HDFC bank opens the door to financial solutions with its mortgage loan. At an interest rate starting from 8.25%, the bank offers up to 60% of property value. HDFC bank mortgage loan helps fund your financial needs which may occur for various events such as wedding, education, debt consolidation or any other personal financial needs or wants. This loan is availed on minimum processing fees against both commercial and residential properties for a convenient tenure ranging up to 15 years. Let’s walk ahead and know more about the HDFC bank loan against property.
|
Loan Amount |
Up to 65% of the value of property |
|
Interest Charges |
Starts at 8.25% |
|
Processing Fees |
1% of loan amount plus applicable taxes |
|
Tenure |
Up to 15 years |
|
Prepayment |
Up o 4% of the principal outstanding |
Here are the special features of HDFC loan against property which you may want to take into account:
Before you go ahead and get started with the application procedure, there are some HDFC mortgage loan eligibility requirements which you should meet.
Here is the HDFC bank loan against property eligibility criteria:
|
Documents |
Salaried Individuals |
Self Employed Individuals |
|
ID Proof |
Aadhar Card, Passport, Voter ID |
Aadhar Card, Passport, Voter ID |
|
Address Proof |
PAN Card, Driving Licence, Electricity Bill, Water Bill |
PAN Card, Driving Licence, Electricity Bill, Water Bill |
|
Income Proof |
Salary Slips, Bank Statements, Form 16. IT Returns |
Salary Slips, Bank Statements, Form 16. IT Returns |
|
Other Important Documents |
PAN Card, Passport-size Photographs |
PAN Card, Passport-size Photographs |
Other Products of HDFC Bank
HDFC bank loan against property EMI calculator is a tool that helps you calculate the payable monthly installment amount for your loan. With this tool, you can know the payable amount which will be helpful for you in planning your monthly budget.
Here is how to calculate the HDFC mortgage loan EMI using HDFC loan against property EMI calculator:
You will now see the total amount of payable HDFC bank loan against property.
Alternatively, you can use the BankSathi EMI calculator to calculate the payable loan against property EMI amount. Enter the loan amount, loan tenure and rate of interest.
You can apply for HDFC bank loan against property offline or online. Here is how to do that:
To apply for HDFC loan against property offline, you can visit the nearest branch of HDFC bank. You have to carry all the documents required for HDFC mortgage loan application. The bank official will provide you with required assistance with the application.
You have to follow the simple steps in order to apply for HDFC loan against property online:
For any assistance with the HDFC bank mortgage loan application, you can contact HDFC bank customer support.
HDFC bank mortgage loan interest rates start from 8.25% and are subject to several factors like your relationship with the bank, credit score etc.
HDFC bank loan against property processing fee is 1% of the loan amount plus applicable taxes. This processing fee is subject to a minimum of Rs 7,500.
You can opt for the following methods to apply for HDFC home loan:
The lender allows you to avail HDFC loan against property repayment tenure of up to 15 years.
The bank charges a late payment penalty of 2% per month in case of missing the HDFC mortgage loan EMI.
Q.6 What kind of properties can I avail loan against?
You can avail HDFC mortgage loan against residential and commercial properties.
Yes. The bank allows you to prepay your loan after the completion of 6 monthly installments. You will be charged a foreclosure fee of up to 4% on making prepayment of HDFC bank loans against property.
Last Updated on : 14/Apr/2021Know More About
You're eligible for a Hdfc Bank Mortgage Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Mortgage Loan is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Hdfc Bank Mortgage Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 8.25% - 0% |
| Processing Fees | 1% |
| Loan Tenure | 1 year to 15 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Mortgage Loan EMI Calculator