Avail HDFC Bank's Loan Against Property (LAP) for your personal or business needs. Both residential and commercial properties can be mortgaged for availing a loan against property. HDFC Bank provides a smooth & hassle-free LAP to both salaried and self-employed individuals. HDFC Bank's Loan Against Property is a simple solution to your financial needs.
| 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 |
*HDFC BANK does not source any Home Loan business from any Lending Service Providers (LSPs).
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.
KYC Documents
KYC Documents
Income Documents
Property Related Documents
Other Requirements
| 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 Proof | Address Proof |
| 1 | Passport, the validity of which has not expired. | |||
| 2 | Driving license which has not expired. | |||
| 3 | Election /Voters identification card | |||
| 4 | Job card issued by NREGA duly signed by the officer of the State Government | |||
| 5 | Letter issued by the National Population Register containing details of name, address. | |||
| 6 | Proof of possession of Aadhaar Number (to be obtained voluntarily) |
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.
| Document | Salaried | Self Employed Professional | Self Employed Non Professional |
|---|---|---|---|
| Last 3 months' Salary Slips | |||
| Last 6 months' Bank Statements, showing salary credits | |||
| Latest Form-16 and IT returns | |||
| Income Tax Returns along with computation of income for the last 3 Assessment Years (of both the individual and the business entity and attested by a CA) | |||
| Last 3 years’ Balance Sheet and Profit & Loss A/c Statements, with Annexures / Schedules (of both the individual and the business entity and attested by a CA) | |||
| Last 6 months' Current A/c Statements of the business entity and Savings Account Statements of the individual |
| Document | Salaried | Self Employed Professional | Self Employed Non Professional |
|---|---|---|---|
Title Deeds including the previous chain of the property documents |
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Proof of no encumbrances on the property |
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Approved plan if applicable |
| Document | Salaried | Self Employed Professional | Self Employed Non Professional |
|---|---|---|---|
| Own Contribution Proof | |||
Employment Contract / Appointment Letter in case current employment is less than year old |
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Last 6 months' Bank Statements showing repayment of any ongoing loans |
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Passport size photograph of all the applicants / co-applicants to be affixed on the Application form and signed across. |
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Cheque for processing fee favouring HDFC Bank Ltd |
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Business Profile |
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Latest Form 26 AS |
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List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company |
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Memorandum and Articles of Association of the Company |
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Partnership deed in case of the business entity being a partnership firm |
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Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc. |
*All documents to be self-attested. The above list is indicative in nature and additional documents can be asked for.
Processing Fees & Charges
Processing Fees & Charges
Prepayment Charges
Conversion Fees
Salaried/Self Employed:
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 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.
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.
Delayed payment of interest or EMI shall render the customer liable to pay additional interest up to 24% per annum.
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.
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
| Type | Charges |
|---|---|
| Check Dishonour Charges | ₹300** |
| List Of Documents | Up to ₹500 |
| Photocopy 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 Bank Maxvantage Scheme | Rs.250/- plus applicable taxes/statutory levies at the time of reversal |
| A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest | B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed 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**. | 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*. |
| A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest | 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 prepayment. | 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 |
| 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** |
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:
The Borrower will be required to submit such documents that HDFC Bank 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 Bank 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 Loan Against Property (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 loan account information 24x7. The following options of conversion are available to an existing customer of HDFC Bank:
| 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 Bank 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 Bank 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.
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| Important Factor | Criteria |
|---|---|
| Age | 21-65 years |
| Profession | Salaried / Self Employed |
| Nationality | Resident Indian |
| Tenure | Up to 15 years |
| Self-Employed Professional | Self Employed Non-Professional (senp) |
|---|---|
| Doctor, Lawyer, Chartered Accountant, Architect, Consultant, Engineer, Company Secretary etc. | Trader, Commission Agent, Contractor etc. |
*All co-applicants need not be co-owners. But all co-owners need to be co-applicants to the loans. Generally, co-applicants are close family members.
| Existing HDFC Customers | New 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 Bank. |
Loan Against Property being availed should not, generally, exceed 50% of the Market Value of the property, as assessed by HDFC Bank. |
It was very easy to complete disbursement process with support of HDFC staff
”For people like us with a busy schedule hassle-free service online without visiting the bank was really a lifesaver.
”In this challenging situation, the entire process was carried out in a smooth way. Even the query raised was sorted out in a very short time with no hurdle. Every person involved in the inquiry procedures were courteous.
”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 Bank.
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 Bank. For New Customers, loan against property being availed should not, generally, exceed 50% of the Market Value of the property, as assessed by HDFC Bank.
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
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 Bank.
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 Bank’s products and services kindly visit the nearest HDFC Bank branch.
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Individual Housing: (Jan-March 2023 Quarter)
| Min (%) | Max (%) | Wt Avg. (%) | Mean (%) |
|---|---|---|---|
| 8.30 | 13.50 | 8.80 | 9.88 |
Individual Non-Housing: (Jan-March 2023 Quarter)
| Min (%) | Max (%) | Wt Avg. (%) | Mean (%) |
|---|---|---|---|
| 8.35 | 15.15 | 9.20 | 10.32 |
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 Bank Ltd Retail Prime Lending Rate (RPLR) Housing is being increased by 25 bps to 18.55% w.e.f March 1, 2023
HDFC's Bank Ltd Retail Prime Lending Rate (RPLR) Non-Housing is also being increased by 25 bps to 12.20% w.e.f March 1, 2023