HDFC Loan Against Property

HDFC Loan Against Property Highlights
Interest Rate	8.95% – 10.25% p.a.
Loan Amount	For Existing Customers: Up to 60% of property value For New Customers: Up to 50% of property value
Tenure	Up to 15 years
Processing Fee	Up to 1.50% of loan amount or Rs 4,500, whichever is higher

HDFC Loan Against Property Interest Rates

Standard Interest Rates (Floating)

For Salaried/Self-employed Professionals/Self-employed Non-Professionals

Loan Slab	Interest Rates (p.a.)
Self occupied residential property	8.95%-9.95%
Non-self occupied residential property	9.25%-10.25%
Commercial property	9.25%-10.25%

HDFC has not disclosed differential interest rates based on the credit score, occupation profile, etc. of its application. However, many lenders consider these factors while setting their Loan Against Property interest rates.

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.60-11.30
Bank of Baroda	10.85-16.50
PNB Housing Finance	9.65-13.00
IDFC First Bank	9.00-16.50
HDFC	8.95-10.25
L&T Housing Finance	9.50 onwards
LIC Housing Finance	9.50-11.55
Godrej Housing Finance	9.75 onwards
ICICI Bank	10.85-12.50
Tata Capital	10.10 onwards
Bajaj Housing Finance	8.50-18.00
Axis Bank	9.90-10.35
Kotak Mahindra Bank	9.15 onwards

HDFC Loan Against Property Fees and Charges

Processing Charges	1.50% of loan amount or Rs 4,500, whichever is higher
Prepayment charges	NIL
Dishonour charges	Up to Rs 300
Documents list	Up to Rs 500
Disbursement cheque cancellation charge	Up to RS 500
PDC swap	Up to Rs 500
Documents photo copy	Up to Rs 500
Loan re-appraisal after 6 months of sanction	Up to Rs 2000

Eligibility Criteria for HDFC Loan Against Property

• Age: 21-65 years
• Nationality: Indian residents
• Profession: Salaried/Self-Employed Professionals (doctors, lawyers, CAs, architect, consultant, engineer, CS, etc.)/Self-Employed Non-Professionals (Commission agent, trader, contractor, etc.)

HDFC may also consider the credit score, monthly income, work experience, etc. while evaluating the eligibility of Loan Against Property applicants.

Documents Required for HDFC Loan Against Property

Below mentioned is the list of  Loan Against Property documents required for availing HDFC LAP:

For Salaried

• ID/Residence Proof: PAN card, Aadhaar card, passport, voter ID, driving license
• Income Proof: Salary slips for last 3 months, salary account statement for last 6 months, Form 16/ITR
• Property Documents: Approved plan, no encumbrance proof, title deeds including previous property documents
• Other Documents: Employment contract/appointment letter, last 6 months’ bank account statement showing loan repayment history, processing fee cheque, own contribution proof, documents and declaration stating the end use of loan

For Self-Employed

• ID/Residence Proof: Aadhaar card, voter ID, driving license, PAN card
• Passport size photographs
• Income Proof: ITR for last 3 years along with income computation, balance sheet and profit and loss account statements for last 3 years with schedules/annexures, savings account statement and current account statement of business entity for past 6 months
• Property Documents: No encumbrance proof, approved plan, title deeds including previous property documents
• Business profile
• Form 26AS
• Memorandum and Article of Association
• List of shareholders and directors with the individual shareholding certified the CA/CS
• If the business entity is a partnership firm, partnership deed is required
• Details of current ongoing loans of the business entity and individuals
• Declaration and documents mentioning the end use of loan
• Processing fee cheque
• Own contribution proof