Get Quick Funds With A Loan Against Property

Easy Application | Fast Disbursal | Flexible Repayment

Avail a loan worth up to 65% of the property value 

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HDFC Loan Against Property

 

Eligibility & Documentation


Loan Against Property eligibility is determined by the customer's financial situation and the property being offered as collateral. There is no complex documentation required for HDFC Bank's Loan Against Property, and the funds will be credited to your account once your LAP loan is approved.

 

HDFC Loan Against Property Eligibility Criteria

 

 

Salaried Individuals

Self-Employed Individuals

Business / Company

Entitled Borrowers

Government / Semi government / PSU / Private/MNCs/ Proprietorship/Partnership businesses

Proprietor /

Partners / Directors

Partnership or Private Limited firms engaged in Manufacturing, Servicing, or Trading

 

 

Self Employed Professionals such as Chartered Accountants, Company Secretary & Doctors

 

Age

The person should be 25 years old at the time of loan application and his maximum age should be 65 years

Applicant must be a minimum

of 25 years of age at the time

of application and should be

a maximum of 65 years at

loan maturity.

Proprietor / Key Partner / Main

Director must be a minimum of 25

years at the time of loan

application and should be

a maximum of 65 years at

loan maturity.

Experience / vintage

1 year of overall experience and 2 months

with the present employer.

· Must be running the

same business for the last 3 years

· Professionals with

qualification of CA /

CS/doctor with a minimum

of 1 year of practice.

Business stability/history

of minimum 3 years in the

same business.

Income

Net monthly in-hand salary should

be Rs.25,000

Gross annual income should

be a minimum of Rs.3 lakh

Annual turnover should

be a minimum of Rs.10 lakh

Citizenship

Individuals with Indian citizenship

Individuals with Indian citizenship

Proprietor / Partners / Directors with Indian citizenship

 

 

Documents Required To Avail HDFC Loan Against Property

 

Salaried Individuals

Self-Employed Individuals

Firm / Company

Identity Documents

· Aadhaar Card

· Passport

· Voter's ID Card

· PAN Card

· Driving License

· Employer's Card

 

 

· Aadhaar Card

· Passport

· Voter's ID Card

· PAN Card

· Driving License

 

· Firm/Company PAN Card,

GST Registration Certificate

(If applicable), and Other

Applicable Registration

· KYC of Partners / Directors

PAN Card and Aadhaar Card

· PAN Card

Address proof

· The electricity bill for owned

premises

· Rent agreement for

Rented premises

· Passport

· The electricity bill for

owned premises

· Rent agreement for

Rented premises

· Passport

· The electricity bill for

owned premises

· Rent agreement for

Rented premises

· Passport for Partner / Directors

Income Proof

Copies of all the property documents (property to be pledged for the loan)

· Income Tax Returns along

with computation for the

latest 2 years

· Profit/Loss statement and

balance sheet for the latest 2 years

 

· Income Tax Returns along

with computation for the

latest 2 years

· Profit/Loss statement and

balance sheet for the latest 2 years

· GST Returns

Business / Employment

proof

Copies of all the property documents (property to be pledged for the loan)

Copies of all the property documents

(property to be pledged for the loan)

Copies of all the property documents (property to be pledged for the loan)

 

Bank Account Statement

Salary credit bank account

statement of latest 6 months

Certified Financial statement for

the previous 3 years

Certified Financial statement for

the previous 3 years

Other Documents

Form 16 for the previous 2 years

 

*The aforementioned list of documents for an HDFC LAP loan is suggestive. Extra documents may be needed at the time of loan processing.

eligibility

How to improve your HDFC Loan Against Property Eligibility?

Follow these tips to improve your HDFC Loan Against Property Eligibility –

Get Rid of Debts

Maintain a good repayment history by paying off your existing loans and liabilities on time without defaulting

Maintain a good CIBIL Score

Try to build a CIBIL score above 750

Do not apply for multiple loans simultaneously

Apply for a loan that fits your needs, raising multiple loan applications can decrease your credit worthiness

Choose a longer loan tenure

Opt for a longer repayment tenure that will allow you to disburse the overall due amount over a longer time span. This will also help in reducing the EMI amount.

Add Co-applicants

A co-borrower (a spouse, or parent) with a good income and credit score will boost your eligibility for a bigger loan amount.

improve-eligibility

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