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

 

Interest Rates & Charges


To borrow smartly, one must be able to take out a loan against property with reasonable terms. We are aware of this requirement and have designed our loan to be as affordable as possible. With some of the lowest costs available, HDFC Loan Against Property is provided at a competitive rate of interest.

 

Applicable Fees

 

Interest rate

 

Our LAP loan interest rate starting at 8.95 percent would help you control costs and keep your EMIs manageable. Fund all types of personal or professional costs while assuring the best possible return.

 

Processing charges

 

A processing fee is charged when a Loan Against Property is processed. The application fee is a one-time charge imposed during the submission process. Our fee is 1 percent or Rs.7500/- of the approved loan value, along with the applicable taxes.

 

Pre-payments/Foreclosure Charges

 

Charges

Loan Against Property

Dropline Overdraft (DLO) Against property

Loan Against Rent Receivables

Floating rate term loan availed by Individual borrowers for Business Purpose

2.5 % of the Principal Outstanding.

NIL charges apply to prepayments over 60 months after disbursement.

A maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months.

Maximum of 2% of the operating limit prevailing at the time of prepayment (Post 12 months).

2.5 % of the Principal Outstanding.

NIL charges apply to prepayments over 60 months after disbursement.

Floating rate term loan availed by Individual borrowers for End Use other than business purpose

NIL

Maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months of the date of disbursement.

 

Maximum of 2% of the operating limit prevailing at the time of prepayment (Post 12 months).

NIL

Floating rate term loans availed by Micro & Small Enterprises and Closure from Own Source

NIL

NIL

NIL

Floating rate term loans availed by Micro & Small Enterprises and Closure from borrowed funds

2.5 % of the Principal Outstanding.

NIL charges apply to prepayments over 60 months after disbursement.

2% of the operating limit prevailing at the time of prepayment.

NIL

Floating Rate term loans availed by Non-Individual borrowers

Post 6 months from the disbursement of Loan/Facility and up to 60 months -Maximum of 2.5% of the Principal Outstanding.

NIL charges apply to prepayments over 60 months after disbursement.

A maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months.

Maximum of 2% of the operating limit prevailing at the time of prepayment (Post 12 months).

Post 6 months from the disbursement of Loan/Facility and up to 60 months -Maximum of 2.5% of the Principal Outstanding.

NIL charges apply to prepayments over 60 months after disbursement.

 

Pre-payments Charges (Cannot be made until 6 months)

You will not be charged a prepayment charge up to a maximum of 25% of the outstanding loan amount each year. If prepayment cannot be made until 6 months after the loan has been repaid for non-individual borrowers. In cases where the amount being prepaid exceeds 25 percent, the charges will be applied to the entire amount. This does not apply to amounts above the 25% threshold.

Prepayments made after 60 months from the last disbursement of the loan will not incur a prepayment charge.

 

Part Pre-payments Charges (Cannot be made until 6 months)

Charges

Loan Against Property

Dropline Overdraft (DLO) Against property

Loan Against Rent Receivables

Late payments of EMI

2% per month on overdue EMI amount

NA

2% per month on overdue EMI amount

Interest charges on Over utilized amount for DLO

NA

18% per annum on the amount utilized above the available credit limit.

NA

Stamp Duty and other statutory

As per applicable laws of the state

Payment Return Charges

Rs.450

Repayment schedule Charges

Rs.50 per instance

Repayment mode change Charges

Rs.500

Legal/Repossession and Incidental Charges

At actuals

Account Maintenance Charges

NA

Rs.5000 per annum

NA

Commitment charges for overdraft accounts (minimum Rs.5000)

NA

· No commitment fee charges

to be charged,

If average quarterly

utilization > 30%.

· Charges up to 0.10% will

be charged on

the difference between the

actual utilization of 30%,

If the average

quarterly utilization < 30%.

NA

Conversion charges for Change in Reference rate (BPLR/ Base rate / MCLR to policy Repo Rate)

NIL

Property Documents Retention Charges

Rs.1000 per calendar month, after 2 calendar months from the date of closure

of all loans/facilities linked to the collateral.

Revision in spread

0.1% of principal outstanding or Rs.5000 which is higher per proposal

Penal interest for Non Adherence of ESCROW Account (as per sanction terms and conditions)

NIL

NIL

Additional 2% per annum on existing ROI

Penal Interest for not complying with submission of deferral documents

Additional 2% per annum on existing ROI (monthly basis).

Subject to a critical security-related deferral of Rs.50,000 (maximum).

Max of Rs.25,000 for the other deferrals

Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) Charges

Rs.100 per customer

Property Swapping / Partial property release

0.1% of the loan amount

Rs.10,000 (minimum), Rs.25,000 (maximum) per property

Document Retrieval charges post disbursement

Rs.75 per set of the document (post disbursement)

HDFC Loan Against Property

Types of HDFC Loan Against Property Interest Rate

There are two kinds of HDFC Loan Against Property interest rates: fixed and floating.

Fixed Interest Rate

Here, the rate of interest charged on the HDFC Loan Against Property amount will remain constant throughout the loan repayment period. You know your HDFC Loan Against Property EMI obligation at the start of the tenor, allowing you to plan your monthly budget accordingly.

HDFC Loan Against Property
HDFC Loan Against Property

Floating Interest Rate

Here, HDFC Loan Against Property interest rates could change depending on changes to the Marginal Cost of Lending Rate (MCLR), which is the base rate set for banks by the RBI. With changes in MCLR, the interest rate on loans also gets revised. With a lower interest rate, the repayment amount also reduces. On the other hand, if the interest rates increase, your EMI obligation will also increase. A floating HDFC Loan Against Property interest rate makes it difficult for you to ascertain your monthly financial obligation.

HDFC Loan Against Property Interest Calculation Method

There are two methods to calculate interest: flat rate method and the reducing balance method.

In the flat interest rate method, the interest rate is based on the complete loan amount you pay during the repayment period. In case of reducing the balance method, the rate of interest on the HDFC Loan Against Property will be considered and calculated on the basis of the outstanding loan amount.

Flat Interest Rate Calculation

EMI = (principal + total interest payable) / loan tenure in months i.e. total interest payable = P x r x n/100

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

Floating Interest Rate Calculation

EMI = [P x r x (1 + r) ^n] / [(1 + r) ^(n-1)]

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

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