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  • HDFC Mortgage Loan

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  • 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.

    HDFC Interest rates for Salaried and Self-employed Applicants

    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%.

    Loan Against Property Charges

    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
    • Up to 4% if payment is made within 12 months
    • After 12 months, 2% of the operating limit
    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

    Eligibility Criteria

    Age 18 years to 65 years
    Profession Salaried or self-employed
    Nationality Indian

    Documents Required

    Documentation Required for Salaried Applicants
    • Proof of residence: Electricity bill, voter’s ID card, telephone bill, or ration card
    • Proof of identity: Voter’s ID card or employer’s card
    • Last 6 months’ salary slips
    • Last two years’ Form 16
    • Latest bank statements
    • Copies of property-related documents
    Documentation Required for Self-employed Applicants
    • Financial statements for the last 3 years certified by a chartered accountant (CA)
    • Proof of residence: Electricity bill, voter’s ID card, telephone bill, or ration card
    • Voter’s ID card or employer’s card
    • Latest bank statements

    Features

    • Loans for both salaried and self-employed individuals
    • Attractive interest rates
    • Longer loan tenure
    • Individual or joint application facility
    • Hassle-free documentation process

    FAQs

    1. How can I apply for Loan Against Property?

    You can apply for Loan Against Property by:

    • Filling in the online application form
    • Visiting the nearest branch and submitting the duly filled form
    • If you are an existing customer, you can get in touch with the Relationship Manager or Personal Banker to know how to apply for Loan Against Property
    • Call the phone banking number to know the application process

    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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