HDFC Bank Loan Against Property Highlights |
|
|---|---|
| Interest Rate |
|
| Processing Fees | Up to 1% of loan amount (minimum Rs 75,000) |
| Loan Amount | Up to 65% of property value |
| Tenure | Up to 15 years |
HDFC Bank Loan Against Property Interest Rates
Fixed Interest Rate
| Product | Interest Rates (p.a.) |
|---|---|
| Minimum Interest Rate | 11.80% p.a. |
| Maximum Interest Rate | 13.30% p.a. |
Floating Interest Rate
| Product | Interest Rates (p.a.) |
|---|---|
| Minimum Interest Rate | 9.50% p.a. |
| Maximum Interest Rate | 11.00% p.a. |
HDFC Bank has not disclosed differential interest rates based on factors such as credit score, occupation profile, etc., for its loan against property applications. However, it's common for many lenders to take these factors into consideration when determining interest rates for such loans.
Also read: Best Loan Against Property Interest Rate
Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) | |
|---|---|---|
| State Bank of India | 10.00 - 11.30 | Apply Now |
| Axis Bank | 10.50 - 10.95 | Apply Now |
| Bank of Baroda | 10.85 - 16.50 | Apply Now |
| ICICI Bank | 10.85 - 12.50 | Apply Now |
| Standard Chartered Bank | Starts from 9.25% | Apply Now |
| HSBC Bank | 9.75 - 14.00 | Apply Now |
| Union Bank of India | 10.45% - 13.10% p.a. | Apply Now |
| PNB Housing Finance | 9.25 - 15.00 | Apply Now |
| IDFC First Bank | 9.00 - 16.50 | Apply Now |
| HDFC Bank Limited | 9.50 - 11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50 - 11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| Indiabulls Finance | 9.75% p.a. onwards | Apply Now |
| Tata Capital | 10.10 onwards | Apply Now |
| Bajaj Housing Finance | 9.75 - 18.00 | Apply Now |
| Punjab National Bank | 10.40 - 12.75 | Apply Now |
HDFC Bank Loan Against Property Fees and Charges
| Particulars | Charges |
|---|---|
| Processing Charges | Up to 1% of loan amount (minimum Rs 75,000) |
| Loan re-appraisal after 6 months of sanction | Up to Rs 2000 |
| Documents photo copy | Up to Rs 500 |
| PDC swap | Up to Rs 500 |
| Dishonour charges | Up to Rs 300 |
| Documents list | Up to Rs 500 |
| Disbursement cheque cancellation charge | Up to RS 500 |
| Prepayment charges |
|
Also read: Best Loan Against Property EMI Calculator
Eligibility Criteria for HDFC Bank Loan Against Property
HDFC Bank considers the following eligibility criteria for its Loan Against Property applicants:
- Age: Between 21 and 65 years.
- Nationality: Indian residents.
- Profession: Salaried individuals, Self-Employed Professionals (such as doctors, lawyers, CAs, architects, consultants, engineers, CS, etc.), and Self-Employed Non-Professionals (including commission agents, traders, contractors, etc.).
Additionally, HDFC Bank may evaluate applicants based on factors such as credit score, monthly income, work experience, and other relevant criteria to determine eligibility for a Loan Against Property.
Also read: Best Loan Against Property Eligibility
Documents Required for HDFC Bank Loan Against Property
Below is the list of documents required for availing an HDFC Bank Loan Against Property:
For Salaried individuals:
- ID/Residence Proof: PAN card, Aadhaar card, passport, voter ID, driving license
- Income Proof: Salary slips for the last 3 months, salary account statement for the last 6 months, Form 16/Income Tax Return (ITR)
- Property Documents: Approved plan, proof of no encumbrance, title deeds including previous property documents
- Other Documents: Employment contract/appointment letter, bank account statement for the last 6 months showing loan repayment history, processing fee cheque, proof of own contribution, documents and declaration stating the end use of the loan.
For Self-Employed
- Processing fee cheque
- Own contribution proof
- Passport size photographs
- Business profile
- Form 26AS
- Memorandum and Article of Association
- ID/Residence Proof: Aadhaar card, voter ID, driving license, PAN card
- Income Proof
- Income Tax Returns (ITR) for the last 3 years along with income computation
- Balance sheet and profit and loss account statements for the last 3 years with schedules/annexures
- Savings account statement and current account statement of the business entity for the past 6 months
- Property Documents: Proof of no encumbrance, approved plan, title deeds including previous property documents
- List of shareholders and directors with individual shareholding certified by CA/CS
- If the business entity is a partnership firm, partnership deed is required
- Details of current ongoing loans of the business entity and individuals
- Declaration and documents mentioning the end use of the loan
Also Read : Best Loan Against Property Documents Required
FAQs on HDFC Bank Loan Against Property
1. How to apply for HDFC Loan Against Property?
You can apply for HDFC Bank Loan Against Property either directly through the official website of HDFC Bank, by visiting HDFC Bank branches, or by using third-party financial platforms such as Mybankingtips.com to facilitate the application process for HDFC Bank LAP.
2. What is the current Loan Against Property interest rate offered by HDFC Bank?
The floating interest rates for HDFC Bank's Loan Against Property range from 9.50% to 11% per annum. The fixed interest rates for HDFC Bank's Loan Against Property range from 11.80% to 13.30% per annum.
3. What is the maximum term for which I can avail a HDFC Bank Loan Against Property?
HDFC Bank offers Loan Against Property with flexible tenures of up to 15 years. Additionally, you can avail of Loan Against Rent Receivables from HDFC Bank for tenures of up to 9 years.
4. What is the maximum loan amount I can avail for HDFC Bank Loan Against Property?
HDFC Bank offers Loan Against Property with a loan amount of up to 65% of the property value. The exact loan amount provided to applicants may vary depending on factors such as the applicant's income, creditworthiness, property value, and other relevant criteria determined by the bank during the loan assessment process.
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