Urban Money

Housing Development Finance Corporation Loan Against Property

Housing Development Finance Corporation
4.5

You can readily apply for HDFC Bank loan against property, taking advantage of the attractive HDFC Bank loan against property interest rate and also the seamless HDFC Bank loan against property online application procedure. You can obtain up to 65% of the property value as your loan amount for covering the cost of a family wedding, home repairs and renovations, business investments, higher education of children and so on.

  • Housing Development Finance Corporation
  • Loan Against Property
Loan Amount:₹8L - ₹1.5Cr
Interest Rate:7.5% - 10.3%
Processing Fee: 1.5%
Tenure:2.5 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
Housing Development Finance Corporation

7.5% - 10.3%

1.5%

₹8L - ₹1.5Cr

Tenure(1 - 2 Years)

Details

Features and Benefits of HDFC Bank Loan Against Property

  • You can get higher amounts up to 65% of the property’s market value. 
  • You can enjoy attractive rates of interest on your loan against property. 
  • Both commercial and residential properties are readily taken as collateral and you can use the funds for meeting diverse requirements. 
  • There are flexible and seamless options for repayment including the Dropline Overdraft or low EMI options. 
  • There are transparent charges and fees without any hidden costs. 
  • Doorstep services are provided for maximum convenience. 
  • Self-employed customers can avail of customized options for loans as well. 

You can readily apply for HDFC Bank loan against property, taking advantage of the attractive HDFC Bank loan against property interest rate and also the seamless HDFC Bank loan against property online application procedure. You can obtain up to 65% of the property value as your loan amount for covering the cost of a family wedding, home repairs and renovations, business investments, higher education of children and so on.

HDFC Bank Loan Against Property Eligibility Criteria

There are many HDFC Bank loan against property requirements that you should fulfill. The eligibility criteria pertain to salaried and self-employed individuals.

HDFC Bank loan against property fees and charges

The fees and charges are the following: 

  • Foreclosure charges- 2.5% of the principal outstanding (less than 60 months post disbursement) or 4% of the operating limit prevailing at prepayment within 12 months from the disbursement date. 
  • Zero prepayment charges up to 25% of the outstanding loan amount every financial year. If the amount prepaid is more than this threshold, then charges will apply to the entire amount. Zero prepayment charges for payments made after 60 months of the disbursement date. 
  • Late EMI payment charges- 2% per month on the amount overdue. 
  • Repayment Schedule charges- Rs. 200 for each schedule. 
  • Cheque/EMI Bounce charges- Rs. 450 + taxes for the first return. For the second in a month, it will be Rs. 500 + taxes and for the third time, it will be Rs. 550 + taxes. 

HDFC Bank loan against property interest rates

The interest rates are the following: 

Rack Interest Rate Range Policy Repo Rate* + 4% - 4.95% = 8-8.95% on average. 

How does HDFC Bank compare with other lenders?

The rates of interest at fellow banks are the following:

IDFC First 8% per annum onwards
SBI (State Bank of India) 8.45-10% per annum
ICICI Bank 8.35-10% per annum

Rates are indicative and subject to changes. 

Documents Required for HDFC Bank Loan Against Property

Documents for Salaried Borrowers

  • Residence Proof (Ration Card/Voter ID Card/Electricity or Telephone Bill)
  • Identity Proof (Employer’s Card/Voter ID Card). 
  • Latest passbook/bank statement with salary income credited for the last six months. 
  • Salary slips for the last six months which indicate all the deductions. 
  • Last two years’ Form-16. 
  • Copies of all property documents of the property to be pledged as collateral. 

Documents for self-employed Borrowers 

  • Last three years’ certified financial statements. 
  • Proof of residence (telephone bill, ration card, voter ID card, electricity bill). 
  • Proof of identity (Voter ID card or employer’s card). 
  • Latest passbook/bank statement with income being credited for the last six months. 
  • Copies of all property documents for the property being pledged as collateral. 

HDFC Bank Loan Against Property Customer Care Number

You can contact 1800 210 0018 for more information and assistance.

Get your latest Credit Score, FREE

Related Articles

Get in-depth knowledge about all things related to loans and your finances

Home Loan Interest Rates Spiked After RBI's Repo Hike
Shiv Kumar GuptaMay 12, 2022

Home Loan Interest Rates Spiked After RBI's Repo Hike

The Reserve Bank of India regulates the home loan criteria, which are constantly changing owing to numerous economic circumstances. Read the blog to learn more about the RBI and how its latest home loan guidelines wil

Read More
The Collateral World of Mortgaging Property
Satish PrajapatiJan 21, 2022

The Collateral World of Mortgaging Property

A mortgage is any immovable property that is given as a security or collateral against a loan for building a property. The party lending the money

Read More
The Definitive Guide: Acquire Home Loan From The Best Financial Banks
Satish PrajapatiJan 21, 2022

The Definitive Guide: Acquire Home Loan From The Best Financial Banks

The present year 2021 has been identified as a good year to invest in homes due to the lower interest rate on home loans as well as the reducti

Read More