for the last 6 months/latest bank statement
  • Salary slip for the preceding 6 months showing all the deductions
  • Form 16 for the last 2 years
  • The copies of all property documents of the property which is being pledged for the loan

For individuals/self-employed professionals

  • Financial statement (certified) for the last 3 years
  • Residence proof (a copy of any of the following)

- Ration card - Telephone bill - Electricity bill - Voter's ID card

  • Identity proof (a copy of any of the following)
    • Voter's ID card
    • Employer's card
  • Passbook for proof of salary or income for the last 6 months/latest bank statement
  • The copies of all property documents of the property which is being pledged for the loan

How Does the EMI Calculation Work for HDFC Loan Against Property?

You can check your loan EMIs in an instant with the HDFC EMI calculator. All you need to do is to insert the value of the loan amount that you need, your desired tenure in years, and the interest rate. The results in your monthly EMIs will be displayed on your screen. Apply for HDFC Loan Against Property with flexible EMIs. 

HDFC Loan Against Property Customer Care Number

To enquire about the HDFC Loan Against Property requirements you can reach out on HDFC customer care number at 1800 202 6161/1860 267 6161 which is accessible pan India.

FAQs

From refinancing to reducing your interest, we have the answers right here.

What is the maximum tenure for which I can avail a Loan Against Property (LAP)?

The maximum tenure for which you can avail of a Loan Against Property is between 15 to 20 years.

Does HDFC Bank have a fixed rate of interest on a Loan Against Property?

No, the HDFC Loan Against Property interest rates are flexible.

Does HDFC Bank check the CIBIL score for HDFC Loan Against Property eligibility?

Yes, all banks check the CIBIL score of the applicants before approving their loan applications. A 750 CIBIL score is considered ideal by the banks.

What are the KYC documents I will have to submit to apply for a Loan Against Property from HDFC Bank?

HDFC Loan Against Property requirements include the KYC documents like identity proof, residence proof, and age proof for your Loan Against Property application. 

Do I have to pay a processing fee to apply for HDFC Loan Against Property?

Yes, HDFC Bank levies a processing fee of 1% of the loan amount with the minimum fee being ₹7,500. 

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