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Loan Against Property - HDFC Bank, Axis Bank, ICICI Bank

Key Features & Benefits of HDFC Loan Against Property in India
  • Best offers for salaried and self employed
  • Compare and get lowest interest rates @8.35%* from banks
  • Balance Transfer with reduced interest rates and EMI’s
  • Maximum loan tenure upto 30 years
  • Nil prepayment charges options
  • Quick processing and disbursal of Home Loans.
  • LAP Transfer at attractive interest rates.
  • Approval of loan even if property is yet to be selected
  • Facility for funding for builder’s under construction and ready properties
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Loan Against Property Knowledgebase

Loan Against Property Eligibility Criteria in New Delhi

For salaried individuals, and for professionals and businessmen who are self-employed, the loan against property eligibility requirements in banks or for other institutions are pretty similar.

According to the eligibility criteria to avail Loan against property, you:

  • Must be an Indian national
  • Should be at least 21 years at the time of submission of the loan application
  • Must have been employed by the current organization or should be involved in the current business for a specific number of years
  • Meets the minimum required salary as well as monthly repaying capacity
  • A good credit history with proven track record of timely loan EMI and credit card bill repayment may help secure a lower interest rate and reduce processing times

Loan Against Property Documentation Requirement

Depending on whether you are salaried, or a self-employed professional, or a self-employed businessman, banks ask for different set of Loan against Property documents.

The documents required for loan against property are as follow:

For salaried individuals:

  • Proof of identity and residence proof
  • Salary slips for past 3 months
  • Form-16 issued by current employer
  • Bank statements of salary account for the previous six months
  • A cheque covering the administrative costs/processing incurred by the bank in processing the application

For Self-employed Businesspersons:

  • Proof of identity and residence proof
  • Educational qualification certificates, degrees, diplomas, and other academic credentials
  • IT Returns of the three years preceding the one in which loan is applied for
  • Bank statements of six months preceding the one in which loan is applied for

For Self-employed Professionals:

  • Identity and Address proof documentation
  • Certificates that prove your academic qualifications/credentials
  • All registration/licensing certificate pertaining to your profession
  • Business existence proof/business profile details
  • Previous 3 years’ balance sheets as well as P&L Statement of the company.
  • Acknowledged Income Tax statements of the company and self for previous 3 years
  • Last 6 months’ bank statement.

Loan Against Property Interest Rates - Mar 2019

Banks up to 30 lacs 30-75 lacs 75 & above Processing fees Apply
HDFC 8.50% – 12.35% 8.50 % – 12.35% 8.50 % – 12.35% Up to 1.25% of the loan amount or Rs. 3,000 whichever is higher, plus applicable taxes.
Ing vysya N.A N.A N.A 1%
SBI 8.50 – 11.65% 8.50% – 11.65% 8.50% – 11.65% 2.00% or Rs.50,000 Maximum
ICICI Bank N.A N.A N.A 0.50% – 1.00% of the loan amount or Rs.2000 whichever is higher
Axis Bank 11.60% – 12.25% 11.60% – 12.25% 11.60% – 12.25% 1% + Service tax as applicable
PNB HFL 11.25% – 13.00% 11.25% – 13.00% 11.25% – 13.00% N.A
FedBank 12.22% – 15.47% 12.22% – 15.47% 12.22% – 15.47% N.A
Indiabulls 11.00% – 14.50% 11.00% – 14.50% 11.00% – 14.50% Up to 1.50% of the loan amount + S. Tax as Applicable
DCB 13.50% 13.50% 13.50% 1% + service Tax or Min 5000/-
Standard Chartered 10.75% – 11.00% 10.75% – 11.00% 10.75% – 11.00% Up to 1% of the sanctioned amount
Citibank 10.25% – 11.50% 10.25% – 11.50% 10.25% – 11.50% N.A
IDBI Bank 10.95% – 12.45% 10.95% – 12.45% 10.95% – 12.45% Up to 1% of the loan amount plus service tax as applicable
Deutsche Bank 11.75% – 13% 11.75% – 13% 11.75% – 13% 1% + service tax
Central Bank 14.25 N.A N.A 0.50 % of Loan Amount subject to maximum of Rs.40,000/- and Rs.20,000/- respectively at the time of sanction.
HSBC 10.50% – 10.90% 10.50% – 10.90% 10.50% – 10.90% 1% of the loan amount sanctioned or Rs. 10,000, whichever is higher
DHFL 13.75% 13.75% 13.75% 0.5% to 2% + Service Tax (case to case basis
LIC HFL 11.00% 11.00% 11.00% 2500 + Service Tax
Fullerton 13% 13% 13% 1% of the loan amount
Reliance 13.50% 13.50% 13.50% 1%
Edelweiss N.A N.A N.A Up to 2% of Loan Amount
Bank of India 11.20% – 11.70% 11.20% – 11.70% 11.20% – 11.70% 1% of sanctioned loan amount Min. Rs.5, 000/- and Max. Rs.50, 000/-.Plus S.T.
Tata capital 12.00% – 15.00% 12.00% – 15.00% 12.00% – 15.00% vary depending on the particulars of your loan
Magma housing finance N.A N.A N.A At actuals as per loan sanctioned amount
Kotak Upto 16% Upto 16% Upto 16% Upto 2% of Loan amount
Chola Mandalam 12.6% – 29.00% 12.6% – 29.00% 12.6% – 29.00% N.A
HDBFS 11.00% – 20.00% 11.00% – 20.00% 11.00% – 20.00% 1.50% of loan amount
Bajaj Finserv N.A N.A N.A Up to 2% of the loan amount
Uco bank 11.60% – 12.60% 11.60% – 12.60% 11.60% – 12.60% N.A
Canara Bank 9.65% 9.65% 9.65% 1% of loan amount with a minimum of Rs.5000 and maximum of Rs. 50,000