Avail a loan worth up to 65% of the property value
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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. |
A maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months. |
2.5 % of the Principal Outstanding. |
|
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. |
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. |
A maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months. |
Post 6 months from the disbursement of Loan/Facility and up to 60 months -Maximum of 2.5% of the Principal Outstanding. |
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) |
||
There are two kinds of HDFC Loan Against Property interest rates: fixed and floating.
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.
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.
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.
Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.
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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