Plot Loans

HDFC provides Plot Loans to Resident Indians to enable the direct purchase/resale purchase/refinance(balance transfer) of a plot for the construction of residential or non-residential premises.

Maximum loan
80% of the cost / value of the land. This may be restricted to 70% of the cost / value of the land, if the land is located outside the city limits. This is however subject to valuation of the land as assessed by HDFC.
Maximum Term
15 years subject to your retirement age.
Type of Plot Loans

Direct Allotment

An individual can purchase plot on direct allotment in
- Development Authority project or
- Developer project
Resale

An individual can purchase plot on resale in a
- Development Authority's project or
- Developer's project or
- Developed area from a third party ( areas not covered under sr no 1 & 2)
Refinance (ie balance transfer of an existing residential/non-residential premises plot loan from another financial institution)

An individual can apply for Refinance for:
- Refinance of Plot Loan
- Refinance of NRI plot Loan
- Refinance Non-residential premises Plot Loan

Applicant and Co- Applicant to the loan
Plot Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co-owners.
Adjustable Rate Plot Loan
Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the Plot loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.
* Conditions Apply

Interest Rate


Wef : 6th Feb 2013	RPLR: 16.40%

Loan Slabs	Applicable Variable rates % ( Monthly Rest Basis )	Basis : RPLR minus Spread
Upto and including Rs 30 lacs	10.15% to 10.90%	RPLR - 6.25 to -5.50
Over Rs. 30 lacs	10.65% to 11.15%	RPLR - 5.75 to -5.25

(ONLY for plots being purchased from development authorities and good developers within city limits)

TruFixed Plot Loan Under this product the customer has the option to choose a Fixed Interest Rate Period (FIRP) between 3 to 10 years . Post the fixed rate period the loan will automatically convert to a variable rate product. The customer also has the option, subject to our eligibility norms to take a complete fixed rate term product for a fixed term of 3 to 10 years. Or, he can avail a long term loan of upto 15 years with a part fixed and part floating for the entire tenor of the loan. The full disbursement of the loan, irrespective of the fixed period chosen, shall have been availed within the first 3 years from the date of first disbursement of the loan. Post the fixed rate period the interest rates applicable on the loan shall be the then applicable HDFC RPLR minus the spread as applicable currently on the loan amount being availed under this product.

The applicable interest rates in the Fixed Interest Rate Period (FIRP) are linked to sanctioned loan amount and as per details given below:

Loan Slabs	Interest Rates during the Fixed Interest Rate Period ( % )
Upto and including Rs 10 lacs	11
Rs.10.01 lacs to Rs.75 lacs	11.25
Over Rs.75 lacs	11.50

Eligibility