A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • HDFC Commercial Property Loan

    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.

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    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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    HDFC Commercial Property Loan Reviews

    • HDFC Limited Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have home loan with HDFC BANK . I got the service while taking the loan it was very great experience . They charge rate of interest and i am fine with that . The customer executive is very responsive they help me through out the process . Overall it is good .
      Was this review helpful? 1
      , vadodara
      Reviewed on Jun 23, 2019
    • HDFC Limited
      HDFC Limited Home Loan
      "Good loan services"
      0.5 4.0/5 "Great!"
      Long back, i have taken my home loan from HDFC. When i purchased the loan the interest rate was 8.5% and now increased upto 9.7%. I have been paying the EMI of RS. 8700 and it will be directly deducted from my account. It took 1 week to sanctioned the loan. Total tenure period of the loan is 20 years.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 22, 2019
    • HDFC Limited Home Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      My home loan is active with HDFC Limited, I have taken the amount of Rs. 28 lakhs for the duration of 30 years. The interest rate was economical and they taken some processing fee it was minimal . The loan formalities are very simpler and they took less time to sanction the loan amount.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 22, 2019
    • HDFC Limited Home Loan
      "Process should be customer friendly"
      0.5 4.0/5 "Great!"
      I have applied my home loan with HDFC. Since the interest rate is quite high i have denied the same. I went to them because i get a good service from them. I was applied the loan amount of Rs. 25 lakhs but they have offered me a interest rate of 10% with some processing fee as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2019
    • HDFC Limited Home Loan
      "Great Experience and Great services"
      0.5 5.0/5 "Blown Away!"
      I appreciate home loan department of HDFC Limited, the home loan service is very good than personal loan. I took the loan amount of Rs. 18 lakhs it was taken before 2.5 years, they charged me the interest around 8% it was satisfactory. The process was streamlined without any hassles. But some executives are not helpful to the customers, they should improve.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jun 21, 2019
    • HDFC Limited Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have selected HDFC home loan amount 20 laksh , Rate of interest 11 percentage tenure 15 year , EMI1 Rs 16000 and one time process fee is applicable .While documents submitted through executive he given clear information home loan. There is no delay while disbursal loan amount.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2019
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have selected HDFC limited loan amount 17 lakhs, tenure 20 year and Rate of interest 8.94 percentage, EMI Rs12580 . Customer service is good and responsive. while documents through branch. There is no delay disbursal loan amount.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jun 20, 2019
    • HDFC Limited Home Loan
      "Good bank and they are proper in giving loan"
      0.5 4.0/5 "Great!"
      From HDFC, they are sending the messages like, they could not reach me but i did not getting any calls from them. Their fast is process and the documentation process was very less compared to other banks hence i have approached with HDFC. No one approached me interest rate negotiation. I have applied the loan amount of Rs. 25 lakhs and they did not informed me about pre-closure and partial payment.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 19, 2019
    • HDFC Limited Home Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I took 24L as home loan from HDFC LIMITED. They are providing excellent response and am very satisfied with the service. I took the loan in the month of September 2018. The rate of interest is too good, actual interest is 8.70% but they sanctioned the loan for 8.18% for 7 years.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 19, 2019
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been taken my housing loan with HDFC LIMITED a while ago, the loan amount which they have given to me was sufficient, the rate of interest they have charged me was sufficient, the processing fee they have charged me which was minimal, still this loan is running, so far i did not face any issue.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 17, 2019
    • HDFC Limited Home Loan
      "Need to develop an online application"
      0.5 4.0/5 "Great!"
      I have taken a home loan in HDFC for more than 2 years before which was processed directly to bank. On time the loan was processed.The loan amount was sufficient for the tenure of 10 years. The rate of interest is okay when compare before now they have increased. The processing fee is okay. In HDFC housing support application is not working in proper.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 17, 2019
    • HDFC Limited Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in HDFC bank for more than one year. At the time loan process in easy manner and got sanctioned within a month for the amount of 25lakhs duration of 15 years. The rate of interest is nominal and the processing fee is applicable and nominal.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 14, 2019
    • HDFC Limited Home Loan
      "Best Experience"
      0.5 5.0/5 "Blown Away!"
      From Hdfc Limited I took housing loan it was through online channel, my principal amount was Rs. 40 lakhs, the interest rate is nominal as per the RBI guideline, there was no processing fee taken from my end. I added my spouse as a co applicant, hence the process was easy. They are doing online documents its simpler. I purchased a land to construct an individual house.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 13, 2019
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been taken my housing loan with HDFC LTD from long time, the loan amount which they have given to me was sufficient, it was as per my requirement, the rate of interest they have charged me up to 8.8% which was less comparing to other bank, even the processing fee they have charged me was minimal, Still this loan is running.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jun 11, 2019
    • HDFC Limited Home Loan
      "Best loan experience"
      0.5 5.0/5 "Blown Away!"
      From HDFC limited, I availed the housing loan of Rs. 35 lakhs for the duration of 10 years. They collected normal papers like kyc, address proof, from 16 and company id card. Within one week, the verification process was completed from the bank end. Without adding the co applicant I got good principal since I am a privilege customer.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 11, 2019
    • HDFC Limited Home Loan
      "Rate of Interest is high"
      0.5 4.0/5 "Great!"
      I took my home loan from HDFC since promoter had a tie up with HDFC, i have chosen them. I chosen the tenure period for 15 years. I have applied the loan amount of Rs. 7.5 lakhs and they have sanctioned the same. I am paying the EMI of Rs. 8293 and the amount has been deducted through ECS. They have not changed the rate of interest as per the RBI rules.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 09, 2019
    • HDFC Limited Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The experience was good and i am using the loan from last 2.5 years. The documentation process was simple and fast process to get the loan. The processing fee was there with this loan which was 5K approximately. The loan amount was good which was 5L. The rate of interest was nominal with this loan.
      Was this review helpful? 3
      , vadodara
      Reviewed on Jun 08, 2019
    • HDFC Limited Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken Home Loan through HDFC Ltd which was directly taken .The rate of interest and the processing fee was very good compared to others .I have applied for the loan amount of 14lakhs for 20 years ,This loan is still active .I have got the loan amount on time and it was very sufficient as well.The agent gave all the information about the loan process clearly .
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 08, 2019
    • HDFC Limited Home Loan
      "Easy loan process"
      0.5 5.0/5 "Blown Away!"
      Since my salary account with HDFC hence i have chosen HDFC for my home loan. The loan process is easy because i hold a salary account with them. They have provided me a interest rate of 8.5% and the processing fee was Rs. 11000 for the loan amount of Rs. 30 lakhs and i have selected the tenure period of 20 years. Within 10 days, they have approved the loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 03, 2019
    • HDFC Limited Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Home loan from HDFC bank. I had very good experience with HDFC , i use to pay EMI on time . I got hassles free services from customer executive of HDFC . Rate of interest is is high in market . My loan amount is up to the mark. Overall it is good .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 03, 2019
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