HDFC Loan Against Property Interest Rate Calculator - Mar 2017

HDFC Bank Loan Against Property Interest Rates

Last Updated 27th Mar 2017
Interest Rate 10.75% - 12.25%
Check Special Offers
Lowest EMI Rs. 1,449 per lakh
Max Tenure 9 years
Processing Fee Upto 1.00%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Loan Against Property Online @9.50%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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HDFC Bank Loan Against Property

HDFC Bank 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 60% of the market’s value for tenure of 9 years.

Loan Against Property HDFC

Loan Against Property interest rates offered by HDFC Bank depends upon MCLR
  • Floating rates changes with a single change in HDFC Bank MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
HDFC Bank offers Property Loan based on 1 Year MCLR which is currently 8.15%
HDFC Bank mortgage loan interest rate depends upon
  • Loan amount: HDFC Bank 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 Bank 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 Bank 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 Bank allows prepayment of loan against property with Nil prepayment charges
Processing Fee - HDFC Bank asks for a processing fee of 1.00% of loan amount with applicable service tax

HDFC Loan Against Property EMI Calculator

Loan Against Property EMI of HDFC Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • HDFC Bank 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 Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • HDFC Bank 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 Bank
Eligibility of Loan Against Property in HDFC Bank 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 Bank offers loan against property for a maximum tenure of 9 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 Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. HDFC Bank 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 Bank gives maximum LTV of 60% 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 Bank 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 Bank 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 Bank gives you a maximum tenure of 9 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over 1 Year MCLR. 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 2 years and minimum ITR of last 2years is required as proof to HDFC Bank
Estimated eligibility online by using Eligibility Calculator.

HDFC Bank Floating Rate Loan Against Property

HDFC Bank Loan Against Property Floating
Upto Rs. 2,500,000 - 10.75%
Rs. 2,500,001 - 7,500,000 - 10.75%
Rs. 7,500,001 - 20,000,000 - 10.75%
Above Rs. 20,000,000 - 10.75% linked to 1 Year MCLR
with Dropline OD Against Property Facility
Upto Rs. 2,500,000 - 11.50%
Above Rs. 2,500,001 - 7,500,000 - 11.50%
Above Rs. 7,500,001 - 20,000,000 - 11.50%
Above Rs. 20,000,000 - 11.50% linked to 1 Year MCLR

HDFC Bank Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to HDFC Bank?
HDFC Bank offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of HDFC Bank
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 Bank 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 Bank 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 Bank

  • 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 MCLR of HDFC Bank
08th Feb 17: 0% repo none by RBI
07th Dec 16: 0% repo none by RBI
24th Oct 16 9.25% decreased by 0.05%
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
04th Jan 16 9.30% decreased by 0.05%
29th Sep 15: 0.5% repo cut by RBI
01st Sep 15 9.35% decreased by 0.35%
15th Jun 15 9.70% decreased by 0.15%
02nd Jun 15: 0.25% repo cut by RBI
07th Apr 15 9.85% decreased by 0.15%
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
02nd Nov 13 10.00% increased by 0.2%
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd Aug 13 9.80% increased by 0.2%
03rd May 13: 0.25% repo cut by RBI
30th Mar 13 9.60% decreased by 0.1%
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
31st Dec 12 9.70% decreased by 0.1%
30th Jun 12 9.80% decreased by 0.2%
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
13th Aug 11 10.00% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
12th Jul 11 9.50% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
12th May 11 9.25% increased by 0.55%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
14th Mar 11 8.70% increased by 0.5%
24th Feb 11 8.20% increased by 0.45%
25th Jan 11: 0.25% repo hike by RBI
01st Jan 11 7.75% increased by 0.25%
02nd Nov 10: 0.25% repo hike by RBI
05th Oct 10 7.50% increased by 0.25%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 7.25%

HDFC MCLR 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 Bank 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 Bank and other banks and all EMI's have been paid. Note that HDFC Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to HDFC Bank 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 Bank property loan is linked to its 1 Year MCLR, which is currently 8.15%. So, when HDFC Bank offers a loan against property at 10.75%, it applies a 2.6% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of HDFC Bank, 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 in case you need any assistance or clarification on this subject.

HDFC Bank Loan Against Property in India

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

City Customer Care Number
Agra 993-590-3333, loansupport [at] hdfcbank [dot] com
Ahmedabad 079-61606161, loansupport [at] hdfcbank [dot] com
Ambala 999-624-3333, loansupport [at] hdfcbank [dot] com
Anand 079-61606161, loansupport [at] hdfcbank [dot] com
Aurangabad 022-61606161, loansupport [at] hdfcbank [dot] com
Bangalore 080-61606161, loansupport [at] hdfcbank [dot] com
Bhilai 1860-266-6161, loansupport [at] hdfcbank [dot] com
Bhilwara 987-500-3333, loansupport [at] hdfcbank [dot] com
Bhiwadi 022-61606161, loansupport [at] hdfcbank [dot] com
Bhopal 0731-6160616, loansupport [at] hdfcbank [dot] com
Bhubaneswar Cuttack 993-790-3333, loansupport [at] hdfcbank [dot] com
Bikaner 987-500-3333, loansupport [at] hdfcbank [dot] com
Chandigarh 0172-6160616, loansupport [at] hdfcbank [dot] com
Chennai 044-61606161, loansupport [at] hdfcbank [dot] com
Cochin 0484-6160616, loansupport [at] hdfcbank [dot] com
Coimbatore 044-61606161, loansupport [at] hdfcbank [dot] com
Dehradun 993-590-3333, loansupport [at] hdfcbank [dot] com
Delhi 011-61606161, loansupport [at] hdfcbank [dot] com
Durg 1860-266-6161, loansupport [at] hdfcbank [dot] com
Faridabad 011-61606161, loansupport [at] hdfcbank [dot] com
Gandhinagar 079-61606161, loansupport [at] hdfcbank [dot] com
Ghaziabad 011-61606161, loansupport [at] hdfcbank [dot] com
Goa 989-060-3333, loansupport [at] hdfcbank [dot] com
Greater Noida 011-61606161, loansupport [at] hdfcbank [dot] com
Gurgaon 011-61606161, loansupport [at] hdfcbank [dot] com
Guwahati 995-719-3333, loansupport [at] hdfcbank [dot] com
Gwalior 0731-6160616, loansupport [at] hdfcbank [dot] com
Hyderabad 040-61606161, loansupport [at] hdfcbank [dot] com
Indore 0731-6160616, loansupport [at] hdfcbank [dot] com
Jabalpur 0731-6160616, loansupport [at] hdfcbank [dot] com
Jaipur 0141-6160616, loansupport [at] hdfcbank [dot] com
Jalandhar 981-533-1111, loansupport [at] hdfcbank [dot] com
Jodhpur 987-500-3333, loansupport [at] hdfcbank [dot] com
Kanpur 993-590-3333, loansupport [at] hdfcbank [dot] com
Karnal 999-624-3333, loansupport [at] hdfcbank [dot] com
Kolhapur 989-060-3333, loansupport [at] hdfcbank [dot] com
Kolkata 033-61606161, loansupport [at] hdfcbank [dot] com
Kota 987-500-3333, loansupport [at] hdfcbank [dot] com
Kozhikode 989-566-3333, loansupport [at] hdfcbank [dot] com
Lucknow 0522-6160616, loansupport [at] hdfcbank [dot] com
Ludhiana 981-533-1111, loansupport [at] hdfcbank [dot] com
Madurai 984-067-3333, loansupport [at] hdfcbank [dot] com
Meerut 993-590-3333, loansupport [at] hdfcbank [dot] com
Mehsana 079-61606161, loansupport [at] hdfcbank [dot] com
Mohali Sas Nagar 981-533-1111, loansupport [at] hdfcbank [dot] com
Mumbai 022-61606161, loansupport [at] hdfcbank [dot] com
Mussoorie 993-590-3333, loansupport [at] hdfcbank [dot] com
Nagpur 989-060-3333, loansupport [at] hdfcbank [dot] com
Nashik 989-060-3333, loansupport [at] hdfcbank [dot] com
Noida 011-61606161, loansupport [at] hdfcbank [dot] com
Noida Extn. 011-61606161, loansupport [at] hdfcbank [dot] com
Panipat 999-624-3333, loansupport [at] hdfcbank [dot] com
Patna 1860-266-6161, loansupport [at] hdfcbank [dot] com
Pondicherry 984-067-3333, loansupport [at] hdfcbank [dot] com
Pune 022-61606161, loansupport [at] hdfcbank [dot] com
Raipur 1860-266-6161, loansupport [at] hdfcbank [dot] com
Rajkot 079-61606161, loansupport [at] hdfcbank [dot] com
Ranchi 1860-266-6161, loansupport [at] hdfcbank [dot] com
Rohtak 999-624-3333, loansupport [at] hdfcbank [dot] com
Roorkee 993-590-3333, loansupport [at] hdfcbank [dot] com
Salem 984-067-3333, loansupport [at] hdfcbank [dot] com
Shimla 999-624-3333, loansupport [at] hdfcbank [dot] com
Sonepat 999-624-3333, loansupport [at] hdfcbank [dot] com
Surat 079-61606161, loansupport [at] hdfcbank [dot] com
Trichy 984-067-3333, loansupport [at] hdfcbank [dot] com
Udaipur 987-500-3333, loansupport [at] hdfcbank [dot] com
Vadodara 079-61606161, loansupport [at] hdfcbank [dot] com
Varanasi 993-590-3333, loansupport [at] hdfcbank [dot] com
Vijaywada 994-949-3333, loansupport [at] hdfcbank [dot] com
Vizag 994-949-3333, loansupport [at] hdfcbank [dot] com
HDFC Loan Against Property News - Mar 2017
17th Mar 17 Developers turn to build value homes to beat the slowdown in real estate
Realty developers are rapidly shifting their focus from building luxury housing projects to affordable housing projects in order maintain their sales growth and reduce the impact of declining sales volume in other segments of the property market. As per a latest Cushman and Wakefield report, the shift has been witnessed after the government announced favourable guidelines for developers building affordable house units. Some of these guidelines include easing access of loans from banks such as SBI, PNB and HDFC Bank, grant of infrastructural status to affordable housing and reintroduction of RERA Act.
17th Mar 17 Affordable housing emerges as the focus area for real estate developers
Government of India, in Union Budget 2017 announced various measures to encourage real estate developers operating in the Affordable Housing segment. Some of these measures include grant of infrastructure status to affordable housing, reintroduction of Real Estate Regulations Act and improving availability of housing loans from banks. As a result of these announcements, developers are shifting their focus from building luxury house units to affordable house units to drive sales and mitigate the impact of the overall slowdown in the property market.
11th Mar 17 Syndicate Bank to auction land of GVK group to recover outstanding loans
Syndicate Bank has announced the auction of land owned by GVK Group in GVK Perambular SEZ Pvt Ltd in Tamil Nadu as a part of recovery of its outstanding loans of Rs. 175 crore. The bank has also issued NOC to HDFC Ltd for ceding on the mortgaged property. HDFC Ltd has also disbursed loans of Rs. 1,075 crore to GVK Group.
16th Mar 16 HDFC Bank launches loan against shares in minutes
HDFC Bank in collaboration with NSDL has launched a digitised loan platform to provide loans against securities in three minutes. Customers can get instant loans digitally by pledging their shares,dematerialized by NSDL. The maximum loan amount offered under the scheme is Rs 20 lakh with a LTV (loan to value of shares) of around 50 percent.
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