Maximize Your Property’s Value – Instant Insights, Easy Application!
Introduction:
Get up to 65% of your property’s value as a loan to meet your financial needs—whether it’s for business investment, home renovation, property purchase, a family wedding, or your children’s education. Loan Shopie offers Loan Against Property at attractive interest rates, making it easier to fund your goals with flexibility and ease.
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Property Loan: Key Features
Higher Loan Amount
Loan Against Rent Receivables
Easy Repayment Options
Benefits for the Self Employed
Transparent Processing
All you need to know about Loan Against Property
High Loan Amounts
Get a loan worth up to 65% of the market value of the property. Our high loan amounts also come with longer repayment tenures, all at attractive interest rates.
Loan Against Rent Receivables (LARR)
Get up to 50% of the value of your commercial property as loan against rental receivables.
Amount depends on net rentals, balance tenure of rental agreement and other factors.
Fulfil Your Every Need
Both residential and commercial properties* are accepted as collateral, and the money from the HDFC Bank Loan Against Property can be used for a variety of personal or business needs.
*Conditions Apply.
Easy Repayment Options
With competitive interest rates, you can easily repay your loan in low EMIs, or choose our Dropline Overdraft Facility.
Transparent Processing
All our charges are communicated up front, at the time of the processing of the loan. No hidden charges or fees.
Quick and Efficient Servicing
With our doorstep service, your Loan Shopie’s Loan Against Property will be processed quickly and easily.
Benefits for the Self Employed
Self-employed individuals can benefit from our customised loan options and specially designed programmes.
Easy Debt Consolidation
Remember, our Loan Shopie Loan Against Property is an excellent debt consolidation tool.
Turn Around Time
Application will be decisioned within 7 days from the date of its receipt and subject to submission of all the documents and details by the customer as may be required by the Bank and Application in cases which involve customer availability for completing a field investigation or fie search & valuation of a property ,will be decisioned within 25 days from the date of its receipt.
The following people are eligible to apply for a Property Loan:
- Salaried Individuals
- Self Employed
Enclosed below are HDFC Bank Loan Against Property Interest Rates & Charges, offered through Loan Shopie.
| Charges | Loan Against Property (LAP) / Loan for Commercial Property (LCP) / Loan Against Rent Receivables (LARR) | Dropline Overdraft Against Property | |
| Rack Interest Rate Range | Policy Repo Rate* + 3.00% to 4.50%= 9.50% to 11% | ||
*Policy Repo Rate- 6.50% | |||
Above mentioned interest rate is applicable on Operating Limit. Interest rate of 18% p.a. will be levied on the amount utilized above | |||
| Rack Fixed Interest Rate Range | 11.80% to 13.30%+ *Option In pursuant to the circular No. RBI/2023-24/55 DOR.MCS.REC.32/01.01.003/2023-24 in case of increasing interest rates of term loans and for borrowers with personal end use facility . Same can be availed of once in during the loan tenor. | ||
| Charges for conversion of ROI from floating to fixed(who have availed EMI based floating rate Personal Loans) *Please refer the RBI circular No. DBR.No.BP.BC.99/08.13.100/2017-18 on “XBRL Returns – Harmonization of Banking Statistics” dated January 04, 2018.”. | Upto Rs 3000 | NA | |
| Loan Processing Charges* | Maximum of 1% of loan amount (* Minimum PF of Rs.7500/-) | ||
| Pre-Payment /Part Payment Charges | |||
| Pre-Payment /Part Payment Charges | No prepayment charges shall be applicable for part prepayment once during a financial year only if the amount being prepaid does not exceed 25% of the principal amount outstanding at the time of such prepayment. 2.5% + Goods and Services Tax (GST) of principal outstanding being prepaid or at such rates as decided by the Bank if the amount being prepaid is more than said 25%. Charges shall be applicable on the amount in excess of said 25%. | Not Applicable | |
Nil Part Payment charges for floating rate term loan availed by Individual borrowers for End Use other than Business Purpose | |||
| Nil Part Payment charges for floating rate term loans availed by Micro & Small Enterprises | |||
| Premature closure charges | |||
| Floating rate term loan availed by Individual borrowers for Business Purpose | 2.5 % of the Principal Outstanding | Maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months of the date of disbursement. | |
| >60 months after the disbursement of the Loan – NIL Charges | Post 12 months maximum of 2% of the operating limit prevailing at the time of prepayment . | ||
| Floating rate term loan availed by Individual borrowers for End Use other than Business Purpose | NIL | Maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months of the date of disbursement. | |
| Post 12 months maximum of 2% of the operating limit prevailing at the time of prepayment . | |||
| Floating rate term loans availed by Micro & Small Enterprises | NIL | NIL | |
| Floating Rate term loans availed by Non Individual borrowers* | Maximum of 2.5% of the Principal Outstanding. | Maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months of the date of disbursement. | |
| >60 months after the disbursement of the Loan – NIL Charges | Post 12 months maximum of 2% of the operating limit prevailing at the time of prepayment . | ||
| Premature closure charges- Fixed rate loans | For the Facility with Fixed Interest Rate at the time of prepayment: No prepayment charges shall be applicable for part prepayment once during a financial year only if the amount being prepaid does not exceed 25% of the principal amount outstanding at the time of such prepayment. 2.5% + Goods and Services Tax (GST) of principal outstanding being prepaid or at such rates as decided by the Bank if the amount being prepaid is more than said 25%. Charges shall be applicable on the amount in excess of said 25%. Nil Prepayment charges on fixed rate loans if loan is booked under priority sector lending and Borrower(s) type is Small or Micro & Loan amount is less than or equal to ₹ 50 lacs. | NA | |
| Delayed Instalment payment Charge | 18% per annum plus applicable government taxes on overdue installment amount | – | |
| Stamp Duty & other statutory charges | As per applicable laws of the state | ||
| Payment Return Charges | Rs 450/- | ||
| Amortization Schedule Charges* | Rs. 50/- per instance ( Customer can also download from website free of cost) | ||
| Repayment mode change charges* | Rs. 500/- | ||
| Legal/Repossession & Incidental charges | At actuals | ||
| Annual Maintenance Charge (AMC) for Features of Plus Current Account | Not Applicable | Rs. 5000 P.A. Plus (Please refer the | |
| Commitment charges for overdraft accounts (*Minimum charges Rs 5000/-) | Not Applicable | If average quarterly utilization > 30% No commitment fee charges to be charged. If average quarterly utilization < 30% Charges upto 0.10% will be charged on the difference between the actual utilization and expected average utilization of 30%. Charges to be levied quarterly. | |
| Conversion charges for Change in Reference rate (BPLR/ Base rate/MCLR to Policy Repo Rate (for existing customers) | NIL | NIL | |
| Custody charges | Rs 1000/- per month for non-collection of collateral documents beyond 60 days, from date of closure of all loans/facilities linked to the collateral. | ||
| Revision in spread | 0.1% of Principal Outstanding OR Rs. 3000 whichever is higher Per proposal | ||
| Charges for Non Adherence of ESCROW Account of Sanction Terms | 2% charges per annum on principal outstanding for non compliance of agreed terms upto its fulfillment – (Charged on Quarterly basis) (Applicable in LARR cases only) | ||
| Charges for Non-Compliance of Sanction Terms | 2% charges p.a. + applicable taxes on principal outstanding for non-compliance of agreed terms up to its fulfillment, Subject to a Maximum of Rs 50000/-+taxes (Charged on monthly basis) | ||
| CERSAI Charges | Rs. 100 for each property | ||
| Property Swapping / Partial property Release* | 0.1% of the loan amount. | ||
| Min – Rs. 10,000/-. Max of Rs 25000/- per property | |||
| Document Retrieval charges post Disbursement* | Rs. 75/- per document set. (Post disbursement) | ||
Rates offered to customer during the period Jul’24 to Sep’24
| Segment | IRR | APR | ||||
|---|---|---|---|---|---|---|
Min | Max | Avg | Min | Max | Avg | |
MORTGAGE | 8.35% | 11.00% | 9.55% | 8.35% | 11.00% | 9.55% |
Note:The above charges are exclusive of taxes and statutory levies as applicable from time to time. The above charges are the maximum charges applicable for each type of charge.
10% discount to Senior Citizen (main borrower) on all the above service charges
“Effective 31-Dec-23, in case of upward revision in interest rate, subsequent to change in external benchmark lending rate / repo rate, customers having floating rate loans funded for personal end-use will have an additional one-time option to convert to a Fixed Rate subject to our internal policies and checks. “
Bank reserves the right to enquire or ask the documentary proof of source of funds for closure request of loans.
The Bank reserves the right to vary any of the above charges from time to time with due intimation to the customer. Revised Charges will be communicated to the customer through Banks website and/or by any other acceptable mode of communication.
For Salaried Individuals:
A copy of any of the following as proof of residence:
- Ration Card
- Telephone Bill
- Electricity Bill
- Voter’s ID Card
A copy of any of the following as proof of identity:
- Voter’s ID Card
- Employer’s Card
Latest Bank Statement/Passbook from where you can show a salary/income being credited for the previous 6 months
Salary slip for the previous 6 months showing all deductions
Form 16 for the previous 2 years
Copies of all the property documents of the concerned property to be pledged for the loan
For Self Employed Professionals/Individuals
Certified Financial Statement for the previous 3 years
A copy of any of the following as proof of residence:
- Ration Card
- Telephone Bill
- Electricity Bill
- Voter’s ID Card
A copy of any of the following as proof of identity:
- Voter’s ID Card
- Employer’s Card
Latest Bank Statement/Passbook from where you can show a salary/income being credited for the previous 6 months
Copies of all the property documents of the concerned property to be pledged for the loan
Additional Documents for LARR
Leave and License agreement copy
12 months bank statement in which rentals are credited
FAQs on Loan Against Property
Yes, prepayment or foreclosure charges may apply based on the loan agreement. Generally:
- Floating Rate Loans – No prepayment charges for individuals. Fixed Rate Loans – Charges may apply as per lender policies.
- It’s best to check with Loan Shopie for the latest foreclosure policies.
The loan amount is determined based on several factors, including:
- Market value of the property (up to 65% of the property’s worth) Income and repayment capacity of the borrower
- Existing financial obligations and credit history
- Loan Shopie will assess your eligibility and provide the best loan amount based on your profile.