HDFC Bank Loan Against Property

Below is the table for the current HDFC LAP interest rate:

The HDFC Bank loan against property interest rate may vary from borrower to borrower depending on their eligibility.

HDFC LAP Interest Rate for Salaried & Self-Employed Individuals

Recently HDFC has shifted its benchmark rates for Loan Against Property(LAP), Loan Against Commercial Property(LCP), Loan Against Rent Receivables( LARR) to Policy Repo Rate and they charge a spread of 3% to 4.5% over their Policy Repo rate which is 6.50% right now. This makes the cumulative lending rate in the range of 9.50% - 11.00%.

In addition to the HDFC Bank LAP loan interest rates of 9.50% - 11.00% p.a., HDFC Bank also levies the following fees and charges on its mortgage loan:

Furthermore, a quick takeaway is that the above charges are selective of duties and legal tolls as appropriate every once in a while. The above charges are the maximum ranges of their categories. The bank maintains all authority to defer any of the above charges every once in a while with due implication to the client. Changed Charges will be conveyed to the client through the Bank's website or by any other credible and acceptable method of correspondence.

You can also check Loan Against Property Without Income Proof and ITR

Some key features and benefits of opting HDFC Loan Against Property include:

Significant monetary assistance

With a value that goes up to 65% of the market value of your property, you can immediately receive a significant amount of money to fulfil your current requirements without breaking a sweat. The amount is made available at a lower interest rate as compared to other sorts of loans and for a longer tenure, making repayments a smooth process.

Meet your needs

You can place your residential or commercial land as collateral and use the money that you'll receive for various strategic financial growth at both personal and professional levels. There is no end to the utilisation of this kind of amount that will result in your improved quality of life when used wisely.

Convenient repayment

The HDFC Loan Against Property interest rates are highly competitive with the current market trends and makes the entire process of repayment convenient with low EMIs, or Dropline Overdraft Facility.

Seamless and clear processing

You can check all kinds of charges and rates on your loan beforehand and calculate the EMIs for the entire period. With everything laid on the table at the time of processing itself and no hidden charges or surprises saved for later, you can plan the blueprint of your finances easily. 

Effective assistance

HDFC offers a doorstep service of getting an expert to assist you with the loan, help you with the application process, and make the transaction quick and smooth. All of this, made available at your convenience and disposal.

Moreover, if you want to apply for personal loan or want to open saving account the hdfc bank video KYC process will helpful to verify the customer’s identity digitally.

Furthermore, there are considerable benefits for Self-employed individuals with HDFC's specially tailored plans and deals in the programme with its easy debt consolidation tool.

You can also check different offers on HDFC Credila Loan Against Property

HDFC Loan Against Property eligibility is made pretty simple and straightforward. Here's what you need to know:

• Status - Salaried/employed, or Self-employed/entrepreneur
• Age - Should be between 20 years to 60 years for salaried individuals and 25 years to 65 years for self-employed individuals.
• Monthly income - Needs to be at a minimum of Rs. 25,000.

If you meet the above eligibility criteria, you can avail of the best HDFC Bank mortgage loan interest rate offer.

Here is a list of HDFC loan against property documents required for both the categories of individuals:

Documents needed from Salaried/employed Borrower

• Address Proof, documents valid - Ration Card, Telephone Bill, Aadhar card, Electricity Bill or Voter's ID Card
• ID Proof, documents needed - Voter's Card, Driver's License, Aadhaar card, PAN Card
• Bank statement/passbook record of last six months
• Income slip of last six months
• Form 16 from the current organisation for the previous two years.
• Valid and legal ownership documents of the Property being pledged.

Documents needed from Salaried/employed Borrower

• Address Proof, documents valid - Ration Card, Telephone Bill, Aadhar card, Electricity Bill or Voter's ID Card
• ID Proof, documents needed - Voter's Card, Driver's License, Aadhaar card, PAN Card
• Certified income statement of last three years
• Bank statement/passbook record of last six months
• Valid and legal ownership documents of the Property being pledged.

To get a loan against property without income proof HDFC Bank is not possible. Hence, you must submit the list of the documents mentioned above to apply for loan against property HDFC.

You can also Check the necessary Documents required for Loan Against Property

The three types of HDFC mortgage loan that you can consider are:

HDFC Loan Against Property Standard Rate Loan

Also known as the fixed interest rate made available at the time of applying. Here, basis the trends of the market, you can opt for a fixed rate of interest on your loan and plan the EMI for the entire period beforehand. These rates are generally higher than the adjustable rates to comply with the anticipated fluctuations in the market over the period of the loan taken.

HDFC Loan Against Property Adjustable-Rate Loan

Adjustable rates are the floating interest rates that are in the higher preference, given that there is a larger possibility that you end up paying a lesser amount of total EMI as compared to the fixed rate. Here, the only inconvenience is in the instability of the market and its effects on your monthly EMI whenever the floating rates go higher. 

HDFC Loan Against Property TruFixed Loan – 2 Year Fixed Rate Variant

HDFC has introduced a special category of loan, where you can opt for the fixed interest rate for a period of 2 years with automatic conversion to adjustable rates after the tenure is over. It will be connected to the date of the primary payment. This saves you from the trouble of going through the charges and procedure of changing the rates while also understanding and planning your expenses in the given two years.

On understanding the amount of loan needed from your end and the rate of interest given by the Bank, you now need to settle on a repayment tenure to calculate your EMI. 

EMI is derived after the input of the following information:

• Loan Amount
• Interest Rate
• Repayment Tenure

To further break down the HDFC EMI Loan Against Property at various rates and residency, you can enter the exact above-mentioned values in the Loan against property EMI calculator, and get an immediate crunch value that you'll need to pay moving forward with the loan. 

The table below shows the HDFC EMI estimation at the different blends of loan amounts and a longer tenure at the most reduced rate of 9.50% - 11.00%.

The above table is a further demonstration of how to fix the amount against a certain tenure of time basis for your own monthly stability and scope.

You can also use HDFC Loan Against Property EMI Calculator to find out how much you will save on interest and how it affects your Loan EMI.

Check out the HDFC website and avail the best offers and competitive rates on your loans. You can also get an expert to visit your house for personalized assistance and an understanding of the deal you are getting into.

Schedule your appointment by simply giving a missed call on +91 9289200017

You can also check Bank Balance Check Number Online.