HDFC Bank Loan Against Property

July 26, 2022 by admin

Lowest HDFC Bank Mortgage Loan Interest Rates Starting From 7.50%* p.a.

What Is The Loan Against Property?

A loan against property is a loan provided against the collateral of the property. It is commonly also referred to as a mortgage loan, LAP loan, or property loan.

HDFC Bank Mortgage Loans

HDFC mortgage loans are available to meet your immediate requirement of funds at competitively low HDFC mortgage loan interest rates with flexible repayment options i.e.,15 years of maximum tenure for loan against property in HDFC Bank. Since the HDFC LAP rate of interest offered is low, you enjoy paying lower EMIs on your loan.

Prominent Features Of HDFC Loan Against Property

Both residential and commercial rented, self-owned or vacant properties are accepted as collateral.
Low HDFC loan against property interest rates from 7.50%* p.a. Onwards.
Concessions on the HDFC Bank LAP interest rates for women borrowers.
HDFC overdraft against property available in the form of dropline overdraft facility.
No hidden charges or fees in HDFC LAP loans.
Enjoy comfortable EMIs with HDFC Bank LAP loan with longer repayment tenure of 15 years.
Quick & easy processing of HDFC house mortgage loan.
Customized loan options are available for self-employed applicants.
HDFC bank property loans can be used for a variety of personal & business needs such as home renovations, weddings in a family, medical emergency, children education, investment in a business, etc.
Fixed and floating interest rates available.
Loan up-to 65% of the market value available.
Attractive HDFC LAP loan interest rate for mortgage loan balance transfers.

HDFC Mortgage Loan Eligibility

Loan against property eligibility HDFC Bank – is assessed based on your income and the market value of the property offered as collateral by using FOIR & LTV parameters. Other equally important parameters used to assess your HDFC Bank mortgage loan eligibility are your CIBIL scores, age, employment details, type of loan, loan tenure & HDFC LAP rate. You may also add an earning co-applicant to enhance your mortgage loan eligibility HDFC.

Also Read: 4 Important Benefits Of Applying For Joint Home Loans.

Below are the details of the HDFC loan against property.

Eligible Profiles	Salaried, Self-Employed, and Self-Employed Professionals.
Property To Mortgage	Residential, Rental, or Commercial.
Age Of The Borrower	* Minimum: 24 Years * Maximum: Salaried – 60 Years or retirement age whichever is earlier. & Self-employed – 70 Years for.
Type Of HDFC Home Mortgage Loan	* EMI- based term loan * Drop-line HDFC Bank overdraft against property loan.
Loan Amount	Rs.10 lakhs – Rs. 25 crores.
Maximum Tenure For Loan Against Property In HDFC Bank	Up-to 15 years.
HDFC Bank LAP Rate Of Interest	Starts from 7.50%* p.a.
HDFC Mortgage LoanProcessing Fees	Maximum of 1% on loan amount + applicable GST subject to minimum processing fees of Rs.7500/-.
LTV (Loan To Value)	65% on the market value of the property.

Also Read: Difference Between Home Loan And Loan Against Property

HDFC Mortgage Loan Rate Of Interest

HDFC Bank LAP loan, commercial loan, and LAP overdraft loans are linked to repo rates while HDFC Bank’s loan against rent receivables (LARR) are linked to MCLR (marginal cost of fund-based lending rate).

HDFC Bank loan against property interest rate	7.50% p.a. – 10.95% p.a.
HDFC Bank commercial property loan interest rate	8% p.a. – 10.95% p.a.
Dropline overdraft LAP interest rate HDFC	8% p.a. – 10.95% p.a.
HDFC Bank LAP loan interest rates for LARR	8.25% p.a. – 10.50% p.a.

Note: HDFC home mortgage loan interest rates are subject to change without prior notice.

Compare HDFC commercial property loan with ICICI Bank commercial property loan.

HDFC Mortgage Loan Products

Simple Mortgage Loan

It is a regular mortgage product where the residential & commercial property is pledged to obtain a loan. Following are the features of simple mortgage loans.

Attractive hdfc mortgage loan rates ranging from 7.50%* p.a. – 8.95% p.a.
Maximum tenure offered under loan against property in HDFC Bank is up-to 15 years.
Maximum funding of up-to 65% of the market value of the property.
Processing fees of up-to 1% of the loan amount subject to minimum of Rs.7500/-.
Prepayment charges are up-to 2% on the outstanding loan amount.
Loan against property HDFC Bank interest rate concession for women applicants.

Also Read: Housing Loan Benefits For Women Borrower In India.

Compare HDFC Bank loan against property with ICICI Bank loan against property.

2. Dropline Overdraft Against Property

HDFC Bank offers the facility of overdraft loan against property in the form of dropline o/d. Given below are the salient features of dropline overdraft against property HDFC Bank.

Customized loans option available for self-employed borrowers to meet their requirement of working capital.
A current account is mandatory. The loan amount will be credited only to the current account.
In dropline O/D the withdrawal limit is reduced every month from the original sanctioned limit.
The O/D limit against property HDFC is assigned for up-to 15 years.
HDFC Bank LAP loan interest rate for overdraft facility is charged monthly.
Overdraft mortgage loan interest in HDFC Bank ranges between 8% p.a. – 8.95% p.a.
Overdraft LAP rate of interest HDFC for non adherence of the ESCROW (current) account will be 10% p.a. – 10.95% p.a.
Processing fees will be a maximum of 1% on the loan amount subject to a minimum of Rs.7500/-.
Prepayment charges will be up-to 4% of the outstanding loan amount.

Also Read: Know All About Mortgage Overdraft.

3. Loan Against Rental Receivables (LARR)

LARR is a loan given against the mortgage of a rent out commercial property. The commercial property can be a shop or an office. Below are the salient features of LARR.

The commercial property must have been leased to reputed establishments.
Opening an ESCROW account is mandatory for LARR.
Loan tenure offered under LARR is 1 year – 9 years.
HDFC loan against rent receivables range from 8.25% p.a. – 8.50% p.a.
Interest rates for nonadherence of the ESCROW account will be 10.25% p.a. – 10.50% p.a.
Minimum loan amount under loan against rent receivables in HDFC Bank & maximum loan amount under loan against rent receivables in HDFC Bank depends on the net rentals receivables, balance tenure of the rental agreements, etc.
The maximum loan availed is up-to 50% of the market value of the property.
Processing fees – maximum 1% of the loan amount subject to a minimum of Rs.7500/-
Prepayment charges will be up-to 2.5% of the outstanding loan amount.

Also Read: What Loans Can I Get On My Property.

4. HDFC Bank Mortgage Loan BalanceTransfer

It is a loan for the mortgage loan takeover from another bank. HDFC offers attractive interest rates and processing fees for mortgage loan transfers. The following are its features:

HDFC interest rate on loan against property transfer starting from 8% p.a.
Special HDFC Bank LAP rate of interest of 7.50% p.a. for takeover loans of self-employed professionals (Doctors, CAs, etc.) & others having a CIBIL score of 780-800 above.

Also Read: Know How Your Home Loan Inquiry Impacts Your CIBIL Scores.

Discounted processing fees available.
Repayment tenures are available for up-to 15 years.
Two important conditions for the balance transfers include -Good CIBIL scores and good repayment track history of the loan applicants.

Transfer your mortgage loan to HDFC Bank, only at a processing fee of 0.50%

Also Read: Know How To Deal With The Increasing Interest Rates Of Housing Loans.

5. HDFC Bank Top Up Mortgage Loan

A top-up is borrowing additional funds on your existing mortgage loan. HDFC top up loans are available at the mortgage loan percentage in HDFC. Following are its features:

HDFC loan against property top up loan can be applied after 6 months of the disbursement of the mortgage loan.
The eligibility for the top-up loan amount is subject to income eligibility and property market value.
The maximum tenure for HDFC LAP loan top-up is 15 years.
HDFC top up interest rate starts from 8%* p.a.
Top-up processing fee is up-to 1% on the top up amount.
Top-up can also be applied along with the mortgage loan balance transfer.

Pre & Part Payment Charges Schedule

For non-individual borrowers other than salaried and self-employed loan borrowers, part payments and prepayments cannot be made until 6 months of repayments. The detailed list of applicable pre & part payment charges is mentioned below.

Part Prepayment Charges

HDFC Bank Commercial Property Loan & HDFC Property Mortgage Loan & Loan Against Rent Receivables HDFC	For repayment of up-to 25% of the outstanding loan amount, once every financial year – NIL Charges. For repayment above 25% of the outstanding loan amount – Charges will be applicable on the entire prepayment amount. For prepayment post 60 months after the date of the last disbursement of the loan – Nil Charges.
Dropline Overdraft Against Property HDFC	Nil Charges.

Also Read: 13 Important Things To Remember Before Prepaying Your Home Loan

Pre- Payment / Foreclosure Charges

The loan foreclosure charges applicable in HDFC Bank differ with the end-use of the mortgage loan, the type of interest rate, and the type of loan applicant.

Foreclosure Charges For Individual Loan Applicant Applying For A Mortgage Loan @ Floating Interest Rate

For Business Purpose

HDFC Home Loan Against Property	Dropline Overdraft Against Property	HDFC Loan Against Rent Receivables
* Prepayment within 60 months of the loan disbursement – 2.5% of the outstanding amount + Applicable GST. * Prepayment after 60 months of the loan disbursement – NIL Charges.	* Prepayment within 12 months of the loan disbursement – Up-to 4% of the operating limit prevailing at the time of prepayment + Applicable GST. * Prepayment after 12 months of the loan disbursement – Up-to 2% of the operating limit prevailing at the time of prepayment + Applicable GST.	* Prepayment within 60 months of the loan disbursement – 2.5% of the outstanding amount + Applicable GST. * Prepayment after 60 months of the loan disbursement – NIL Charges.

For End Use Other Than Business Purpose

NIL Charges

* Prepayment within 12 months of
the loan disbursement – Up-to 4% of
the operating limit prevailing at the
time of prepayment + Applicable GST.

* Prepayment after 12 months of
the loan disbursement – Up-to 2%
of the operating limit prevailing
at the time of prepayment + Applicable GST.

NIL Charges

Foreclosure Charges For Micro & Small Enterprises For Mortgage Loan Taken @ Floating Interest Rate & Prepaid With Own Funds

HDFC Home Loan Against Property	Dropline Overdraft Against Property	HDFC Loan Against Rent Receivables
NIL Charges	NIL Charges	Not Applicable

Prepaid With Borrowed Funds

* Prepayment within 60 months of the loan disbursement – 2.5% of the outstanding amount + Applicable GST.

* Prepayment after 60 months of the loan disbursement – NIL Charges.

* Prepayment within 12 months of the loan disbursement – Up-to 4% of the operating limit prevailing at the time of prepayment + Applicable GST.

* Prepayment after 12 months of the loan disbursement – Up-to 2% of the operating limit prevailing at the time of prepayment + Applicable GST.

Not Applicable

Foreclosure Charges For Non- Individual Loan Applicant Applying For A Mortgage Loan @ Floating Interest Rate

HDFC Home Loan Against Property	Dropline Overdraft Against Property	HDFC Loan Against Rent Receivables
* From 6 months – 60 months – 2.5% on the outstanding loan amount + applicable GST. * Above 60 months – Nil Charges.	* Prepayment within 12 months of the loan disbursement – Up-to 4% of the operating limit prevailing at the time of prepayment + Applicable GST. * Prepayment after 12 months of the loan disbursement – Up-to 2% of the operating limit prevailing at the time of prepayment + Applicable GST.	* From 6 months – 60 months – 2.5% on the outstanding loan amount + applicable GST. * Above 60 months – Nil Charges

The above-mentioned charges on LAP HDFC Bank are subject to change without any prior notice.

List Of Other Charges For Property Against Loan HDFC Bank

(GST is applicable on all charges)

Stamp Duty	0.30% on the loan amount.
EMI Late Payment Charges	2% per month. (not applicable on overdraft facility)
CERSAI	Rs.500/-
Cheque / ECS / EMI Bounce Charges	Rs.550/-
Repayment Schedule Charge	Rs.200/- per schedule
Cheque/ SI/ECS Swapping Charges	Rs.500/-
Conversion Charges	NIL
Document Retrieval Charges	Rs.500/-
Partial Property Release/ Property Swapping Charges	0.10% of the loan amount subject to a minimum of Rs.10,000/-
Interest On Over Utilized Overdraft Amount	18% p.a
Commitment Charges For Overdraft Accounts	Up-to 0.10% subject to Minimum of a Rs.5000/-

HDFC Mortgage Loan Calculator

HDFC mortgage loan EMI calculator helps you to calculate your monthly mortgage loan installment. To know your monthly mortgage installment you need to enter the following details on the HDFC loan against property EMI calculator

Your desired loan amount
Mortgage loan HDFC Bank interest rate
Your desired loan tenure

By entering these details on the HDFC LAP EMI calculator you can easily get the per month installment figure along with the interest payable.

You can also compare between EMIs for different loan tenures and different interest rates with the help of Loanfasttrack’s EMI calculator. The EMI calculator also gives you the figure for the total interest payable on the loan amount.

HDFC Mortgage Loan Documents Required

	Salaried	Self-Employed
KYC	Pan Card, Aadhar Card, Residence & Office Proof	Pan Card, Aadhar Card, Residence & Office Proof
Income Documents	1) 4 Months Salary Slips 2) 2 Years Form 16 3) 6 Months Bank Account Statement.	1) 3 Years ITR Copy with Saral Copy, Computation of Income, Balance Sheet, P&L account, Capital Account – CA certified with membership no. 2) 12 Months Bank Account Statements Of All Accounts. 3) Business Profile 4) Business Proofs.
Property Documents	1) Prior Chain Of Agreement 2) Oc/Cc + Plan Copy 3) Index 2 4) Share Certificate 5) Property Tax 6) Property Maintenance 7) Society Registration Certificate	1) Prior Chain Of Agreement 2) Oc/Cc + Plan Copy 3) Index 2 4) Share Certificate 5) Property Tax 6) Property Maintenance 7) Society Registration Certificate
Additional Documents Required For LARR	1) Leave & license agreement copy. 2) 12 months bank statement to which rentals are credited.	1) Leave & license agreement copy. 2) 12 months bank statement to which rentals are credited.
For Detailed List Refer	HDFC loan against property documents required for salaried customers – Click.	Documents required for loan against property HDFC for self-employed – Proprietorship Firm, Partnership Firm & Private Ltd. Company.
	HDFC Bank mortgage loan documents required for balance transfer for salaried customers- Click.

Check the additional links for the commercial loan list of documents for the salaried-builder case, salaried- resale case, partnership firm-builder case, partnership firm-resale case, private limited company-builder case, the private limited company- resale case, proprietorship firm-builder case, proprietorship firm-resale case.

Comparison Of HDFC Mortgage Loan Interest Rates With Other Banks

Compare the best banks for a mortgage loan in India with the help of the following chart.

Bank Name	Mortgage Loan Rate Of Interest	Mortgage Processing Fees	Loan Tenure
ICICI Bank	8.35% p.a. onwards.	1% of the loan amount + applicable GST	Up-to 20 years
*Limited period offer with ICICI Bank*	*0.50% Processing Fee waiver for cases above Rs.50 Lakhs*	CLICK.
*Special ROI for a commercial loan with ICICI Bank @ 8% p.a.*	*Discounts available on processing fees.*	CLICK.
Canara Bank	9.95% p.a. – 12% p.a.	0.50% of the loan amount + applicable GST	Up-to 10 years
Kotak Mahindra Bank	9.25% p.a. onwards	1% of the loan amount + applicable GST	Up-to 15 years
Axis Bank	10.50% p.a. 11.25% p.a.	Rs.10,000/- or 1% of the loan amount (whichever is higher) + applicable GST	Up-to 20 years
SBI Bank	8.80% p.a. – 9.65% p.a.	1% on the loan amount + applicable GST Subject to minimum a of Rs.50,000/-	Up-to 15 years
Bank Of Baroda	8.05% p.a. – 13.20% p.a.	1% of the loan amount + applicable GST Subject to a maximum of Rs.1,50,000/-	Up-to 10 years
Bank Of India	8.85% p.a. – 9.35% p.a.	1% of the loan amount + applicable GST Subject to a maximum of Rs.50,000/-	Up-to 15 years

HDFC Loan Mortgage FAQ

Q. What is the lowest mortgage loan rate of interest in HDFC?

Ans: The interest rate lowest with HDFC starts from 7.50%* p.a.

Q. I am an NRI working in UAE. Can I get a loan against property for NRI in HDFC Bank?

Ans: HDFC Bank is not doing the mortgage loan for NRIs.

Q. What is HDFC loan against property customer care number?

Ans: HDFC Bank customer care number for Mumbai, Pune, Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, and Kolkata is 61606161.

For Chandigarh, Cochin, Indore, Jaipur & Lucknow is 6160616

Q. Can I apply for a reverse mortgage loan HDFC Bank?

Ans: HDFC Bank does not provide reverse mortgages and therefore you may not be able to apply for HDFC reverse mortgage loans. Click to get the list of banks that offer reverse mortgage loans in India.

Q. Can I apply for a mortgage loan online with HDFC Bank?

Ans: Currently the HDFC loan against property apply online is restricted & only the physical mortgage loan applications are processed with HDFC Bank. Therefore you might have to apply offline for a mortgage loan with HDFC Bank.

Read to know the difference between online and offline loan processing.

Q. I own a bungalow in my village in Hyderabad? Can I get a mortgage loan against my village bungalow?

Ans: HDFC Bank does not fund the gramanchyat properties.

Also Read: Why Is It Difficult To Get A Loan On Grampanchayat Property?

Click to get the complete questionnaire on loan against property.

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Loanfasttrack

Loanfasttrack is a Mumbai-based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, unsecured business loans, home loan transfer, top-up loans, loan transfers and apply for a business loan in Mumbai. Loanfasttrack is a direct sales associate with leading banks namely, ICICI Bank, HDFC Ltd, Canara Bank, Citi Bank, Piramal Housing Finance, etc.

Contact Loanfasttrack:

Website – www.loanfasttrack.com

Email – info@loanfasttrack.com

Tel – 9321020476

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