HDFC Ltd Loan Against Property (LAP)
| Lowest HDFC Ltd LAP Interest Rates Starting From 7.35%* p.a. |
Also referred to as HDFC Ltd Mortgage Loans, HDFC property mortgage loan is available to all eligible borrowers against the collateral of their residential as well as commercial property to meet your personal & business needs at attractive HDFC Ltd mortgage loan interest rate starting from 7.35% p.a. onwards with longer repayment tenures up to 15 years. With a low HDFC property mortgage loan interest rate, you enjoy paying low EMIs on your LAP loan.
Prominent Features Of HDFC Loan Against Property
- Both residential and commercial properties are accepted as collateral.
- HDFC property loans can be used for a variety of personal as well as business purposes such as home renovations, weddings in a family, medical emergency, children education, investment in a business, etc.
- Low HDFC loan against property interest rate starting from 7.35% p.a. onwards.
- Smaller EMIs with longer repayment tenures up to 15 years.
- Smooth and hassle-free documentation for HDFC mortgage loans.
- Quick & easy processing of HDFC LAP loan.
- Concessions on HDFC mortgage rates for women borrowers.
(Also, read housing loan benefits for women borrowers)
- HDFC Ltd top up loan is available at attractive HDFC LAP ROI (Rate Of Interest).
- Integrated branch network for availing and servicing of the loan in India.
- No hidden charges or fees in HDFC home mortgage loans.
- Fixed as well as floating HDFC LAP rate of interest is available.
- Loan up to 60% of the market value available.
- Attractive HDFC LAP loan interest rate for mortgage loan balance transfers.
- Can be applied online from the comfort of your home through HDFC mortgage loan apply online option. (Check online v/s offline loans)
Loan Against Property Eligibility HDFC
HDFC mortgage loan eligibility 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 mortgage loan eligibility are your CIBIL scores, age, employment details, type of loan, loan tenure & HDFC LAP interest rate. You can also apply for the loan jointly to enhance your mortgage loan eligibility HDFC by adding an earning co-applicant to the loan.
Also, read 4 Important Benefits of Applying for Joint Home Loans.
HDFC Criteria for loan against property
| Eligible Profiles | * Salaried * Self-Employed Professionals -> Doctors -> Chartered Accountants -> Architects -> Engineers -> Lawyers -> Company Secretaries -> Consultants -> Etc. * Self-Employed Non-Professionals -> Trader -> Contractors -> Commission Agents Etc. |
| Property To Mortgage | Residential, & Commercial. |
| Age Of The Borrower | * Minimum: 21 Years * Maximum: Salaried – 65 Years or retirement age whichever is earlier. & Self-employed – 70 Years for. |
| Type Of HDFC House Mortgage Loan | EMI- based term loan |
| Maximum Mortgage Loan Amount | * Minimum – Rs.10 Lakhs. * Maximum – Rs.25 Crores. |
| Maximum Tenure For Loan Against Property | Up to 15 years. |
| Mortgage Loan Rates HDFC | 7.35% p.a. – 10.30% p.a. |
| HDFC Mortgage LoanProcessing Fees | Up to 1.5% of the loan amount or Rs.4,500/- whichever is higher + applicable GST. |
| LTV (Loan To Value) | * For existing HDFC customers – 60% on the market value of the property. * For new customers – 50% on the market value of the property. |
| CIBIL Score | Satisfactory CIBIL scores of 730 & above. |
Also, read: Difference Between Home Loan And Loan Against Property
HDFC Mortgage Loan Rate Of Interest
LAP Loan Interest Rate HDFC for Loans Up to Rs.50 Lakhs
| Residential Property | Commercial Property |
| Self-Occupied | Non-Self-Occupied | ||||
| Floating Rate | Tru Fixed Loans | Floating Rate | Tru Fixed Loans | Floating Rate | Tru Fixed Loans |
| 7.50% p.a. – 8.50% p.a. | 7.90% p.a. – 8.90% p.a. | 7.95% p.a. – 9.30% p.a. | 8.55% p.a. – 9.30% p.a. | 7.95% p.a. – 10.30% p.a. | 8.55% p.a. – 10.30% p.a. |
- Note: (i) True fixed mortgage loan percentage in HDFC is available for 2 years.
- (ii) LAP rate of interest HDFC is subject to change without prior notice.
LAP Interest Rate HDFC for Loans Above Rs.50 Lakhs
| Residential Property | Commercial Property |
| Self-Occupied | Non-Self-Occupied | ||||
| Floating Rate | Tru Fixed Loans | Floating Rate | Tru Fixed Loans | Floating Rate | Tru Fixed Loans |
| 7.35% p.a. – 8.35% p.a. | 7.75% p.a. – 8.75% p.a. | 7.80% p.a. – 9.15% p.a. | 8.35% p.a. – 9.15% p.a. | 7.80% p.a. – 10.15% p.a. | 8.35% p.a. – 10.15% p.a. |
Note: (i) True fixed mortgage loan rate of interest HDFC is available for 2 years.
(ii) HDFC interest rate on loan against property is subject to change without prior notice
Read:13 Important Things To Remember Before Prepaying Your Home Loan
HDFC Loan Against Property Balance Transfers & Top-Ups
HDFC offers attractive interest rates for mortgage loan transfers to HDFC starting from 7.35% p.a. You can also avail of a top-up along with the HDFC loan transfer. A top-up means borrowing additional funds on your existing mortgage loan. HDFC top up interest rate is available at the mortgage rates in HDFC. Following are the important terms & conditions for the loan transfers:
- You must have a good CIBIL score.
- You must have a good repayment track history.
- You must have successfully served EMIs for at least 6-12 months.
- There are no delayed payments in EMIs in the latest 12-18 months.
- HDFC loan against property top up loan applied will be disbursed only after the original documents are received from the other lender.
- HDFC top-up loans eligibility will be subject to your income eligibility and property LTV.
Click to know the HDFC mortgage loan documents required for balance transfer for salaried customers & top-up loan document checklist for self-employed customers.
Also, read:Know How To Deal With The Increasing Interest Rates Of Housing Loans.
Mortgage Processing Fees And List Of Other Charges
(GST is applicable on all charges)
| LAP Processing Fee | Up to 1.50% of the loan amount or Rs.4500 whichever is higher. |
| Legal & Technical Charge | As per actuals. |
| Property Insurance | Vary with the property value and the loan amount. |
| Stamp Duty | 0.30% on the loan amount. |
| CERSAI | Rs.500/- |
| Delayed Payment Charges on HDFC Loan Mortgage | Up to 24% p.a. |
| Cheque Dishonor Charges | Rs.300/- |
| List Of Documents | Rs.500/- |
| Photocopy Of Documents | Rs.500/- |
| Incidental Charges | As per actuals. |
| PDC Swap | Rs.500/- |
| Disbursement Cheque Cancellation Charge Post Disbursement | Rs.500/- |
| Re-Appraisal Of Loan After 6 Months From Sanction | Up to Rs.2000/- |
| Increase/Decrease In Loan Term | Rs.500/- |
| Pre & Part Payment Charges | * Availed for Personal Purpose – Nil for floating-rate loans of individual borrowers. * Availed for Business Purposes – -> If prepaid within 6 months from disbursement – 2% of the prepaid amount. -> If prepaid between6 months – 3years Nil – if 25% of the original sanction amount is prepaid every year. 2% of the prepaid amount if excess of 25% of the original sanction amount is prepaid every year -> If prepaid after 36 months Nil – if prepaid by own funds/sources. 2% – if prepaid through refinancing. |
| Conversion Charges | * Switch to lower rates – Half of the spread difference on the principal outstanding and undisbursed amount (if any) subject to min. fee of 0.50% & max. 1.50%. * Switch to an RPLR NH benchmark rate and corresponding spread – NIL if the rate of interest remains the same on conversion OR Half of the spread difference on the principal outstanding and undisbursed amount (if any) subject to min. fee of 0.50% & max. 1.50%, if the rate of interest is lowered on conversion. |
Note: LRD loans, LAP loans taken for business needs, commercial property loans, and top-up loans are classified into business loans.
Also, know all costs of a home loan.
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
- HDFC property against loan interest rate
- Your desired loan tenure
By entering these details on the HDFC LAP loan 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.
Also read, Home Loan EMI Calculator.
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 |
| To Download the documents CLICK on the link | 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. |
Comparison Of HDFC Mortgage Loan Interest Rates With Other Banks
Compare thebest 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 are 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 | 8.45% p.a. – 10% 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. – 10.35% p.a. | 1% of the loan amount + applicable GST Subject to a maximum of Rs.50,000/- | Up-to 15 years |
Also, read Best Banks For Home Loan In India.
REMEMBER
- HDFC Ltd. is a non-banking housing finance company (HFC).
- All property owners have to be co-applicants to the loan.
- Overdraft facility against property mortgage is not available with HDFC Ltd.
- A fixed loan against property rate of interest HDFC is available starting from 7.75% p.a. onwards.
- The borrower must ensure that the property is insured against all risks such as earthquakes, fire, explosion, flood, storm, cyclones, etc. during the loan tenure.
- Two important conditions for the loan against property balance transfer include good CIBIL scores and your good repayment track history. (Also, read to know how your home loan inquiry impacts your CIBIL Scores)
- You can also enjoy the income tax benefits on mortgage loans.
- HDFC Ltd. does not provide a loan against property for an NRI.
- HDFC Ltd. does not fund the gramanchyat properties.
Also, read Why Is It Difficult to Get a Loan on Gram Panchayat Property?
- Reverse mortgage loans for the elderly are not available with HDFC Ltd.
FAQs
Q. What is the HDFC mortgage loan interest rate 2021?
Ans: HDFC home mortgage loan interest rate for 2021 range from 7.35% p.a. to 10.30% p.a.
Q. What is the lowest HDFC mortgage loan rate?
Ans: The interest rate lowest in HDFC is 7.35% p.a. offered for mortgage loans above Rs.50 Lakhs under floating mortgage loan rate of interest in HDFC for the self-occupied properties.
Q. Can I avail of an overdraft against property HDFC loan?
Ans: Overdraft loan against property is not available with HDFC Ltd.
Q. What is my loan eligibility against the property of Rs.50 Lakhs?
Ans: Your loan amount eligibility with HDFC for property worth 50 Lakhs is Rs.30 Lakhs. The maximum loan eligibility offered by HDFC is 60% of the property value.
Read more for a mortgage loan eligibility check.
Q. What are the foreclosure charges on LAP?
Ans: There is nil charge if the loan is a floating interest rate loan, availed by an individual for personal purposes. For others and where the loan is used for business purposes, foreclosures charges of up to 2% will be applicable with applicable GST.
Q. How do I find HDFC Ltd near me?
Ans: HDFC Ltd branch locator helps to find the HDFC Ltd office near me. To find the nearest HDFC Ltd branch kindly refer to the HDFC Limited branches mentioned below.
Click to get the complete questionnaire on loan against property.
By,
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, and loan transfers. 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
Loanfasttrack’s specialized services include providing:
- The best bank for home loan in India.
- Best Banks For Mortgage Loan In India.
- Apply loan against property in Mumbai at assured low-interest rates.
- Qualify you for the highest loan against property eligibility.
- Lowest home loan rates in Mumbai.
- Instant loan in Mumbai &home loan in Mumbai.
- To help apply instant personal loan in Mumbai & business loan in Mumbai
- Low-cost home loan balance transfer.
- To help apply for business loan online.
Additional Read:
- How To Apply Online For Home Loan, Mortgage Loan & Loan Transfers.
- 8 Business Conditions for self-employed if you are applying for a Mortgage Loan.
- Step-By-Step Guide Of Internal Processing Of Home Loan & Mortgage Loan.
- Difference Between Home Loan & Loan Against Property.
- 10 Easy Ways To Know How To Repay Home Loan Faster.
List Of HDFC Branch In Mumbai, Thane & Navi-Mumbai
| HDFC Ltd Andheri East Nagardas Road Branch Rajgir Chambers, Second Floor, Old Nagardas Road, Near Chinai College, Andheri (East), Mumbai – 400069. | HDFC Ltd Andheri Kurla Road Branch A14, Ground Floor, The Leela Galleria, Andheri-Kurla Road, Andheri (East), Mumbai – 400059. | HDFC Ltd Andheri West Branch Akruti Arcade, First Floor, Opp. Wadia High School, J. P. Road, Andheri (West), Mumbai – 400058. | HDFC Finance Office Ambernath Branch Sai Shraddha Commercial Complex, 2nd Floor, Opp. Welfare Centre, Shivmandir Road, Ambarnath (East) – 421501 |
| HDFC Ltd BKC Branch 405, 4th Floor, Trade Center, Opp Mtnl Building, Off Cst Road, Bandra Kurla Complex, Mumbai – 400051. | HDFC Ltd Borivali East Branch Office No. 1001, B Wing, Western Edge Ii, Western Express Highway, Borivali (East), Mumbai – 400066. | HDFC Ltd Borivali West Branch Shankar Ashish, Shop No. 1, Ground Floor, Ramdas Sutrale Marg, Off Chandavarkar Road, Opp. Municipal School, Borivali (West), Mumbai – 400092. | HDFC Boisar Branch Unit No. 1, 1st Floor, White House, Near State Bank Of India, Above A U Finance Ltd., Boisar – Tarapur Road, Boisar (West), Dist. Thane, Boisar (West) – 401501. |
| HDFC Ltd Badlapur Branch Mandavkar Complex, A-wing, First Floor, Shop No. 2, Above Domino’s Pizza, Station Road, Badlapur (West), Dist. Thane, Thane – 421503. | HDFC Ltd Churchgate Branch HDFC Ltd Ramon House, H T Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai – 400020. | HDFC Ltd Chembur Branch Chembur HDFC Ltd – Sona Commercial Complex, 3rd Floor, Opposite BMC Office, Road No. 1, Chembur (East), Mumbai – 400071. | HDFC Ltd Dombivli East Branch First Floor, 101-104, Aai Co-op. Housing Society Ltd., Kelkar Road, Ram Nagar, Dombivli (East) – 421201. |
| HDFC Ltd Goregaon East Branch 1st Floor, 105, A Wing, Building No. 17, Dindoshi Onkar Chs Ltd., Opp. Oberoi Mall, Gokuldham, Goregaon (East), Mumbai – 400097. | HDFC Ltd Kalyan Branch Office No. 104-106, First Floor, Manovi City Center, Shivaji Chowk, R. P. Road, Opp. Gurudev Hotel, Kalyan (West) – 421301. | HDFC Kalyan Branch Nakshatra, Unit No. 7 & 8, Kalyan Murbad Road, Kalyan (West) – 421301. | HDFC Ltd Kharghar Sector 34-C Branch Ground Floor, Shop Nos. 1 & 2, Geetanjali Sujay, Plot No. 8, Sector No. 34 C, Owe – Kharghar, Navi Mumbai – 410210. |
| HDFC Kharghar Branch Office No. 1, First Floor, Bhoomi Heights, Plot No.5 & 6, Sector 8, Kharghar, Navi Mumbai – 410210. | HDFC Ltd Koparkhairane Branch Sai Proviso Ashlesha, Shop No. 5 & 6, Ground Floor, Plot 13-16, Sector 4a, Kopar Khairane, Navi Mumbai – 400709. | HDFC Ltd Office Karjat Branch Ground Floor, Unit Nos. 2-4 & 19, Mithila Complex, Near Kes School, Amrai, Karjat, Dist. Raigad – 410201. | HDFC Ltd Lower Parel Branch B2 – 201, 2nd Floor, Marathon Innova Next Gen, Opp. Peninsula Corporate Park, Off Ganpatrao Kadam Marg, Lower Parel (West), Mumbai – 400013. |
| HDFC Ltd Malad West Branch 104, Kemp Plaza, 1st Floor, Near Evershine Mall, Chincholi Bunder Road, Off Malad Link Road, Malad (W), Mumbai – 400064. | HDFC Ltd Mira Road Branch 2nd Floor, Harsh Plaza, 100 Ft. Road, Opp. Sector 2, Above Reliance Fresh, Mira Road (East), Thane – 401107. | HDFC Ltd Mulund West Branch 101 HDFC Ltd Mulund Branch, 1st Floor, D. S. Galaxy, Devidayal Road, Opp. Bmc Ward Office, Mulund (W), Mumbai – 400080. | HDFC Ltd Panvel Branch 101-102, Munoth Empress, Railway Station Road, Opp. Panvel Bus Stand, Old Panvel, Navi Mumbai – 410 206. |
| HDFC Ltd New Panvel Branch Neel Empress, 1st Floor, Plot No. 92 & 93, Sector 1-S, New Panvel, Navi Mumbai – 410206. | HDFC Ltd Seawoods Branch Goodwill Avenue, 1st Floor, Plot No. 1, Sector 40, Opp. Seawoods Railway Station, Nerul (West), Seawoods, Navi Mumbai – 400706. | HDFC Ltd Ghodbunder Road Thane Branch HDFC Ltd Thane Branch Office No. 6, First Floor, “Rosa Vista”, Opposite Suraj Water Park, Thane Ghodbunder Road, Thane (West), Mumbai – 400615. | HDFC Vikas Complex Thane Branch 11-13, Ground Floor, Vikas Complex, Old Castle Mill Compound, Old Bombay-Agra Road, Thane (West) – 400601. |
| HDFC Ltd Thane Gokhale Road Branch Manjula Arcade, First Floor, Gokhale Road, Near Ice Factory, Thane (West), Thane – 400602. | HDFC Limited Vikhroli Branch 103, 104, 1st Floor, Kailash Corporate Lounge, Veer Savarkar Road, Godrej Hiranandani Link Road, Off LBS Marg, Park Site, Near Kailash Commercial Complex, Vikhroli (West), Mumbai – 400079. | HDFC Ltd Vasai West Branch HDFC Vasai West- Ground Floor, Shree Swaminarayan Mandir Trust Building, Ambadi Road, 60ft Cross Lane, Vasai Road (West), Thane – 401202. | HDFC Ltd Virar West Branch Shantinath Banquet, Tirupati Nagar Phase I, Yadushree Complex, CFC Building, Virar West – 401303. |
| HDFC Ltd Vashi Branch Plot No. 82, Sector 17, Vashi, Navi Mumbai – 400703. |