Top Banks and NBFCs for Loan Against Property

Ever thought that how can you unlock the power of your residential or commercial property? You can do this by mortgaging your residential or commercial property. In return you will get loan from top banks and Non-banking Financial companies (NBFCs) to meet your financial requirements. Loan against property is generally used for business expansion, purchase of house, marriage expenses, medical treatment, or any other personal requirement.

Here are the top banks and NBFCs that offer loan against property at attractive interest rates

State Bank of India (SBI) Loan against Property

SBI is a public sector banking and financial services company that offers a range of banking products and services. The below mentioned table shall provide necessary details about the loan against property offered by SBI:

SBI Loan Against Property Interest Rate 2019
Interest Rate 10% onwards
Age Criteria Max. up to 70 years
Processing Charges 1% of the loan amount + applicable charges
Loan Tenure Up to 15 years
Loan Amount Max. Rs. 10 lakh
LTV Ratio Up to Rs. 1 cr is 65%

Note: The mentioned interest rates, fees and charges are subject to change. ROIs depend on the sole discretion of the company and RBI. GST and service tax shall be levied extra on the mentioned charges.

HDFC Bank Loan against Property

HDFC (The Housing Development Finance Corporation) is one of the leading private sector banks that offer a variety of home loans to its customers. HDFC offers home loan for the purchase of a flat, house, and bungalow from private developers in approved projects. The bank also helps in the purchase of the properties from various development authorities such as DDA (Delhi Development Authority), MHADA (Maharashtra Housing and Area Development Authority), etc.

HDFC Mortgage Loan Interest Rate 2019
Interest Rate 9.65% onwards
Loan Amount Up to 60% of the market value of property
Late charges 2% per month of the overdue EMI amount
Bounce Cheque Rs. 550
Pre-payment charges Max. 2.5% of the loan amount
Repayment Schedule Charges Rs, 200 per schedule
Cheque Swapping Charges Rs. 500

Note: The mentioned interest rates, fees and charges are subject to change. ROIs depend on the sole discretion of the company and RBI. GST and service tax shall be levied extra on the mentioned charges.

Alongwith, loan against property for salaried and self-employed, HDFC bank also offers following:

  • HDFC home improvement loans
  • HDFC home extension loan
  • Limited home loan for farmers and rural areas
  • Home loan for agriculturists
  • HDFC rural housing finance.

TATA Capital Loan against Property

TATA Capital is a financial and investment company that offers consumer loans, wealth management, commercial finance and infrastructure finance. The company also offers loan against property at attractive rate of interest to its customers. TATA Capital provides hassle-free documentation process for loan against property.

TATA Capital Mortgage Loan Interest Rate 2019
Interest Rate 10.5% onwards
Loan Amount Rs. 10 lakh
Processing Fee Starting from 1% of the loan amount
Loan Tenure Max. up to 15 years
Foreclosure Charges 4% of the loan amount + GST
Documentation Charges Rs. 5000 + GST
Part payment charges Nil, (up to 25% of principal outstanding in a year)

Note: The mentioned interest rates, fees and charges are subject to change. ROIs depend on the sole discretion of the company and RBI. Plus GST and service tax.

DHFL Loan against Property

Dewan Housing Finance Corporation Ltd. (DHFL) is a housing finance company that offers home loan at competitive rate of interest. DHFL also provides access to affordable housing finance to the LIG and MIG segment of society in semi-urban and rural parts of India. Housing loan from DHFL are available for salaried individuals, self-employed individuals, limited liability partnerships, private limited companies, proprietorship, partnerships and limited companies.

DHFL Loan Against Property Interest Rate 2019
Interest Rate Depends on applicant’s profile
Processing Charges Up to 2% of the loan amount + GST
Loan Tenure Up to 15 years
Part-payment Charges Nil
Cheque/ECS bounce charges Rs. 500 + GST
CERSAI Registry Charges Rs. 50 for loan up to Rs. 5 lakh
Conversion charges 0.5% of principal outstanding
Stamp charges As per applicable law

Note: The mentioned interest rates, fees and charges are subject to change. ROIs depend on the sole discretion of the company and RBI. GST and service tax shall be levied extra on the mentioned charges.

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