HDFC: Loan Against Property..!


HDFC Loan Against Property help you encash the present market value of the property by taking a loan by mortgaging the property.

Features of Loan Against Property..!

Purpose :

Loan can be for any purpose. However, the funds should not be used for speculation or / any illegal purposes.

Customers have benefited by taking loans to meet the following funding requirements

* Medical Expenses

* Business Expansion

* Property

* Residential

* Non Residential

* Should be Fully Constructed

*  Should be a Freehold property having a clear and marketable title.



Adjustable Rate Home 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 home equity 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

Maximum Loan

Existing Customers
* Balance of 60 % of the market value and present loan outstanding

New Customers
* 50 % of the market value of the property (including the cost of the land)

Subject to

* Minimum Market Value of the property being Rs.5 Lacs for Residential property & Rs.7.5 Lacs for Non Residential Property

* Repayment Capacity of the customer



Maximum Term

Property Type   Repayment Option        No. of Years*
Residential         EMI Based                         15
Non Residential EMI Based                          15

Residential and Non Residential Simple Interest 

* Subject to retirement age of the customer



Interest Rate
                         
Wef : 1st Oct 2012        RPLR: 16.50%  

Loan Slab Applicable Variable rates % ( Monthly Rest Basis )     Basis : RPLR minus Spread

Any Loan Amount 12.75 % to 13.25 %    RPLR - 3.75 % to  3.25 %

The above rates are subject to change without notice.

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