HDFC Bank Loan Against Property Apply Online 2024

Loan up to 15 crores | 100% Digital Process | Quick Approval

Get a loan against your property from HDFC Bank, allowing you to access up to 75% of the property's value to fulfil your emergency financial needs that can serve both personal and business requirements. Tata Capital offers competitive mortgage loans, with interest rates starting from just 10.10% - 14.00% p.a., with a repayment period of up to a maximum of 20 years.

HDFC Bank Loan Against Property Details

Interest rate10.25% to 11.00% p.a. onwards.
Loan Amount Up to 75% of the property cost.
Eligible Monthly Income Minimum ₹25,000 p.m.
Processing Fees Up to 1.00% of loan sanctioned
Loan Tenure 10 to 20 months

HDFC Bank Loan Against Property Interest Rate

Borrowers have the option to select either a fixed or floating interest rate, with charges varying based on the choice made. Here are the specifics:

Fixed Interest Type:

  • Residential properties: Interest rates range between 10.25% and 11.00%.
  • Commercial properties: Interest rates range from 10% to 10.25%.

Floating Interest Type:

  • Residential properties: Interest rates range between 10.25% and 11.00%.
  • Commercial properties: Rates vary from 10.25% to 11.00%.

HDFC Bank recently modified the benchmark rates for Loan Against Property (LAP), Loan Against Commercial Property (LCP), and Loan Against Rent Receivables (LARR) to the Policy Repo Rate. They apply an additional spread of 3% to 4.5% over their current Policy Repo Rate of 6.50%. As a result, this sets the total lending rate within the range of 10.25% to 11.00%.

Interest Rate10.25% - 11.00%

Eligibility Criteria for HDFC Bank Loan Against Property

The eligibility for HDFC Bank loans against property can be quickly calculated online through a LAP Calculator. Essential factors determining YES Bank LAP eligibility are age, income, repayment capacity, and property value. To secure a maximum loan amount of up to 75% of the property value, the minimum age requirement is 21 years. Both salaried individuals and self-employed applicants are eligible to apply for YES Bank Loan Against Property, assisting with both planned and unplanned expenses.

CriteriaSalariedSelf-Employed
Citizenship All Indian citizens are eligible to apply for the YES Bank lap loan. All Indian citizens are eligible to apply for the YES Bank lap loan.
Net Monthly Income ₹25,000 ₹200000 Lakh per annum
Age 23 to 65 years. 23 to 65 years.
CIBIL Score 750 > The better the CIBIL score the lower the interest rate. 750 > The better the CIBIL score the lower the interest rate.

Documents Required for HDFC Bank Loan Against Property

Getting a YES Bank loan against property is streamlined and hassle-free in terms of documentation. The application requires the following documents.

For Salaried Applicants:

Identity Proof for KYC PAN Card, Aadhaar Card, Voters ID or Driving License.
Address Proof Aadhaar Card, Passport, or Driving Licence, Utility Bills.
Payslips Last 3 months salary slips/latest salary certificate
Bank Statements for past 3 months (Bank passbook for last 6 months)
Other Financials Form 16
Property Documents
  • Title Deeds including the previous property link documents
  • Allotment Letter or / Agreement from the buyer
  • Copy of the plan and permission approved by Local Authorities
Other documents 26AS of last 2 years of applicant & co-applicant
Other Financials
  • Agreement to Sale if purchase case
  • Property Paper with complete chain of last 13 years

Documents required for Self-employed:

Identity and Address proofs Same as salaried individuals.
Income proofs

IT Returns accompanied by the computation of income for a minimum of three years (Individual as well as a Business entity - attested by a chartered accountant).

Financial Statements for the last three years.

Six months' Current Account statement of the business and savings accounts of the individual's.

Property Documents
  • Title deeds of the property including the previous chain of documents to establish connectivity.
  • No Encumbrance Certificate.
  • Approved Plan, if applicable.
Other documents
  • Business Profile
  • 26AS of last 2 year of applicant & co-applicant .
  • In the case of the applicant is a company.

For Co-Applicant KYC:

Aadhaar Card, PAN Card, Passport Size Photo.

Comparison of Loan Against Property Interest Rates of HDFC Bank with other Banks/NBFCs

Bank NameInterest Rate RangeProcessing Fees
HDFC LAP Loan10.25% to 11.000.50% to 1.00
AXIS LAP Loan10.25% to 13.000.50% to 1.00
ICICI LAP Loan10.25% to 12.000.00% to 2.00
Kotak LAP Loan9.15% to 10.001.00% to 3.00
Standard Chartered LAp Loan9.25% to 13.000.00% to 1.00
Bajaj Finserv Home Loan10.25% to 13.000.00% to 3.50
SBI LAP Loan9.00% to 20.000.00% to 1.00
IDFC LAP Loan9.00% to 20.000.00% to 1.00
Tata Capital LAP Loan10.25% to 14.000.00% to 2.00
YES LAP Loan9.40% to 10.250.25% to 2.00
BOB LAP Loan10.55% to 10.000.25% to 1.00
PNB LAP Loan10.40% to 10.750.25% to 1.00
IndusInd LAP Loan8.60% to 10.750.25% to 2.00
Aditya Birla LAP Loan9.00% to 14.000.25% to 2.00
Incred LAP Loan10.25% to 15.000.25% to 2.00
Poonawalla LAP Loan8.50% to 22.000.25% to 2.00
DCB LAP Loan9.75% to 15.000.25% to 2.00
Piramal LAP Loan11.00% to 15.000.25% to 2.00
Aadhar Finance LAP Loan11.25% to 16.500.25% to 2.00
L&T LAP Loan8.65% to 15.000.25% to 2.00
IIFL11.40% to 15.000.25% to 2.00

Fees and Other Charges of HDFC Bank Loan Against Property

Rate of Interest 10.25% to 11.00% p.a onwards
Processing Fees 0.50% to 1.00% on the loan amount
Prepayment and foreclosure charges Up to 2% of the outstanding balance.
Stamp Duty and other statutory charges As per the laws of the state
Cheque swapping charges Up to ₹500 + applicable charges
Amortisation Schedule Charges ₹200
Overdue EMI interest A monthly penalty of 2% will be applied to the principal amount or on overdue EMI.
Cheque bounce charges
  • First return: Rs.450 + taxes per instance
  • Second return in a month: Rs.500 + taxes
  • 3rd return onwards: Rs.550 + taxes
Document Retrieval Charges ₹75 per document set (after disbursement).
Cost of Photocopies of Title Documents Up to ₹500

Features and Benefits of the HDFC Bank Loan Against Property

HDFC Bank provides convenient repayment options and facilitates debt consolidation. Here are the key points:

  • Competitive and attractive interest rates start as low as 10.25% per annum.
  • Maximum loan tenure extends up to 15 years.
  • Loans are offered against fully constructed, residential, and commercial properties.
  • Available for both personal and business needs, covering expenses such as medical emergencies, weddings, education, travel, and more.
  • Option to transfer similar loans from other banks to YES Bank, benefiting from their interest rates.
  • Extended repayment periods resulting in smaller Equated Monthly Installments (EMIs).
  • Simplified documentation process.
  • Online eligibility checks and loan applications for a loan against property.
  • A choice between fixed-rate and floating-rate interest options.
  • Funding up to 75% of the property value for existing YES Bank customers and up to 50% for new customers.

* Note: Wherever the details regarding interest rates, processing fees and tenure are mentioned, they may differ as per the lenders' discretion. The actual eligibility will be determined based on the borrowers' risk profile during the loan application process.