HDFC Bank Loan Against Property
HDFC Bank Loan Against Property
HDFC Bank offers all sorts of financial services to salaried and self-employed applicants for business or personal purposes. One such offering from the bank comes in the form of an HDFC loan against property (LAP). Borrowers can avail the HDFC LAP for up to 65% of the property value as the loan amount for a tenure of up to 15 years. The HDFC Bank loan against property rate of interest starts at 9.50% per annum.
HDFC Bank EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
HDFC Bank Loan Against Property Interest Rate
If HDFC Loan Against Property is your first choice, you will feel more confident about your decision after going through the table below comparing the rate of interest for LAP of HDFC with other leading banks and non-banking financial companies:
| Rate Package | Rate of Interest |
|---|---|
| Floater | 9.50% - 11.00% p.a. |
| Fixed Rate | 11.80% - 13.30% p.a. |
HDFC Bank Loan Against Property Eligibility Criteria
It is crucial to check the loan against property eligibility for HDFC Bank to understand your chances of qualifying for this loan. Meeting the eligibility criteria ensures that both the lender and the borrower are protected, and the loan process is smooth and safe.
The table below will update you with the HDFC Bank loan against property eligibility criteria:
For Salaried Individuals
Age Range (in years)
21 - 65 years
Nationality
Indian Residents
Minimum Income Earned
Rs. 25,000 per month
Credit Score
650 and Above
For Self-Employed Individuals
Age Range (in years)
21 - 65 years
Nationality
Indian Residents
Minimum Income Earned
Rs. 25,000 per month
Credit Score
650 and Above
HDFC Bank Loan Against Property Fees and Charges
HDFC Bank charges some processing fee to process the loan against the property scheme. Besides, the bank also charges on account of prepayment, cheque dishonor, and other similar factors to meet the expenses and to ensure a smooth loan disbursement procedure.
Have a look at the table below to understand the HDFC loan against property processing fees and other charges:
| Processing Fee | Up to 1% of the loan amount or Minimum: Rs. 7,500 |
| Dishonor Charges | Up to Rs. 300 |
| PDC Swap Charges | Up to Rs. 500 |
| Copy of Documents | Up to Rs. 500 |
| Prepayment Charges | Prepaid not exceeding 25% of the loan amount: Nil; Prepaid exceeding 25% of the loan amount: 2.5% of the loan amount |
| Disbursement Cheque Cancellation Charges | Up to Rs. 500 |
| Loan Reappraisal After 6 Months of Sanction | Up to Rs. 2000 |
Compare Interest Rates on Loan Against Property for Top Banks & NBFCs
If HDFC Loan Against Property is your first choice, you will feel more confident about your decision after going through the table below comparing the rate of interest for LAP of HDFC with other leading banks and non-banking financial companies:
- Rate of Interest - 9.50% - 11.00% p.a.
- Processing Fee - 1% of the loan amount (minimum of Rs. 7,500)
- Rate of Interest - 9.50% - 11.55% p.a.
- Processing Fee - 1% of the loan amount
- Rate of Interest - 10.85% - 12.50% p.a.
- Processing Fee - 1.50% of the loan amount or Rs. 11,000 (whichever is higher)
- Rate of Interest - 10.00% - 11.30% p.a.
- Processing Fee - 1% of the loan amount
- Rate of Interest - 10.40% - 12.75% p.a.
- Processing Fee - 1% of the loan amount or Rs. 10,000 (whichever is higher)
Documents Required For HDFC Bank Loan Against Property
Interested applicants must also go through the HDFC loan against property documents required list to avoid disappointment when applying for the same. The bank requires a general set of KYC documents to verify the age, identity, address, and income of the applicant. Listed below are the documents required for HDFC LAP:
| For Salaried Loan Applicants | Address Or Identity Proof: Aadhaar Card, PAN Card, Passport, Voter ID Card, Etc.
Income Proof: Latest ITR/ Form 16, Salary Slips For The Previous 3 Months, Bank Account Statements For The Previous 6 Months
Documents Of Property: Approved Plan, Title Deeds, No Encumbrance Proof, And So On
Other Documents: Processing Fee Cheque, Duly-Filled Application Form, Appointment Letter/ Employment Contract, Own Contribution Proof, And Latest Passport Size Photographs |
| For Self-Employed Loan Applicants | Address Or Identity Proof: Like Aadhaar Card, PAN Card, Passport, And Voter ID Card
Income Proof: ITR/ Form 16 For The Previous 3 Years, Profit And Loss Account Statements And Balance Sheets For The Previous 3 Years, Savings Account Statement/ Current Statement Of The Business Entity For The Previous 6 Months, Business Profile, Form 26AS
Documents Of Property: Approved Plan, Title Deeds, No Encumbrance Proof, Etc.
Other Documents: Processing Fee Cheque, Recent Passport Size Photographs, Duly Filled Application Form, Own Contribution Proof, Declaration And Documents Mentioning The End Use Of The Loan, Partnership Deed If The Business Entity Is In Partnership, And The List Of Stakeholders |
How to Apply for an HDFC Loan Against Property
The HDFC loan against property apply online is a simple procedure that can be done by following these steps:
Apply Now on the BASIC Website
Go to the official website of BASIChomeloan and click on the Apply Now section
Choose ‘Loan Against Property’
Choose ‘Loan Against Property’ under ‘Tell us about your requirements’
Enter Your Details
Enter the required details such as your name, contact number, email ID, loan amount, and pincode, and click ‘Next’
Our Expert Will Reach Out to You
The BASIC Home Loan team will then contact you for further process in applying for an HDFC Home Loan Against Property
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