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- Loan Against Property
Benefits
- Raise funds for personal or business needs through HDFC's Loan against Property!! Program specially designed for Self Employed segment.
- Residential and commercial properties are accepted as collateralCollateral is a necessary element that a recipient has to keep with him to get a loan. Securities can also be used as collateral. – get attractive rates of interest on both!
- Easy repayment options offered through loans with longer tenures.
Documents Required
Status of Loan Application
Click here to view the status of your Loan Against Property application.
Contact Us
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Do you want to know about HDFC Bank Loan Against Property?
With HDFC Bank's Loan Against Property, you don't need to look for any other funding options. Whether it’s generating funds for your business without reducing capital, planning your daughter's wedding or sending your son for education abroad HDFC's Loan against Property helps you meet all your financial needs.
- Interest rates: What could be better than getting a loan at competitive rates? Apply for HDFC Bank’s Loan against Property NOW!
- Property Type: Don't be worried about the type of your property. We accept both – residential and commercial*
- Flexible product offerings: Pick from an EMI based loan or an Overdraft facility, suited to your needs.
- Easy repayments: With longer repayment tenure & competitive interest rates, EMI is certainly lower compared to other funding options.
- Loan for the self employed: We offer customized loan options for self-employed individuals. Check out our specially designed products for the self employed to avail some great benefits.
*Conditions Applied
What are the eligibility criteria to avail Loan against Property?
If you have decided to expand your business or fund your personal requirements through a Loan against Property, we advise you to first check eligibility criteria according to your employment status. If you are a salaried individual, you will require the following documents:
- Your Proof of Residence - A ration Card / Telephone Bill / Electricity Bill / Voters Card will do.
- Your Proof of Identity - A Voter's Card / Driver's License / Employer's Card will do.
- Your latest Bank Statement / Passbook from where you can show a salary / income being credited from the past 6 months.
- Your Salary Slip from the last 3 months with all deductions shown. A Form 16 from the last 2 years will also be required.
- Copies of all Property Documents of the concerned property that you chose to pledge for the loan.
If you are a self employed professional/individual, you will require the following documents:
- Certified Financial Statement for the last 2 years.
- Your Proof of Residence - A ration Card / Telephone Bill / Electricity Bill / Voters Card will do.
- Your Proof of Identity - A Voter's Card / Driver's License / Employer's Card will do.
- Your latest Bank Statement / Passbook from where you can show a salary / income being credited from the past 6 months.
- Copies of all Property Documents of the concerned property that you chose to pledge for the loan.
What are the fees and charges applicable for Loan against Property?
| Description of Charges | Loan Against Property / Loan for Commercial Property | Dropline Overdraft Against Property / Commercial OD against Property | Loan Against Rent Receivables |
|---|---|---|---|
| Loan Processing Charges* ( * Minimum PF of Rs.7500/- ) |
2% | 2% | 2% |
| Pre-payment charges | 4% of the outstanding principal (Prepayment cannot be made until six months of repayment) | 4% of the operating limit prevailing at the time of prepayment within 12 months from the date of disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan.. After 12 months from the date of disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan., 2% of the operating limit prevailing at the time of prepayment. (Prepayment cannot be made until six months of starting of repayments). |
4% of the outstanding principal (Prepayment cannot be made until six months of repayment) |
| Part pre-payment charges | No pre-payment charge upto a maximum of 25% of your outstanding loan, once every financial year. (Part Prepayment cannot be made until six months of starting of repayments). |
N.A. | No pre-payment charge upto a maximum of 25% of your outstanding loan, once every financial year. (Part Prepayment cannot be made until six months of starting of repayments). |
| No Due Certificate / No Objection Certificate (NOC) | Nil | Nil | Nil |
| Solvency Certificate | Not applicable | Not applicable | Not applicable |
| Charges for late payment of EMI | 2 % per month on overdue EMI amount | 18% penal interest applicable on overdue amount | 2 % per month on overdue EMI amount |
| Charges for changing from fixed to Base Rate Linked interest rates | 0.25% of the loan amount | Only Base Rate Linked interest rate option | Only Base Rate Linked interest rate option |
| Charges for changing from Base Rate Linked interest rates to fixed rateAn interest rate that will remain at a predetermined rate for the entire term of the loan. of interest | 1.5% of the loan amount | Only Base Rate Linked interest rate option | Only Base Rate Linked interest rate option |
| Duplicate no due certificate / NOC | Rs 250/- | Rs 250/- | Rs 250/- |
| Stamp Duty & other statutory charges | As per applicable laws of the state | As per applicable laws of the state | As per applicable laws of the state |
| Cheque swapping charges | Rs 500/- | Rs 500/- | Rs 500/- |
| Bounce Cheque Charges | Rs 450/- | Rs 450/- | Rs 450/- |
| Duplicate Repayment Schedule charges | NIL | NIL | NIL |
| Legal / Repossession & Incidental chargesIncidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer. | At actuals | At actuals | At actuals |
| Account Maintenance Charges | NIL | Rs.5000 p.a. | Rs.10000 p.a. |
| Charges for CIBIL report | Rs.50 per request | Rs.50 per request | Rs.50 per request |
Note:
The above charges are exclusive of taxes and statutory levies as applicable from time to time. The above charges are the maximum charges applicable for each type of charge.
Have questions?
How do I apply for a Loan Against Property (LAP)?
You can apply for a loan in the following ways:
- Fill in the online application form and our representative will get in touch with you
- Call one of our PhoneBanking numbers provided on the website
- Visit your nearest branch
- Our existing liability customers may also get in touch with their Relationship Managers/ Personal Bankers to know more and apply for LAP
What Property can be considered as collateral for LAP?
You can provide your self-occupied Residential or Commercial property (Shops and Offices) as collateralCollateral is a necessary element that a recipient has to keep with him to get a loan. Securities can also be used as collateral..
What is the maximum loan I can get against my Property?
You can get a Loan Against Property up to a maximum of 60%* of the market value of your property.
* conditions apply
Can I avail an Overdraft against my Property?
A Loan Against Property can be availed as a Term Loan with EMI repayments or as a Drop line Overdraft Facility.
What are the fees & charges applicable?
You may refer to the "Fees & Charges" option under the product "Loan Against Property" and "Loan Against Rental Receivables".
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Get started with Loan Against Property
Inside your welcome kit you will find:
- A Welcome Letter
- Repayment Schedule
Did you know?
- You may contact our Retail Asset Customer Service Centre for any queries related to your Loan Against Property
- A visit to the nearest HDFC Bank branch will acquaint you with our latest offers
- If you are self-employed, you can get exclusive schemes and offers.
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Get started with Loan Against Property
Got your Welcome Kit? Inside it you should find:
- A Welcome Letter: A letter confirming the opening of your Loan Against Property Account
- Repayment Schedule: A detailed outline of your loan repayment terms. This will be dispatched to you within 12 days of your loan disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan..
- Loan Agreement: This will be dispatched to you within 10 to 15 days of your loan disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan..
Did you know?
- You may contact our Retail Asset Customer Service Centre for any queries related to your Loan Against Property
- A visit to the nearest HDFC Bank branch will acquaint you with our latest offers
- If you are self-employed, you can get exclusive schemes and offers.
You may also benefit from:
- Premium Current Account: Open a Premium Current Account to get more from your current account.
- Trade Current Account : Get the power of inter-city banking in a single account with a Trade Current Account.
- Plus Current Account: Experience the power of inter-city banking with access to more than 996 cities through a single account.
- Working Capital Finance: Fund your day-to-day transportation operations like fuel, tyre replacement, repairs, salary, maintenance, etc.with a single product.
What are the fees and charges I pay?
| Description of Charges | Loan Against Property / Loan for Commercial Property | Dropline Overdraft Against Property / Commercial OD against Property | Loan Against Rent Receivables |
|---|---|---|---|
| Loan Processing Charges* ( * Minimum PF of Rs.7500/- ) |
2% | 2% | 2% |
| Pre-payment charges | 4% of the outstanding principal (Prepayment cannot be made until six months of repayment) | 4% of the operating limit prevailing at the time of prepayment within 12 months from the date of disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan.. After 12 months from the date of disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan., 2% of the operating limit prevailing at the time of prepayment. (Prepayment cannot be made until six months of starting of repayments). |
4% of the outstanding principal (Prepayment cannot be made until six months of repayment) |
| Part pre-payment charges | No pre-payment charge upto a maximum of 25% of your outstanding loan, once every financial year. (Part Prepayment cannot be made until six months of starting of repayments). |
N.A. | No pre-payment charge upto a maximum of 25% of your outstanding loan, once every financial year. (Part Prepayment cannot be made until six months of starting of repayments). |
| No Due Certificate / No Objection Certificate (NOC) | Nil | Nil | Nil |
| Solvency Certificate | Not applicable | Not applicable | Not applicable |
| Charges for late payment of EMI | 2 % per month on overdue EMI amount | 18% penal interest applicable on overdue amount | 2 % per month on overdue EMI amount |
| Charges for changing from fixed to Base Rate Linked interest rates | 0.25% of the loan amount | Only Base Rate Linked interest rate option | Only Base Rate Linked interest rate option |
| Charges for changing from Base Rate Linked interest rates to fixed rateAn interest rate that will remain at a predetermined rate for the entire term of the loan. of interest | 1.5% of the loan amount | Only Base Rate Linked interest rate option | Only Base Rate Linked interest rate option |
| Duplicate no due certificate / NOC | Rs 250/- | Rs 250/- | Rs 250/- |
| Stamp Duty & other statutory charges | As per applicable laws of the state | As per applicable laws of the state | As per applicable laws of the state |
| Cheque swapping charges | Rs 500/- | Rs 500/- | Rs 500/- |
| Bounce Cheque Charges | Rs 450/- | Rs 450/- | Rs 450/- |
| Duplicate Repayment Schedule charges | NIL | NIL | NIL |
| Legal / Repossession & Incidental chargesIncidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer. | At actuals | At actuals | At actuals |
| Account Maintenance Charges | NIL | Rs.5000 p.a. | Rs.10000 p.a. |
| Charges for CIBIL report | Rs.50 per request | Rs.50 per request | Rs.50 per request |
Note:
The above charges are exclusive of taxes and statutory levies as applicable from time to time. The above charges are the maximum charges applicable for each type of charge.
Have questions?
Can I repay my loan earlier than the due date?
Yes you can repay your loan at any time during the loan tenure. However prepayment is not permitted within 6 months from loan disbursal date. For charge details, Click here
How can I make a request to foreclose my Loan Against Property account?
Kindly submit a written request to your nearest Retail Loan Service Centre to close your account. Our customer service desk will provide you with the necessary assistance.
What are the charges I need to pay to foreclose my Loan Against Property?
In case you wish to foreclose your Loan Against Property, the foreclosure chargesForeclosure charges are to be paid when a loan is closed before the tenure is completed. The bank will levy a certain percentage on outstanding loan amount as the penalty for fore closing the loans. This rate varies from bank to bank. are applicable on the outstanding principal or Outstanding Limit as the case may be.(Pre-payment is allowed only after 6 months from the date of loan disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan.).
What are the charges I have to pay to change the mode of repayment/ account for my loan?
A service charge of Rs.500 is applicable to swap for change to revised repayment instructions issued from non-HDFC Bank Account (ECS or PDC facility). A cheque / DD for Rs. 500 favouring HDFC Bank Ltd Loan Account Number shall be required along with the new repayment documents.
What will be done with the post-dated cheques if I request to change the mode of repayment/account for my loan?
Post-dated cheques/security cheques submitted earlier will be dispatched to your mailing address within 15 days, provided the revised instructions are verified and found to be in order.
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Avail a quick and secure loan against your gold holdings.
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