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  • HDFC Commercial Property Loan Reviews

    • HDFC Limited Home Loan
      "Response is good"
      0.5 5.0/5 "Blown Away!"
      HDFC LTD has done a good job, they contacted me on time and informed me the details. I had applied for a home loan. I could not proceed ahead because I was traveling and was not in town. I postponed the the plans. Not sure on the interest rate and charges.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      I have earlier taken a home loan from HDFC Ltd and even closed it as well. That process was smooth and I never had issues in getting the loan and the closure was easy too. The interest rate and charges was normal and the documentation was also easy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      I did not take the home loan from HDFC LTD because they were offering me a lower loan amount. They were willing to offer me only 28 Lakhs. So I went ahead with another institution who was offering me a better deal. The customer services and response was on time.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken the home loan from HDFC Ltd. The process went good without any challenges. Even the interest rate is good. I had received excellent customer service and response from HDFC Ltd for my home loan process. I got loan without any hassles.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Good deal"
      0.5 5.0/5 "Blown Away!"
      HDFC LTD has been really good in their services and process. I had taken my home loan from them and the documentation were very much normal. The disbursement of funds were done on time and the after loan services are also good. I got a good deal on the interest rate and charges.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I have directly reached HDFC Ltd for the home loan, their executive are done a good job. Within three days of time, they have approved my housing loan. HDFC Ltd offered me the interest rate around 8.4 % for the principal of Rs.25 lakhs with the tenure of 20 years. I am very happy with HDFC ltd.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 13, 2017
    • HDFC Limited Home Loan
      "Response part should be improved"
      0.5 2.0/5 "Expected more"
      Hdfc Ltd response is not upto the mark, I have applied for the home loan, I submitted all my documents along with the processing fee of Rs.7800. Even I got sanction letter for the home loan. But still I am not sure about the application status, no one contacted me properly, I am the one calling them and getting the status.
      Was this review helpful? 0
      , delhi
      Reviewed on Jul 13, 2017
    • HDFC Limited Home Loan
      "Best offer"
      0.5 5.0/5 "Blown Away!"
      Initially I have some offer from HDFC Ltd, I though to process with that rate, it was shown in online channel, finally HDFC Ltd gave me some thing else. Now my loan is under process, I got my sanction letter, I have finalized a plot to construct a house for that HDFC Ltd processing the interest of 8.65% and also they taking some processing fee.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 13, 2017
    • HDFC Limited Home Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I had applied for the HDFC Ltd for the home loan and as a customer I am very happy with the way they are process this loan. They had explained every bit of the information in detail before I even submitted my paper work. The interest rate and charges are very much reasonable too the loan amount I have taken is 17 lakhs and the rate of interest they have offered is 10% and 8.6% and the EMI is 16400
      Was this review helpful? 1
      , haridwar
      Reviewed on Jul 12, 2017
    • HDFC Limited Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      HDFC Ltd service is good but they don't have online payment option to make Loan due. If suppose I miss the EMI amount, I should visit to the bank to make the EMI. It would be great if they provide online payment, instead of visiting to the bank. Other than this everything is good, my home loan experience was good with HDFC Ltd, they giving offers especially for women they reducing the interest rate.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 10, 2017
    • HDFC Limited Home Loan
      "Satisfied service."
      0.5 5.0/5 "Blown Away!"
      I have applied home loan with HDFC limited , but then the HDFC executive told the place which I have selected is not eligible to get the loan. The rate of interest is nominal with HDFC limited.The customer service and the response was good with HDFC limited.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 07, 2017
    • HDFC Limited Home Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      Since the property I was buying was not listed with HDFC LTD, I had taken my home loan from another bank. The customer services are good and they were responsive. The interest rate and processing charges were also normal. Overall no hassles faced.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 07, 2017
    • HDFC Limited Home Loan
      "Looking for a better option"
      0.5 4.0/5 "Great!"
      I am not fine with HDFC Ltd. what they offering. I though they would be charging me 0% of processing fee for the car loan. But HDFC Ltd charging the processing fee of Rs.7000 it is high. But I am fine with their interest rate of 8.40% it is nominal. Therefore I didn't go head with HDFC Ltd for the housing loan.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      I have taken my home loan from HDFC Ltd and the process for it has been good. The documents was collected on time and it is not much of paperwork. The process is smooth too. The interest rate and processing charges is normal and in all there are no hassles.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan is from HDFC Ltd. The customer support is good and the process was completed very fast. It was smooth as well, without any hiccups. The interest rate was around 8% and the processing charges was also normal. The disbursement is on time too.
      Was this review helpful? 1
      , indore
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      HDFC Ltd stated that, I am eligible only the amount of 9 lakhs for the housing loan. But I applied an amount of 14.4 lakhs at least, I am was looking out for an amount of Rs. 12 lakhs. Hence I am not fine with the principal amount and therefore I closed the loan application.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Looking for a better service"
      0.5 3.0/5 "Satisfactory"
      HDFC ltd were asking lot of documents like KYC ,property documents, IT and others it was very difficult to submit all papers. But ICICI don't have such a big process, moreover I didn't get the response immediately from HDFC . They should reach the customer immediately to provide the better service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 05, 2017
    • HDFC Limited Home Loan
      "Communication gap should be eliminated"
      0.5 2.0/5 "Expected more"
      I didn't receive any call from HDFC Ltd that's the first reason, I tried reach them multiple time. One of the online channel executive also coordinated with me to connect the bank. Finally I got a mail from HDFC Ltd some one will be reaching me for the loan process but no body turned up. I would like to suggest them to acknowledge the customer request.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 05, 2017
    • HDFC Limited Home Loan
      "Quick Process"
      0.5 5.0/5 "Blown Away!"
      People from HDFC ltd visited my premises and collected the documents for the home loan. Even they had completed and sanctioned the loan in a week time. Their services are really good and I had received good response from them during the loan process.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 05, 2017
    • HDFC Limited Home Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      HDFC LTD quoted 9.6% for my home loan. The interest rate is comparatively better. I never faced any kind of issues with them for the home loan process. Customer service is quite good and there were no hidden charges when it comes to the loan process,.
      Was this review helpful? 0
      , pollachi
      Reviewed on Jul 04, 2017
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    HDFC Commercial Property Loan

    Home Loan BYTES FROM OUR KITCHEN

    Overview:

    HDFC Commercial Property Loan is a financing product designed for commercial purchase of plots and ready premises/buildings. This loan is available mainly for purchase of office space, for professionals and non-professionals. This loan cannot be used for purchase of residential units.

    Home Loan Offers

    Perfect Home Loan Deals for you

    HDFC Commercial Property Loan Features:

    The following are the key features of HDFC’s Commercial Property Loan:

    • The loan can be taken any of the following purposes:
      • Purchase of a built-up office space
      • Extension, renovation or construction of an office space
      • Balance transfer of a commercial loan from another bank
    • You can apply for the loan either individually or jointly. The joint owners of the property as well as any close family member can apply for the loan together.
    • The maximum repayment period is 15 years.
    • The loan amount available depends on the following conditions:
    Loan Amount Maximum Funding
    Rs. 20 lakh or less 90% of the cost of property
    Rs. 20.01 lakh to Rs. 75 lakh 80% of the cost of property
    More than Rs. 75 lakh 75% of the cost of property

    HDFC Bank Commercial Property Loan Interest Rates and Other Charges:

    The Commercial Property Loan comes under the Adjustable Rate linked to HDFC’s Retail Prime Lending Rate (RPLR). The interest rate on the loan could be reset every 3 months if the RPLR changes. If the interest rate goes up, the interest component in the equated monthly instalment (EMI) will increase and the principal component will go down. This in turn, will lead to increase in loan tenure. If the interest rate decreases, then the EMI will have a higher principal repayment component and a lower interest component, and the loan tenure will decrease.

    The current rates of interest at HDFC are as follows:

    Type of Loan Loan Slab Interest Rates RPLR Minus Spread
    Adjustable Rate Loan Any loan amount 10.85% to 12.60% p.a. 16.30% - (5.45 to 3.70)
    TruFixed Loan – 2 & 3-Year Fixed Rate Variant Any loan amount 10.75 to 12.50 16.30% – (5.55 to 3.80)

    Processing fee: Up to 1.5% of the loan amount, subject to a minimum of Rs. 3,000, plus GST.

    Pre-payment charges: In case of fixed-rate loan, there will be no pre-payment charges for up to 25% of the opening principal balance for the particular fiscal. But pre-payment of more than 25% of the opening balance or complete amount will attract 2% pre-payment charges plus GST. There will be no pre-payment charges for adjustable loan rate customers for any amount. The foreclosure charges are also waived off is partial pre-payment is made after 3 years of taking the loan, though full pre-payment will attract a fee of 2% plus GST.

    Conversion fee: The following fees are applicable for switching from one type of loan to another:

    • From fixed first rate loan (during the period of fixed rate of interest) to normal adjustable rate loan: 2% of the principal outstanding balance, the undisbursed amount, and applicable GST.
    • From fixed first rate loan (during the period of adjustable rate of interest) to normal adjustable rate loan: 0.50% of the principal outstanding balance, the undisbursed amount, and GST.
    • From normal adjustable rate loan to fixed first rate loan: 0.50% of the principal outstanding balance, the undisbursed amount, and GST.
    • Switch to a lower interest rate in the adjustable interest rate option: 50% of the difference of the two coupon rates with at least 0.50% of the principal outstanding balance as fees, subject to a maximum of 1.50% of the principal outstanding balance, plus GST.

    Delayed payment charges: Delay in interest payment or EMI will attract a fine of 24% per annum.

    Increase/decrease in loan term: Up to Rs. 500 plus GST

    Eligibility Criteria for HDFC Commercial Property Loan:

    The loan is available to the following persons:

    • Self-employed professionals (doctors, lawyers, chartered accountants, architects, consultants, etc.)
    • Self-employed non-professionals (traders, agents, contractors, shop owners, etc.)

    Documents Required for HDFC Commercial Property Loan:

    The following documents, which need to be self-attested, are required to avail an HDFC Commercial Property Loan:

    • Proof of identity: Passport/Voter’s ID/Aadhaar/Driving licence/PAN/MNREGA job card
    • Proof of residence: Passport/Voter’s ID/Aadhaar/Driving licence/MNREGA job card/ Utility bill not more than 2 months old/Latest bank account or post office saving account statement or passbook/ration card/rent or lease agreement
    • Proof of income:
      • Income Tax Returns along with computation of income for the last 3 Assessment Years
      • Last 3 years’ Balance Sheet and Profit & Loss Account Statements, with Annexures/Schedules
      • Last 6 months’ Current Account Statements of the business entity
      • Last 6 months’ Savings Account Statements of the individual
    • Business Profile
    • Latest Form 26AS
    • List of Directors and Shareholders with their individual shareholding certified by a CA/CS if the business entity is a company
    • Memorandum and Articles of Association of the Company
    • Partnership deed if the business entity is a partnership firm
    • Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc.
    • Passport size photographs of all the applicants/co-applicants
    • Cheque for processing fee favouring ‘HDFC Ltd.’
    • Proof of Own Contribution
    • Copy of Allotment Letter/Buyer Agreement of the property
    • Title Deeds including the previous chain of the property documents in case of resale

    FAQs:

    1. Is it mandatory to insure the property that I buy?

      Yes. The property bought through loan from HDFC needs to be duly insured for al hazards such as fire. The beneficiary of the insurance should be HDFC as your property will be with the bank as collateral security for your loan.

    2. Do I have to provide any asset as security for the Commercial Property Loan?

      No. The property that you buy with the loan taken from HDFC will act as the collateral security for the loan. 

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