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  • HDFC Commercial Property Loan Reviews

    • HDFC Limited Home Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      Communication part was not good with the HDFC limited on my home loan like that did not stick to their commitments. Rate of interest was not at all constraint and I would like to suggest that they need to call the customer at a specified time..
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2017
    • HDFC Limited Home Loan
      "Best interest rates with long process"
      0.5 3.0/5 "Satisfactory"
      The major drawback with HDFC LTD is their process. as it is very slow, also they don't respond nor they provide the status of the loan. I had applied for the loan during the month of November, but I got the loan during the month of April which is too long. Totally, they took around 4 to 5 months of time to disburse the loan. The rate of interest is very much nominal but for the documentation and for the processing they had charged around 22k. Expect for the interest rate everything else has to be improved and they need to focus a lot on the communication with the customer. Also they need to be more clear their process and in providing the application status.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 22, 2017
    • HDFC Limited Home Loan
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for the home loan with the HDFC LTD and it took minimal time to complete the documentation process and it got disbursed on time. Documentation was really fast They were very much good in their services. They kept contacting me continuously. The rate of interest was 8.7% and other charges was around 18000 rupees and this was for a tenure of 11 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 21, 2017
    • HDFC Limited Home Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      They are good in the service provided related to the home loan process related to the HDFC LTD They required much documents and the process was convenient also .1st bank executive came and collected the documents later on I also had to go the bank to sing some annexture the loan amount I applied for 27 laks and I received full amount 13000 charges was there need to pay and the ROI was 8.5% and tenured for 10 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 21, 2017
    • HDFC Limited Home Loan
      "Satisfactory services"
      0.5 4.0/5 "Great!"
      It was a on time process for me at HDFC Ltd. The team processed my details on time and the disbursement for the home loan also happened on time. They were nominal on the rate of interest and processing charges. I got a rate around 9% and in all a satisfying experience.
      Was this review helpful? 1
      , indore
      Reviewed on May 19, 2017
    • HDFC Limited Home Loan
      "Overall good process"
      0.5 4.0/5 "Great!"
      It was overall a good experience with HDFC LTD for the home loan. But there was a bit of a delay during the process. The whole thing was completed within one month. The rate of interest was nominal. It was around 9% and the processing charges were normal too. It was in line with the market rate.
      Was this review helpful? 1
      , kolkata
      Reviewed on May 19, 2017
    • HDFC Limited Home Loan
      "Below average"
      0.5 1.0/5 "Really Bad"
      The rate of interest levied was around 8.5% for the home loan with the HDFC limited , also I expected that should be get reduced. Overall , my experience is very much satisfactory. Processing charges were huge with them and the loan amount got disbursed during the month of May.
      Was this review helpful? 0
      , pune
      Reviewed on May 18, 2017
    • HDFC Limited Home Loan
      "Better Service"
      0.5 3.5/5 "Pretty good"
      I had taken a housing loan from HDFC Ltd. Interest rate is something equal to the market value so I am satisfied with that. The process went good without any hurdles but in the initial stage they provided a very good service, later on I had to followup with them for the process. Customer support was good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 18, 2017
    • HDFC Limited Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      Hdfc limited has done the home loan in quicker process. The verification and the documentation took around 7 days and the loan got disbursed in next 7 days, which was done within the promised time period. The hdfc interests and processing fee is nominal here.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2017
    • HDFC Limited Home Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I got enough support from HDFC Ltd for my housing loan. They are very prompt in document collection, submission, processing the application and everything. They are very good in followups, I did not find any difficulties while processing the loan. The service is completely good.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 18, 2017
    • HDFC Limited Home Loan
      "Simplify the process"
      0.5 2.0/5 "Expected more"
      I had taken housing loan from HDFC Ltd in the year of 2012. The current interest rate of my housing loan is of 8.85% which is as same as other banks, there is no much difference in the rate of interest. The loan process is really not simple with them, it is very hard.
      Was this review helpful? 0
      , haldwani
      Reviewed on May 17, 2017
    • HDFC Limited Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      It was a hassle free experience with HDFC Ltd for the home loan. Everything was on time and there was no delay, after submitting my documents the loan loan was sanctioned within a week. The disbursement was on the date I requested for. The rate of interest was of 9.15% during the process of the loan and when it was disbursed it was of 8.5%.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 17, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      8.5% was the interest rate for my home loan with the HDFC limited and the customer service was good and the loan amount got disbursed within fifteen days of time. Services are also fine one with the HDFC limited and the processing charges were nominal one.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Best"
      0.5 5.0/5 "Blown Away!"
      I got the home loan with the HDFC limited and the interest rate was around 8.6%. Loan amount got credited to my account within ten days of time. Services and other aspects are best one with the HDFC limited with nil processing charges.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Reliable"
      0.5 4.5/5 "Excellent!"
      Actually, The experience was good with the HDFC limited for my home loan. Everything got happens at the right time and the rate of interest was around 8.5%. Loan amount got disbursed to my account within stipulated time period, also there was delay from both of the ends.
      Was this review helpful? 0
      , chennai
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I got the home loan with the HDFC limited because they have sound knowledge in it. 8.5% is the rate of interest and the services are fine one with them. I got the loan amount as immediately. Documentation papers went in the normal way.
      Was this review helpful? 0
      , chennai
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      HDFC limited has provided the best rate of interest and the offers, so I had choosen HDFC limited for the home loan. 8.5% was the interest rate at that time for the home loan. Within two months of time, I got the home loan , also the delayed due to my end also. There are no suggestion to for HDFC limited.
      Was this review helpful? 0
      , pune
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Good. Could have been more helpful"
      0.5 4.0/5 "Great!"
      It was a smooth process with HDFC LTD for a home loan because they were helpful, especially the executive named Prabhu at the Chennai office. He went beyond his capablities to sort out my queries. The process took two and half months because I delayed to submit few documents. The rate of interest was of 8.5% and the processing charges were waived off. The Legal team was not supportive as they wanted a rectified sale deed but they were not helpful in telling me how to get it done. I also had to submit another property document as a collateral till I got the deed done.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "The simplest process"
      0.5 5.0/5 "Blown Away!"
      Interest rate for my housing loan with HDFC Ltd was 11.25% which is normal when compared with any other banks in the market. Also it is the current rate running in the market as well. There is no challenges on their documentation part because it is so simple.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      HDFC Ltd was fairly good and I had no issues on the process for the home loan. The processing charges was refunded as promised and the rate of interest of 8.5%. The deal was reasonable and decent enough. The after loan services was smooth and in all I had no difficulties.
      Was this review helpful? 0
      , pune
      Reviewed on May 16, 2017
    Common Loader Icon

    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.

    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 service tax.

    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 service tax. 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 taxes.

    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 taxes.
    • 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 taxes.
    • From normal adjustable rate loan to fixed first rate loan: 0.50% of the principal outstanding balance, the undisbursed amount, and taxes.
    • 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 taxes.

    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 taxes

    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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