HDFC Loan Against Property - Features of HDFC Loan against property

HDFC gives you 60% of the value of your property when you take a Loan against Property. You can use this loan for weddings, for home renovation, for investing in a business, for meeting emergencies, and so on. What sets HDFC LAPs apart is that these come with attractive rates of interest.

Features of HDFC Loan against property

• Get high loan amounts- Most banks and NBFCs have a limit as to how much they want to give you. Well, so does this bank, but at least it gives you more money as a loan. It also offers longer repayment periods and attractive interest rates. You can expect 60% to 65% of the property’s value as loan.
• Use the loan for anything: You can use both residential and commercial properties to get this type of loan, and can use the funds for any personal and business requirements.
• Easy repayment: As you have seen, you get a competitive rate of interest here, which means you can repay even more easily. You can also choose the Dropline Overdraft Facility.
• Transparent processing: All charges shall be told to you from the very beginning. Thus, there shall be no hidden charges.
• Fast and efficient service: HDFC is known for its doorstep service.
• Benefits galore for the self-employed: There is a specially-designed program just for the self-employed.
• Ease of debt consolidation: HDFC’s LAP gives you a change to get its renowned debt consolidation tool.
  

HDFC Bank Loan Against Property Schemes

HDFC offers four different types of Loans, as listed below:

• LAP (Term Loan)
• Dropline Overdraft (DOD)
• Loan for Purchase of Commercial Property (LCP)
• Loan Against Rent Receivables (LARR)
  

Dropline Overdraft

DOD Product is a unique overdraft limit based facility where the limit is downsized monthly. You can utilize the limit as per your requirement, and the interest rate is charged only on the used amount.

The limit drop amount calculation is done as shown below

Drop amount = Limit or Loan amount / Loan Tenure

Flexibility of repayment: No EMI

Loan for Purchase of Commercial Property

This loan scheme is useful when you are purchasing a commercial property, and it needs proper approval documents for commercial usage by the relevant civic authorities. LCP is restricted only to properties like shops and office premises.

Loan Against Rent Receivables

This scheme is offered only to approved borrowers who have a stable and assured income source in the form of rent from a credible lessee like big organizations and MNCs.

How to Apply for HDFC Bank Loan Against Property

Online Application:

You can visit the HDFC Bank website and apply for the loan that best suits your requirements by  filling in the application form.

Then, a bank representative will call back to guide you through the application process.

Offline Application:

To apply for HDFC Loan Against Property, you can visit the nearest HDFC Bank branch to do so.

HDFC Ltd. also offers a Missed Call facility to its borrowers. You can call +91-9289200017 anytime and then wait for the bank executive to call back and follow up on your request.