Fulfill your personal and business needs by pledging your property against a loan. With speedy loan approval and faster loan disbursal, HDFC bank loan against property is the right option for you. Loan against property is a type of a secured loan wherein you get loan against your property, which is kept as a collateral. You can avail this loan for a residential as well as a commercial property and even loan against industrial property, loan against open plots and loan against developer property. When the property is mortgaged, a fixed percentage of the current market value of the property (about 60-70%) is offered to a borrower as a loan.
Loan against property is preferred against personal loans as the interest rate is comparatively lower. And unlike gold loans, you do not have to deposit the property and not use it. You can still live and just keep the property as a collateral while you enjoy the benefits of loan. Loan against property is highly preferred which is why all banks and independent financial institutions offer it at attractive interest rates.
Overview Of HDFC Bank Loan Against Property
HDFC bank is a leader in providing one of the best loan services in India. Their speedy loan disbursal process, minimal documentation procedure, attractive interest rates and special offers for existing members makes it highly popular bank for loan against property. Over the years, HDFC bank has won the trust of its customers and become a market leader by offering flexible loan products that are transparent and consumer-friendly.
Why Pick HDFC Bank Loan Against Property?
HDFC bank loan against property is highly regarded and here’s why you should choose this bank:
1. Speedy Loan Processing – HDFC bank is one of the few banks that has enabled online loan processing system which is a quick and easy method to get your loan approved within minutes!
2. Faster Loan Disbursal – Get cash into your bank account in the shortest timeframe with HDFC’s speedy loan disbursal process.
3. Transparent Loan Structure – HDFC Bank follows a transparent loan structure with no hidden fees or charges and a clear communication process at every stage of the loan application process.
3. Attractive Interest Rates – HDFC bank offers attractive interest rates to attract customers and highly competitive.
5. Doorstep Facility – HDFC bank offers doorstep facility for loan against property that makes it convenient to avail the loan.
Features of HDFC Bank Loan Against Property
HDFC bank’s loan against property is great to meet your financial needs. Here are its features:
♿ Competitive Interest Rates – HDFC bank offers loans at a competitive rate that benefits customers.
♿ Minimal Documentation – Get your loan approved with minimal documentation and avoid unnecessary hassles with HDFC bank loans against property.
♿ HDFC bank will accept your residential as well as commercial property for a loan, which will be kept as a security.
♿ Get a higher loan amount – Usually banks provide loans on the basis of the current market value of the property and basis that allocate upto 60-70% of the loan amount. At HDFC, you can get a much higher value loan amount.
♿ Quicker loan processing – Get faster loan processing with quick approvals with HDFC bank.
♿ Doorstep Facility – You can get access to loan against property from HDFC faster with the ease of doorstep facility that allows you to apply from the comfort of your home.
Benefits of Applying HDFC Bank Loan Against Property on Letzbank.com
Letzbank is a one-stop shop for all loan needs and here are the benefits of applying for HDFC bank loan against property on Letzbank:
♿ Variety of Loans – At Letzbank, we collate loan offerings from all the major banks and present them at one page to you. This is a much hassle free method to make comparisons between loans and make a selection on which loan suits your needs.
♿ Free Services– There is no charge to apply for a loan via Letzbank website. In fact, we have made the loan application procedure easier and quicker by collaborating directly with the banks.
♿ Instant Quotes – Letzbank.com gets you instant access to car loan quotes from a bank of your choice within seconds.
♿ Online Form Application –Submit the car loan application from the comfort of your home at Letzbank.com website and let us handle the application process for you.
HDFC Bank Loan Against Property Eligibility
All salaried as well as self employed individuals are eligible to avail this loan. The documents required are as follows:
♿Duly filled up application form.
♿Address proof – any govt. ID.
♿Identity proof – any govt. ID.
♿Bank statements for the past six months.
♿Salary slip of past six months for salaried and certified financial statements for the past 3 years.
♿Form 16 for the past two years for salaried.
♿Copies of all property documents that will be kept as collateral for the loan.
HDFC Bank Loan Against Property Interest Rates
Depending on the property type, here is the interest rate structure offered by HDFC bank:
1. Loan against residential / commercial property – 11.35% to 12.85% per annum.
2. Loan against Rent Receivables – 11.35% to 12.85% per annum.
3. Commerical/Dropline OD against property – 12.10% to 13.35% per annum.
HDFC Bank Loan Against Property EMI Calculator
Calculate your loan EMI by using Letzbank’s EMI calculator: https://www.letzbank.com/emi-calculator. All you need to do is enter the amount of the total loan, duration of the loan as well as the rate of interest and Letzbank EMI calculator will determine the monthly EMI in just a matter of seconds.