HDFC Product List

About HDFC's Loan against Property

Avail HDFC's loan against property (LAP) for your personal or business needs at attractive interest rates. Both residential and commercial properties can be mortgaged for availing a loan against property. HDFC provides a smooth & hassle-free loan against property to both salaried and self-employed individuals. HDFC’s loan against property is a simple solution to your financial needs.

Loan Against Property Features

  • Loan against fully constructed, freehold residential and commercial properties for: Business Needs; Marriage, medical expenses and other personal needs; transferring your outstanding loan availed from another Bank / Financial Institution
  • Longer tenure, smaller EMIs
  • Attractive interest rates
  • Easy and hassle free documentation
  • Simple repayments through monthly installments
  • Integrated branch network for availing and servicing the loan anywhere in India

Loan Against Property Interest Rates

STANDARD RATES-LOAN AGAINST PROPERTY

Adjustable Rate Home Loan

Retail Prime Lending Rate:(Non Housing) 12.20%

Loan Slab Interest Rates (% p.a.)
Self Occupied Residential Property 8.95 - 9.95
Non - Self Occupied Residential Property 9.25 - 10.25
Loan Slab Interest Rates (% p.a.)
Commercial Property 9.25 - 10.25

Loan Against Property Eligibility Details

You can apply individually or jointly for a Loan Against Property. All owners of the property will have to be co-applicants. 

Who can apply for a Loan Against Property

Primary Applicant

AGE

21-65 years

PROFESSION

Salaried / Self Employed

NATIONALITY

Resident Indian

GENDER

All Genders

Co-Applicant(s)

  • Adding Co-Applicant helps in maximizing the loan amount.

  • Adding Women Co-Owner helps in getting better interest rate.

  • All co-applicants need not be co-owners. Generally co-applicants are close family members.

What's the maximum funding and repayment tenure for a Loan Against Property?

Existing HDFC Customers

The principal outstanding on all existing loans and the Loan Against Property being availed should not cumulatively exceed 60% of the Market Value of the mortgaged property as assessed by HDFC.
 

New Customers

Loan Against Property being availed should not, generally, exceed 50% of the Market Value of the property, as assessed by HDFC.
 

You may spread out your payments for the loan over a maximum term of 15 years.

The tenure of the loan is also dependent on the customer’s profile, age of customer at maturity of loan, age of property at loan maturity, depending upon the specific repayment scheme as may be opted and any other terms which may be applicable based on prevalent norms of HDFC.

 

Loan Against Property Documents and Charges

Loan Against Property Documents

for Salaried individuals

Following are the documents you would need to submit for all applicants / co-applicants along with the completed and signed Application Form for loan approval:

LIST OF DOCUMENTS
 

A Sr.No. Mandatory Documents
  1 PAN Card or Form 60 (If the customer does not have a PAN Card)
B Sr.No. Description of Officially Valid Documents (OVD) that can be accepted for establishing the legal name & current address of Individuals*[Any one of the following documents can be submitted] Identity Address
  1 Passport, the validity of which has not expired. Y Y
  2 Driving license which has not expired. Y Y
  3 Election /Voters identification card Y Y
  4 Job card issued by NREGA duly signed by the officer of the State Government Y Y
  5 Letter issued by the National Population Register containing details of name, address. Y Y
  6 Proof of possession of Aadhaar Number ( to be obtained voluntarily) Y Y


A document mentioned above shall be deemed to be an OVD even if there is a change in the name subsequent to issuance provided it is supported by a marriage certificate issued by State Government or Gazette notification, indicating such a change of name.

  • Last 3 months' Salary Slips
  • Last 6 months' Bank Statements, showing salary credits
  • Latest Form-16 and IT returns

  • Title Deeds including the previous chain of the property documents
  • Proof of no encumbrances on the property
  • Approved plan if applicable

  • Employment Contract / Appointment Letter in case current employment is less than year old
  • Last 6 months' Bank Statements showing repayment of any ongoing loans
  • Passport size photograph of all the applicants / co-applicants to be affixed on the Application form and signed across.
  • Cheque for processing fee favouring HDFC Ltd.
  • Declaration and documents clearly stating the end use of the loan
  • Own Contribution Proof

All documents to be self attested. The above list is indicative in nature and additional documents can be asked for.
 

Loan against Property Charges and Fees

for Salaried individuals

The following is an indicative list of fees / other charges / outgoings that are payable depending on the nature of the loan availed (*):

Processing Fees

Up to 1.50% of the loan amount or ₹4,500 whichever is higher, plus applicable taxes.
Minimum Retention Amount: 50% of applicable fees or ₹4,500 + applicable taxes whichever is higher.
 

Fees On Account Of External Opinion

Fees on account of external opinion from advocates/technical valuers, as the case may be, is payable on an actual basis as applicable to a given case. Such fees is payable directly to the concerned advocate / technical valuer for the nature of assistance so rendered.
 

Property Insurance

The customer shall pay the premium amounts directly to the insurance provider, promptly and regularly so as to keep the policy / policies alive at all times during the pendency of the loan.
 

Charges On Account Of Delayed Payments

Delayed payment of interest or EMI shall render the customer liable to pay additional interest up to 24% per annum.
 

Incidental Charges

Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the policy can be obtained by customers from the concerned branch on request.
 

Statutory / Regulatory Charges

All applicable charges on account of Stamp Duty / MOD / MOE / Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory / regulatory bodies and applicable taxes shall be borne and paid (or refunded as the case may be) solely by the customer. You may visit the website of CERSAI for all such charges at www.cersai.org.in
 

Other Charges

Type Charges
Check Dishonour Charges  ₹300**
List Of Documents Up to ₹500
Photo Copy Of Documents Up to ₹500
PDC Swap Up to ₹500
Disbursement Cheque Cancellation Charge Post Disbursement Up to ₹500
Re-Appraisal Of Loan After 6 Months From Sanction Up to ₹2,000 plus applicable taxes
Reversal of Provisional Prepayment under HDFC Maxvantage Scheme ₹250/- plus applicable taxes/statutory levies at the time of reversal

Housing Loans

A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest For loans sanctioned to individual borrowers with or without co-obligants, no prepayment charges shall be payable on account of part or full prepayments made through any sources* except when the loan is sanctioned for business purposes**.
B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes/statutory levies of the amounts being so prepaid on account of part or full prepayments except when part or full prepayment is being made through own sources*.


Non Housing Loans and loans classified as business loans**

A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at a rate of 2% plus applicable taxes/statutory levies of the amounts being so repaid on account of part or full prepayment.
No prepayment charges shall be payable on account of part or full prepayments on Loans against Property / Home equity loans sanctioned to individuals for other than business purposes**
B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at a rate of 2% plus applicable taxes/statutory levies of the amounts being so repaid on account of part or full prepayments.


Own Sources: *the expression "own sources" for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution.

Business Loans: **The following loans shall be classified as business loans:

  1. LRD loans
  2. Loans against property / Home Equity Loan for Business Purpose i.e. Working Capital,  Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.
  3. Non Residential properties
  4. Non Residential Equity Loan
  5. Top up loans for Business Purpose i.e. Working Capital, Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.

The Borrower will be required to submit such documents that HDFC may deem fit & proper to ascertain the source of funds at the time of prepayment of the loan.

The prepayment charges are subject to change as per prevailing policies of HDFC and accordingly may vary from time to time which shall be notified on www.hdfc.com.

We offer our existing customer the option to reduce the applicable interest rates on the Home Loan (by changing the spread or switching between schemes) through our Conversion Facility. You can take advantage of this facility by paying a nominal fee and opt for either reducing your monthly instalment (EMI) or loan tenure. Terms and conditions apply. To avail of our Conversion Facility and to discuss the various available options either click here to allow us to call you back or log on to our Online Access for Existing Customers, to get your Home Loan account information 24x7. The following options of conversion are available to an existing customer of HDFC:
 

Name of the Product/Service Name of Fee/Charge levied When Payable Frequency Amount in Rupees

Switch to Lower Rate in Variable rate Loans (Housing / Extension / Renovation)

 

 Conversion Fees On Conversion On every Spread change Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or a cap ₹50000 plus taxes whichever is lower.

Switching to Variable Rate Loan from Fixed Rate Loan (Housing / Extension / Renovation)

 Conversion Fees On Conversion Once Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or a cap ₹50000 plus taxes whichever is lower.

Switch from Combination Rate Home Loan fixed rate to Variable rate

 Conversion Fees On Conversion Once 1.75% of the Principal Outstanding and undisbursed amount (if any) plus taxes at the time of Conversion.

Switch to Lower Rate (Non–Housing Loans)

 Conversion Fees On Conversion On every Spread change Half of the spread difference on the principal outstanding and undisbursed amount (if any) plus taxes, with a minimum fee of 0.5% and Max. 1.50%.

Switch to Lower Rate (Plot Loans)

 Conversion Fees On Conversion On every Spread change 0.5% of principal outstanding and undisbursed amount (if any) plus taxes at the time of Conversion.

Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread

 Conversion Fees On conversion where the resultant rate of interest remains the same On change of bench- mark rate and/or change of Spread Change NIL

Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread

 Conversion Fees On conversion where the resultant rate of interest is lowered On change of benchmark rate and/ or change of Spread Change Half of the spread difference on the principal outstanding and undisbursed amount (if any) plus taxes, with a minimum fee of 0.5% and Max. 1.50%

Switch to Lower Rate (Loans under HDFC Reach)- Variable Rate

 Conversion Fees On Conversion On every Spread change Upto 1.50% of the principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of conversion.

Switch to HDFC Maxvantage Scheme

 Processing Fee At the time of Conversion Once 0.25% of the outstanding loan amount + applicable taxes/statutory levies at the time of conversion

(*) the contents of the above are subject to change from time to time and the levy of the same shall be at such rates as may be applicable as on the date of such charge.
**Conditions apply.
 

Calculators

Get the peace of mind by knowing all the details about your loan
 

  • EMI CALCULATOR

    What Would Be My Monthly Repayment?

  • ELIGIBILITY CALCULATOR

    How Much Loan Could I Borrow?

  • AFFORDABILITY CALCULATOR

    What Is The Maximum Purchase Price I Can Afford?

  • REFINANCE CALCULATOR

    Find out the savings in EMI

₹
₹1 Lac ₹10 Cr
1 30
%
0.5 15
₹198341
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₹198341
₹198341
₹198341
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Home Loan eligibility is dependent on factors such as your monthly income, current age, credit score, fixed monthly financial obligations, credit history, retirement age etc. Get the peace of mind by knowing all the details about your loan using HDFC Home Loan Eligibility Calculator
 

We are unable to show you any offers currently as your current EMIs amount is very high. You can go back and modify your inputs if you wish to recalculate your eligibility.
₹
₹ 10 K ₹ 1 Cr
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%
0.5 15
₹
₹ 0 ₹ 1 Cr
₹ 11,86,698
₹ 11,86,698/monthly
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Get the peace of mind by knowing all the details about your loan
 

We are unable to show you any offers currently as your current EMIs amount is very high. You can go back and modify your inputs if you wish to recalculate your eligibility.
₹
₹ 1000 ₹ 1 Cr
₹
₹ 10 K ₹ 1 Cr
1 30
%
0.5 15
₹
₹ 0 ₹ 1 Cr
₹ 11,86,698
₹ 11,86,698
Apply Online Let Us Contact You

Find out the savings in EMI
 

Existing Loan

₹
₹ 1 Lac ₹ 10 Cr
1 30
%
0.5 15

Loan from HDFC Home Loans
1 30
%
0.5 15
₹ 11,86,698
₹ 11,86,698
₹ 11,86,698
₹ 11,86,698
Apply Online Let Us Contact You

Loan Against Property FAQs

Loan against property is a secured loan that financial institutions provide against fully constructed, freehold residential and commercial properties. A mortgage loan can be availed for Personal and Business Needs(other than for speculative purposes) like marriage, medical expenses and child's education etc. Existing Loan Against Property from other banks and financial institutions can also be transferred to HDFC.

For Existing Customers, the principal outstanding on all existing loans and the Loan Against Property being availed should not cumulatively exceed 60% of the Market Value of the mortgaged property as assessed by HDFC. For New Customers, loan against property being availed should not, generally, exceed 50% of the Market Value of the property, as assessed by HDFC.

Loan Against Property(LAP) can be availed by both salaried and self employed individuals for personal and professional needs(other than for speculative purposes) like marriage, Child's education, business expansion, debt consolidation etc.

You can avail a loan against property for a maximum term of 15 years or till your age of retirement ,whichever is lower.

Security of the loan would generally be security interest on the property being financed by us and / or any other collateral / interim security as may be required by us.

Yes ,Loan Against Property(LAP) can be availed against a fully constructed and freehold commercial properties .

You can find a checklist regarding documents required and applicable fees & charges on https://www.hdfc.com/checklist#documents-charges

View All Faqs

Loan Against Property Terms & Conditions

Security of the loan would generally be security interest on the property being financed and / or any other collateral / interim security as may be required by HDFC.

All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about HDFC’s products and services. For detailed information about HDFC’s products and services kindly visit the nearest HDFC branch.
 

Click here for the Most Important Terms and Conditions pertaining to your loan.

 

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Interest Rate Range for the past quarter for advances granted to individual borrowers

Individual Housing: (Oct-Dec 2022 Quarter)

Min (%) Max (%) Wt Avg. (%) Mean (%)
8.00 13.00 8.60 9.43

Individual Non-Housing: (Oct-Dec 2022 Quarter)

Min (%) Max (%) Wt Avg. (%) Mean (%)
8.00 15.30 9.02 10.03

Please visit https://portal.hdfc.com/login and post Login click on Requests > Conversion Enquiry tab for any further details in this regards.

HDFC's Retail Prime Lending Rate (RPLR) Housing is being increased by 25 bps to 18.55% w.e.f March 1, 2023

HDFC's Retail Prime Lending Rate (RPLR) Non-Housing is also being increased by 25  bps to 12.20% w.e.f March 1, 2023

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