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HDFC Loan Against Property Eligibility Calculator

Loan Against Property Eligibility HDFC

Last Updated 03rd May 2022

Eligibility Criteria Salaried Self Employed
Age of Eligible Borrower 24 - 60 years 24 - 65 years
Maximum Loan Tenure 15 years 15 years
Eligible Monthly Income ₹ 18,000 ₹ 25,000
  • HDFC loan against property is calculated based on your age, income, property value and repayment capacity.
  • Use MyLoanCare Loan against property eligibility calculator to calculate your eligibility for SBI loan against property online without any hassles.
  • You can increase your HDFC mortgage loan eligibility by adding earning family members, business firms and companies' owners by main applicant as co-applicants or by applying for a longer tenure loan.
Loan Against Property Eligibility Calculator

HDFC Loan Against Property Eligibility

HDFC allows you to fund immediate or urgent needs with a loan against property. HDFC loan against property is a secured loan that does not have any end usage restrictions. The bank offers different types of mortgage schemes at affordable rates to eligible salaried and self-employed individuals. HDFC loan against property eligibility is based on factors like age, salary, occupation, property type and credit score. Let’s understand these factors in detail:

HDFC Loan Against Property Eligibility Based on Age

    HDFC considers your age as one of the important parameters to calculate your HDFC property loan eligibility. To be eligible for availing a loan from HDFC, one has to be of 24 years of age. The maximum age for loan from HDFC can be 60 years. HDFC eligibility calculator takes age as an input to calculate your maximum loan tenure, loan EMI and hence, your loan amount eligibility. For instance, if your current age is 25 years, you can avail the maximum loan for 15 years and if your age is near retirement, say 60 years, you can avail the loan for lesser tenure.

HDFC Loan Against Property Eligibility Based on Income

  • Net Income: Your monthly income determines your eligibility to get the amount of loan after meeting all the living expenses. HDFC typically applies a multiplier of up to 60 times on the monthly net income of the borrower to calculate the mortgage loan eligibility. However, the net monthly income required by HDFC to approve a property loan is ₹70,000. For example, if your net monthly income is ₹ 70,000 and you take a mortgage loan of ₹ 50 Lakh at 7.65% interest rate offered by bank, the maximum loan amount that you will be eligible for (assuming you have no other EMI’s to pay) would be as follows:
    Age Net Monthly Income (₹)
    50,000 75,000 100,000
    25 years 34.74 Lakh 52.11 Lakh 69.48 Lakh
    30 years 34.74 Lakh 52.11 Lakh 69.48 Lakh
    35 years 34.74 Lakh 52.11 Lakh 69.48 Lakh
    40 years 34.74 Lakh 52.11 Lakh 69.48 Lakh
    50 years 27.20 Lakh 40.80 Lakh 54.40 Lakh
  • You may consider repaying any loans with short tenure and high EMI in order to increase your HDFC loan against property eligibility.
  • Nature of Employment: HDFC requires minimum income history and job stability of more than 1 years for salaried individuals and of 5 years for self-employed individuals.

HDFC Property Loan Eligibility Based on Value of Property

  • Value of Property: HDFC does not finance the entire property value. The maximum loan against property eligibility would depend upon the value of the property. You can get a maximum of 65% of property’s value as a loan against residential property. Suppose you intend to take a loan on a property worth ₹ 20 Lakh. The amount of loan you will be eligible for will vary with the nature of property. A residential property worth ₹ 20 Lakh will fetch the highest loan amount of ₹ 13 Lakh. On the other hand an industrial property of ₹ 20 Lakh might allow you to take a lower loan amount of ₹ 13 Lakh. The percentage of HDFC loans will get lower if it is against commercial property.
    Property Type LTV Property Value Maximum Loan Amount
    Industrial Property 65% ₹ 20 Lakh ₹ 13 Lakh
    Commercial Property 50% ₹ 20 Lakh ₹ 10 Lakh
    Residential Property 65% ₹ 20 Lakh ₹ 13 Lakh
  • Co-Applicant: In order to enhance the eligibility of a loan with HDFC, you can apply with a co-applicant such as a spouse or parents. This increases the total eligible income for availing a property loan and enhances the loan amount of eligible loans. As mentioned earlier, every bank has its own set of eligibility criteria. In the case of NBFCs, you can expect higher eligibility.
  • Property Documents: Your property’s legal documents should be satisfactory and be cleared by the legal team of HDFC.

HDFC Eligibility Based on CIBIL Score

Based on your credit score, a bank or any other financial institution decides whether you are eligible for a loan or not and is considered as one of the important parameters to get the loan. Regular payment on secured loans can also increase your CIBIL score. HDFC requires a minimum credit score of 650 to be eligible for a property loan.

HDFC Mortgage Loan Eligibility Based on FOIR

HDFC calculates FOIR (Fixed Obligation to Income Ratio) to estimate the amount of loan against property you can avail. Your fixed obligations to monthly income ratio should not be more than 65% to get a mortgage loan from HDFC. Always calculate your eligibility with the HDFC mortgage loan calculator to estimate your eligible loan amount before applying for a loan and reduce the chances of getting your loan application rejected.

How to Calculate HDFC Loan Against Property Eligibility?

You can check SBI Loan against Property eligibility online using MyLoanCare Eligibility calculator using the steps mentioned below:

  • Fill in the required details like name, mobile number, income etc in Loan against property eligibility calculator form and click on ‘Check Eligibility’.
  • Complete OTP authentication by entering OTP received on the entered mobile number.
  • Enter additional details about your profession, the reason for taking a home loan, and your current work experience.
  • Verify all the details and click ‘Get Offers’.
  • You can now view the multiple banks for which you are eligible based on the details filled in by you.
  • You can choose the bank after a complete comparison, or a MyLoancare advisor will contact you in a while to assist you with the process.

HDFC Loan Against Property Schemes Eligibility

HDFC offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular HDFC loan against property products with their basic eligibility are listed as follows:

Loan Against Residential Property
  • Get loans up to 60% of the value of your residential property with a loan against residential property.
  • Avail Commercial Property Mortgage Loan individually or with joint owners for a tenure upto 15 years.

Documents Required for HDFC Loan on Property

To avail HDFC loan on property, you will be required the following documents:-

  • Application form
  • Passport size photograph
  • Identity proof- PAN card, Aadhar card, Passport, Voter ID card, Driving License
  • Address Proof- Ration card, Utility bill, Driving license
  • Age proof- PAN Card, Passport, Class 10th certificate
  • Income proofs- Bank Statements, last 6 months salary slips, Form 16, Income Tax Returns for the last 3 years
  • Processing fee cheque
  • Property documents of mortgaged property

Compare the Eligibility Criteria of Top Banks

FAQs

What factors determine the eligibility criteria of property loan from HDFC?

The factors that determine the eligibility criteria of HDFC property loan are:-

  • Age of the applicant
  • Monthly income
  • Existing liabilities
  • CIBIL Score
  • Value of the property to be mortgaged

Am I eligible for HDFC loan against property if my salary is 20000?

The minimum income for salaried employees to get a loan against property should be ₹ 25,000 per month. It is difficult to get approval for the loan, however if your CIBIL is high, you may negotiate with the bank or add an co-applicant to improve your eligibility.

What should be the minimum net monthly income of the customer to get HDFC mortgage loan?

The minimum income for salaried employees to get a loan against property should be ₹ 18,000 per month. If you do not meet the eligibility criteria you can increase income eligibility by adding a co-applicant and maintaining a good cibil score above 650.

What is the tenure of an HDFC property loan?

HDFC offers property loans for a tenure upto 15 years. However, the longer the loan tenure, the higher will be the eligibility. Also, higher loan tenure means a higher rate of interest.

How much HDFC mortgage loan can be availed by the applicant?

You can avail mortgage loan from HDFC up to 50% of the market value of the property against an residential property whereas you can avail up to 65% of the market value if you decide to pledge a commercial property.

Can I get a loan on my property from HDFC if I am not an HDFC customer?

Yes, you can get a loan against property from HDFC if you are not an HDFC customer. However, you can get a competitive interest rate if you are already a customer of a bank.


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HDFC Loan Against Property News - May 2022
  • 2022-05-03 : HDFC Profit Rises by 16% for Q4 of FY 2022
    Housing Development Finance Corporation has reported a 16% year-on-year rise in its standalone net profit for the March quarter to Rs 3,700 crore on the back of strong growth in loans and net interest income (NII).
  • 2022-01-04 : HDFC Assigns Loans Amounting to ₹27,591 Crore
    Housing Development Finance Corporation Ltd has assigned loans amounting to ₹27,591 Crore in the last year. The loans were ₹7,468 crores as compared to ₹7,076 crores in the corresponding quarter of the previous year.
  • 2021-11-02 : HDFC Bank Net Profit Rises By 32 Percent
    HDFC reported a 32 percent year-on-year (YoY) rise in net profit at Rs 3,780.5 crore. The lenders total revenue from operations rose 4.1 percent on-year to Rs 12, 215.95 crore in the quarter. The assets under management stood at Rs 5.97 lakh crore at the end of the September quarter as against Rs 5.40 lakh crore in the year ago quarter.
  • 2021-10-18 : HDFC Bank Posts 17.2 Percent Profits In Q2
    Private sector bank, HDFC Bank has posted a 17.6 percent rise in net profit at Rs 8,834.3 crore in the second quarter ended September 30, 2021. The lender had posted a net profit of Rs 7,513.1 crore in Q2 of 2020.
  • 2021-03-08 : HDFC cut its PLR to 16.05%
    HDFC reduced its Prime lending rate to 16.05%. The revised rates are effective from March 2021.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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