Apply HDFC Bank Loan Against Property Online
Explore 2017 interest rates available for HDFC bank loan against property. Check eligibility criteria, documents required and get instant approval.
HDFC Bank Loan Against Property
Features of HDFC Bank Loan Against Property
- Higher loan amount available for longer tenure and at attractive rates for everyone.
- Quick and hassle free loan with quick approvals.
- Residential and commercial properties accepted as collateral.
- Excellent debt consolidation tool.
Benefits of HDFC Bank Loan Against Property
- Higher Loan amount with Lowest EMI.
- Funds can be used for the business as well as personal needs.
- Flexible repayment Options to choose between Dropline Overdraft Facility or EMI based loan.
- Specially designed programs for the Self Employed peoples.
Documents Required for HDFC Bank Loan Against Property
If you have decided to expand your businesses or need fund for your personal requirements through a loan against property, we advise you to first check eligibility criteria here according to your employment status. if you are a salaried individual, you will require the following documents- 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.
- 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.
- Copies of all Property Documents of the concerned property that you chose to pledge for the loan.
- 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.
- Certified Financial Statement for the last 3 years.
- Your Proof of Residence - A ration Card / Telephone Bill / Electricity Bill / Voters Card will do.
- Copies of all Property Documents of the concerned property that you chose to pledge for the loan.
HDFC Bank Interest Rates & Charges for Loan Against Property
| 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-paymentcharges | - For Floating rateterm loans availed by individual borrowers - NIL** - For Fixed rateterm loans and Non 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 â 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 âNIL(*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. If the amount being prepaid is more than 25% then the charges shall be applicable on the enitre amount being prepaid and not only on the amount in excess of said 25%. No prepayment charges will be charged for prepayment post 60 months after date of last disbursement of the loan. 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. If the amount being prepaid is more than 25% then the charges shall be applicable on the enitre amount being prepaid and not only on the amount in excess of said 25%. No prepayment charges will be charged for prepayment post 60 months after date of last disbursement of the loan. 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 / ECS swapping charges | Rs. 500/- | Rs. 500/- | Rs. 500/- |
| Legal/Repossession & Incidental charges | At actuals | At actuals | At actuals |
| Account Maintainance Charges | NA | NA | 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 | APR | ||||
|---|---|---|---|---|---|
| Min | Max | Avg | Min | Max | Avg |
| 10.50% | 13.50% | 11.60% | 10.52% | 13.61 | 12.04% |
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