HDFC Loan Against Property Interest Rate Calculator - Dec 2016

HDFC Loan Against Property Interest Rates

Last Updated 07th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 10.60% - 12.60%
Check Special Offers
Lowest EMI Rs. 1,112 per lakh
Max Tenure 15 years
Processing Fee Upto 1.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 24 and Max 60 years for Salaried
Min 24 and Max 65 years for Self Employed
Apply Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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HDFC Loan Against Property

HDFC offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 50% of the market’s value for tenure of 18 years.

Loan Against Property HDFC

Loan Against Property interest rates offered by HDFC depends upon PLR
  • Floating rates changes with a single change in HDFC PLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
HDFC offers Property Loan based on PLR which is currently 16.30%
HDFC mortgage loan interest rate depends upon
  • Loan amount: HDFC mortgage loan rate depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: HDFC has a list of companies to which they lend Loan Against Property. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. HDFC interest rate varies with your monthly income. Higher the income, less will the rate of interest

Loan Against Property Charges

Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. HDFC allows prepayment of loan against property with Within 3 Years 2%, after that- Nil prepayment charges
Processing Fee - HDFC asks for a processing fee of 1.50% of loan amount with applicable service tax

HDFC Loan Against Property EMI Calculator

Loan Against Property EMI of HDFC is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • HDFC Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating HDFC Loan Against Property EMI?
  • HDFC Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • HDFC EMI calculator for Loan Against Property helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

HDFC Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria HDFC
Eligibility of Loan Against Property in HDFC relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: HDFC offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: HDFC decides your loan amount based on the market value of the property which you place as your collateral for the loan. HDFC lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. HDFC gives maximum LTV of 50% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. HDFC checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. HDFC does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, HDFC gives you a maximum tenure of 18 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over PLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
    Business person should be in business from the past 1 years and minimum ITR of last 2years is required as proof to HDFC
Estimated eligibility online by using Eligibility Calculator.
Popular Products:
  • Loan Against Residential Property
  • Commercial Property Mortgage Loan

HDFC Floating Rate Loan Against Property

HDFC Loan Against Property Floating
Upto Rs. 2,500,000 - 10.60%
Rs. 2,500,001 - 7,500,000 - 10.60%
Rs. 7,500,001 - 20,000,000 - 10.60%
Above Rs. 20,000,000 - 10.60% linked to PLR

HDFC Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to HDFC?
HDFC offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of HDFC
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property HDFC documents required

Loan Against Property for Salaried employee HDFC documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • ITR of last 2 years
  • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

Loan Against Property for Self-Employed HDFC documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • ITR of last 2 years
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

Property documents for Loan Against Property from HDFC

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation
Past trends of PLR of HDFC
Date PLR
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 16.30% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
10th Apr 15 16.55% decreased by 0.2%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
01st Dec 13 16.75% increased by 0.1%
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
24th Aug 13 16.65% increased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
05th Feb 13 16.40% decreased by 0.1%
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 16.50% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
16th May 11 16.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
01st Mar 11 15.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
01st Dec 10 15.00% increased by 0.75%
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
01st Sep 10 14.25%
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI

HDFC PLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in HDFC ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from HDFC and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to HDFC and other banks and all EMI's have been paid. Note that HDFC can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to HDFC in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will HDFC mortgage loan interest rate remain fixed or will it change in future?

    • Floating interest rate on HDFC loan against property is linked to its PLR, which is currently 16.30%. So, when HDFC offers a loan against property at 10.60%, it applies a 5.7% discount to its PLR to arrive at this rate
    • In case the interest rates in the market move up by 0.50%, HDFC may increase its PLR by 0.50% to 16.8%, thereby increasing the applicable rate for both old customers and new customers to 11.1%
    • In case the interest rates in the market trend down by 0.50%, it may do one of the following. It may choose to reduce the PLR by 0.50% from 16.30% to 15.8%, thereby reducing the applicable interest rate for both new and old customers to 10.1%. Alternatively, it may choose to keep the PLR unchanged at 16.30% and increase the discount for new customers to 6.2% instead of 5.7% for old customers. So, the old customers will continue to pay the old interest of 10.60% while the new customers will get loan against property at 10.1%. The decision whether to pass on the benefit on lower rates to both new and old customers or only to new customers is that of the lender and cannot be predicted in case of PLR benchmarked loans
    • It has been observed that customers often complain that applicable rate of interest on PLR benchmarked loans tends to go up in line with market rates but rarely goes down when rates go down. However, since there is no prepayment or foreclosure charge on floating rate loan against property, customers may choose to transfer the loan to a new lender and thus save interest cost. MyLoanCare has helped customers save Rs. 98556874 so far by refinancing their loans at lower rates. Base rate benchmarked loans offer a more transparent mechanism for transmission of interest rates and appear to be more favorable option for the borrowers
    • Current PLR of HDFC, its past trend and comparison with RBI repo rate are given here for your reference

    Are prepayment or foreclosure charges applicable on HDFC loan against property?

      You can prepay loan against property (LAP) without any penalty or charges in case:
    • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
    • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

    For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

    Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.

HDFC Loan Against Property in India

HDFC Loan Against Property Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 0562-66307000
Ahmedabad 079-66307000
Ambala 0172-3989123
Anand 02692-66307000
Aurangabad 022- 66636000
Bangalore 080-41183000
Bhilai 0771-4243100
Bhilwara 987-508-8888
Bhiwadi 022- 66636000
Bhopal 0731-4433333
Bhubaneswar Cuttack 0674-2395060
Bikaner 987-508-8888
Chandigarh 0172-3989123
Chennai 0422-4301100
Cochin 938-776-6666
Coimbatore 0422-4301100
Dehradun 1860-420-4222
Delhi 011-41115111
Durg 0771-4243100
Faridabad 011-41115111
Gandhinagar 02712-2308400
Ghaziabad 0120-3989123
Goa 1800-22-7227
Greater Noida 0120-3989123
Gurgaon 011-41115111
Guwahati 1800-22-7227
Gwalior 0731-4433333
Hyderabad 040-66475001
Indore 0731-4433333
Jabalpur 0731-4433333
Jaipur 987-508-8888
Jalandhar 0172-3989123
Jodhpur 987-508-8888
Kanpur 0512-3989123
Karnal 0172-3989123
Kolhapur 022- 66636000
Kolkata 033-66556655
Kota 987-508-8888
Kozhikode 999-599-8000
Lucknow 0522-3989123
Ludhiana 0172-3989123
Madurai 0422-4301100
Meerut 0121-3989123
Mehsana 1800-22-7227
Mohali Sas Nagar 0172-3989123
Mumbai 022- 66636000
Mussoorie 1860-420-4222
Nagpur 0712-2566000
Nashik 0253-6606000
Noida 01191-3989123
Noida Extn. 01191-3989123
Panipat 011-41115111
Patna 0612-2502522/ 0612-2502523
Pondicherry 1800-22-7227
Pune 020-25505000
Raipur 0771-4243100
Rajkot 0281-4433333
Ranchi 1800-22-7227
Rohtak 0172-3989123
Roorkee 1860-420-4222
Salem 0422-4301100
Shimla 1800-22-7227
Sonepat 011-41115111
Surat 0731-4433333
Trichy 0422-4301100
Udaipur 987-508-8888
Vadodara 0265-2308400
Varanasi 0542-3989123
Vijaywada 0866-6633131
Vizag 0866-6633131
HDFC Loan Against Property News - Dec 2016
24th Oct 15 Festival Offer at 10.60%
HDFC festival offer - loan against residential property at 10.60% to 12.35% and loan against commercial property at 11.10% to 12.60% for loans applied upto 30 Nov and 1st disb. upto 31 Dec 2015.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.