HDFC Bank offers Loan Against Property to meet your personal and business financial requirements. You have to pledge your property to get the financing. The Loan Against Property scheme offered by HDFC lets you get 65% of the total value of your property.
|Loan Type||Interest Rate|
|Loan Against Property/For Commercial Property||9.60% p.a. to 10.45% p.a.|
|Loan Against Rent Receivables||9.60% p.a. to 10.45% p.a.|
|Dropline Overdraft Against Property||10.10% p.a. to 10.95% p.a.|
*Note that the current MCLR is 8.70%.
|Charges||Loan for Commercial Property||Loan Against Rent Receivables||Commercial Overdraft Against Property|
|Interest Rate||9.60% p.a. to 10.45% p.a.||9.60% p.a. to 10.45% p.a.||10.10% p.a. to 10.95% p.a.|
|Processing Fee||Up to 1% of the loan amount||Up to 1% of the loan amount||Up to 1% of the loan amount|
|Prepayment Charges||Up to 2.5% of the principal outstanding||Up to 2.5% of the principal outstanding||
|Late Payment Charges||2% per month||2% per month||NA|
|Interest Applicable on the Over-utilised Amount (Drop Line Overdraft)||NA||NA||18% p.a. on the amount utilised above the approved limit|
|Stamp Duty||As per state laws||As per state laws||As per state laws|
|Cheque Bounce Charges||Rs.550||Rs.550||Rs.550|
|Repayment Schedule Charges||Rs.200 for each schedule||Rs.200 for each schedule||Rs.200 for each schedule|
|Cheque/SI/ECS Swapping Charges||Rs.500||Rs.500||Rs.500|
|Account Maintenance Charges||Rs.5,000||Rs.5,000||Rs.5,000|
|Commitment Fees for Overdraft Accounts||NA||NA||Up to 0.10%|
|Property Documentation Retention Charges||Rs.1,000 + applicable taxes||Rs.1,000 + applicable taxes||Rs.1,000 + applicable taxes|
|Conversion Fees||Up to Rs.50 lakh: Rs.5,000 + GST for each proposal Rs.50 lakh and above: Rs.10,000 + GST per proposal||Up to Rs.50 lakh: Rs.5,000 + GST for each proposal Rs.50 lakh and above: Rs.10,000 + GST per proposal||Up to Rs.50 lakh: Rs.5,000 + GST for each proposal Rs.50 lakh and above: Rs.10,000 + GST per proposal|
|Spread Revision||0.1% of the principal outstanding per proposal||0.1% of the principal outstanding per proposal||0.1% of the principal outstanding per proposal|
|Penalty Interest Charged for Non-adherence to ESCROW Account||Additional 2% on the existing interest rate||Additional 2% on the existing interest rate||Additional 2% on the existing interest rate|
|Penalty Interest Charged for Non-adherence to Submission of Referral Documents||Additional 2% on the existing interest rate||Additional 2% on the existing interest rate||Additional 2% on the existing interest rate|
|Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) Charges||Rs.500 + GST||Rs.500 + GST||Rs.500 + GST|
|Property Swapping Charges||0.1% of the loan amount||0.1% of the loan amount||0.1% of the loan amount|
|Document Retrieval Charges||Rs.500 per set||Rs.500 per set||Rs.500 per set|
*GST = Goods and Services Tax
|Age||18 years to 65 years|
|Profession||Salaried or self-employed|
|Documentation Required for Salaried Applicants||
|Documentation Required for Self-employed Applicants||
1. How can I apply for Loan Against Property?
You can apply for Loan Against Property by:
2. How can I foreclose my loan?
In order to foreclose your loan, you have to submit a written request to Retail Loan Service Centre. HDFCs’ customer care department will get in touch with you to guide you through the foreclosure process.
3. Can I pledge my commercial property to get the financing?
Yes, you can put either your commercial property or residential property as collateral.
4. What is Dropline Overdraft Against Property?
It’s an overdraft facility where the credit limit is set by the bank. You can withdraw the amount as per your requirements. The interest is charged only on the amount withdrawn or utilised and not on the sanctioned amount.
5. Can NRIs opt for this facility?
No, only residential Indians are eligible to apply for the Loan Against Property facility.
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